Tips For Home Sellers
With housing market prices currently skyrocketing due to low inventory and cash offers on nearly every home, now is an excellent time to put your house up for sale. Use these 15 tips to cash in on this phenomenon and get the maximum asking price with minimal overhead costs associated with home selling while alleviating the stresses that can occur.
1.) Research comparisons to ensure the best asking price.
You probably heard the term “comps” many times as a buyer while purchasing the home you currently own, but it’s just as important for sellers to understand comparable prices. Look at what other houses in your neighborhood with similar square footage and acreage are going for, and you’ll have a good idea of how to price your home. Remember, you’ll want an asking price to be slightly higher than the price you’re aiming for so the buyer will feel as if they received a deal on the home, but not so high as to land your house outside of search parameters and miss out on potential buyers.
2.) If you’ve decided to hire an agent, make sure your realtor is independent of the buyer.
While it seems unethical, it’s quite common for realtors to represent both parties and get the commission from both sides. This can simplify things, but it makes the bargaining process obsolete and results in your home selling for less than it could have. Real estate agents are very savvy and know the tactics needed to get you the optimal amount out of the deal, so long as they have someone to bargain with.
3.) Present a clean home.
As soon as you’ve decided to start the selling process, begin cleaning your home. Start by standing in the doorway of each room and viewing it with unbiased eyes. Here’s a list of things you should pay careful attention to, as buyers will notice things you might not think of.
- Showers, toilets, and sinks
- Laundry room
- Kitchen appliances
- Stairs and banisters
- Carpet, tile grout, and hardwood floors
- Closets and pantries
Be sure you’re using the appropriate cleaners for each surface and consider renting a carpet cleaner or having it professionally cleaned. If your walls are too dirty to create a pristine look, try to budget in a paint job in the bedrooms and living room, at the very least.
4.) Appropriate unused rooms into typical desires.
If you have a room that doesn’t get much use, turn it into a nursery, gym, or home office. Doing this will give the buyer ideas of what they can use it for and leave a good impression. Leaving a room empty or full of storage items can turn many buyers off of the house.
5.) Optimize storage space.
One major consideration buyers have when looking at a home is the amount of storage available. Once your closets and pantries are clean, consider boxing up half of each, so the buyer feels extra room is available. This also applies to the garage and basement if you have one.
6.) Depersonalize your home.
While your home should be clean and welcoming, buyers want it to feel as if it’s “move in ready.” Consider removing these everyday items to give it a fresh look.
- Family photos
- Crafting supplies
- Stacks of books and magazines
- Questionable artwork on the walls
- Pet supplies
- Any politically affiliated memorabilia
Remember that many different people will view your home, and they each have personal beliefs that might clash with yours. It’s essential to present a neutral environment, so the buyers don’t walk away based on conflicting morals.
7.) Timing matters.
One of the most significant factors in selling your home for an optimal price is the time of year. Homes placed for sale between March and May sell for more than homes in mid-summer and winter, and they sell quickly. Many people begin shopping for homes after the holidays have settled down because they want to move within the year. You’ll miss the mark and have to wait if you list too early, and you’ll miss out on many prospective buyers if you wait too long.
8.) Consider the color palette.
You might have personalized the walls of your home by painting them exciting colors or textures. The bright orange dining room you’ve come to love can repel a potential buyer. Repainting your walls in neutral colors will appeal to a wider variety of prospective buyers.
9.) Assess curb appeal.
First impressions matter and this is more true for home selling than anything else. There are no second chances. Consider taking care of these matters before you take photos or show your home. If you can not make changes, consider hiring a virtual staging/virtual renovation company (lotus 3d staging) to digitally show in a photo what the changes will look like.
- Repaint or pressure wash the exterior of your home.
- Trim the front yard and plant welcoming flowers. Make sure there are no weeds or overgrowth.
- Pressure wash the driveway.
- Have only one car parked in the driveway during showings and no vehicles parked during photos.
- Shine up your mailbox and house numbers.
- Make sure the roof is clean and in good repair, and the gutters are empty.
- Make sure all outdoor lighting is dust-free, and the bulbs are in good condition.
- Clean your porch and front door, paying careful attention to the knobs.
Once you’re done, stand at the mailbox and view your house and property. Look for any other items that you might be able to take care of for a better presentation.
10.) Photos matter.
Buyers looking at homes are going to start with an internet search. If a home doesn’t have any photos, they’ll quickly move on to the next. Similarly, if the images don’t look professional and the house looks cluttered or in need of massive repairs, buyers won’t waste their time coming to see the house. Make sure your listing puts your home in the best possible light. If you take the photos yourself, consider hiring a virtual staging company to enhance the photographs for an eye-catching result.
11.) Use virtual staging to cut down on selling costs.
Staging your home is a critical aspect of the selling process. A house can spend years on the market simply because it’s empty and buyers don’t feel a connection. By hiring a virtual staging company to help you stage your home, you can cut down on staging costs and have complete control over the finished look. Find a professional virtual stager willing to speak with you on the phone, so there are no miscommunications about your expectations or the process. Interior design specialists run these companies, and they’ll have a lot of advice on what appeals the most to potential buyers.
12.) View this exchange strictly as a business proposal.
Selling the home you lived in can be very emotional. In your heart, it’s worth more simply because of the amount of love and appreciation you’ve felt in the environment. By dissociating the selling process from your emotions, you’ll have an easier time selling it and depersonalizing it. Your home is an investment and an asset, so switch your thinking pattern from “my home” to “the house.”
13.) Assess the offers carefully.
After all your hard work, it can be easy to get excited over the first offer. Playing hardball and assessing each offer can result in a higher selling price. Be sure that the buyer has a pre-approved mortgage lined up and that the bid is legitimate. Many closings have been pushed off for months due to inadequate preparation on the buyer’s end.
14.) Research closing cost discounts.
If you haven’t already, look into closing cost discounts. Educators, nurses, and the military can qualify for discounts on these costs. Also, consider who will pay the closing costs and how negotiable you are. If you have damage to your home that is on the appraisal, you can trade off and pay the closing costs to lower the overall cost for the buyer without having to invest money into fixing a home you won’t be living in anymore. Similarly, you can make closing costs the buyer’s responsibility if you have many offers and are trying to sort through them.
15.) Plan for the next step
Be prepared to move quickly. Once the closing is over, you no longer own the home, and you’ll need to have your next option lined up and completed. It’s a careful balance, as you don’t want to be paying two mortgages while waiting on your home to sell, but you also might need the funds from the sale to purchase your next home. This is one of the most significant stressors on sellers and buyers alike. By carefully researching and preparing, you can eliminate this issue and time it just right.
Now that you have information on how to sell your home and cut down costs, it’s time to get started! Before you make a phone call or begin your search, take a walk around your house and start planning what needs to be addressed first. It may seem like a huge list to tackle, but by piecing it out as we have above, you’ll be in your new home with cash in your pocket in no time!
Call Us Anytime with any questions – Lotus 3D Staging (203) 293-8765.
We’re happy to talk with you about an upcoming property you need to sell and how best to do it!