Sellers

3 Industry Secrets for Getting Top Dollar When Selling Your Home

The market is on fire! Partly because of the time of year we are in and partly due to the dramatic shift in our marketplace. As of just a few months now, we are completely in a seller’s market where there are far fewer homes for sale than there are buyers. So how does a seller in this environment get top dollar on their property? It’s more than just time of year or general buyer trends; it’s a matter of actively, aggressively going after the best outcome. Here are three tried and true strategies that we use to get our sellers top dollar.

Price Your Property Effectively

We’re not suggesting you set a price lower than everyone else in the neighborhood to get it sold. But we are saying it’s critical to know and understand the market pulse in your area as it relates to today. The key word here is today. It’s no secret that one of the most prevalent methods used to determine market value is by evaluating comparable properties.

Appraisers and Realtors® in general, look at homes sold in the last 6 months to a year when considering values. However, when we are dealing with the drastic change that is our housing market today, it’s important to look at under contract values. This is what shows the truth of what buyers and sellers value in the market right now.

Follow the Laws of Supply and Demand

In any marketplace, whether real estate or otherwise, the basic principles of supply and demand play a huge a role in market activity. With real estate, we tend to see an upswing in activity beginning the spring months and it stays active until the fall when people slow down from their home search. Listings also follow closely with those trends.

When there is increased supply, demand goes down. Conversely, the fewer homes available for sale will dictate increased demand – a phenomenon we are experiencing these days. This translates to the spring and summer markets being better for sellers, with the expectation they will earn top dollar if the home is well priced.

Promote, Promote, Promote!

You can have any number of homes on the market but until and unless the word gets out, they will just sit there. Promotion is the key word and the way you promote your listing is also critical. In today’s fast paced, very NOW world – it is essential to cater to buyers’ needs. That means putting your property on social media, on every syndicated property home search site possible and advertising in other locally preferred ways.

Kick it up one more notch by working with a broker that has an extensive database of active buyers that are just waiting to be matched with the right property. Imagine – finding a buyer that is willing to pay over and above your asking price because your home is exactly what they’ve been looking for!

~

The first step to getting top dollar on your home is to know and understand your local neighborhood’s buying and selling trends. Contact us today for an updated market analysis that’s catered to your locale. We’ll give you real time values so you can move forward with your listing with all the leverage you need to come out on top!

Get more money when you sell

1. Reduce Any Clutter:

Whether it's been a few years or 30 years of memories it's easy to get comfortable and not put away the various items we use for daily use. Storing the small kitchen appliances behind closed cabinets, disposing of unread magazines, and other clutter can instantly make a home feel much more clean and open to future possibilities.

2. Neutral = Appealing to Home Buyers:

A home that has been staged makes it easier for families to envision their own family making memories in the space. Review the various rooms in your home and conquer easy projects that are a little investment, but have the potential to make a difference. This home has totally had your style, but most likely the new homeowners will have their own preferences. For example, the red wall in your living room aligned with your tastes, but a neutral color gives potential home buyers a blank canvas.

3. Scrub & Deodorize:

Fido the dog has been a great addition to your family, but pet smells and other odors should be eliminated. Review your bathrooms and check the surfaces for mildew and other cleanliness issues which could turn away a home buyer.,/p>

4. Enhance curb appeal:

Just like you judge a book by it’s cover, home buyers drive by your home and judge the outdoor appearance. As you prepare the exterior make there’s a welcoming front door and the landscaping has recently been maintained. If possible renting a power wash to clean the exterior will give it the appearance of an almost freshly painted home, but much less expensive. This will help with the curb appeal for listing pictures and drive bys.

5. Fix Problem Areas:

Cracks in the walls, in the flooring, or on the ceiling are an instant red flag to buyers. These type of problems are typically related to foundation issues. Most likely these issues will be discovered during a home inspection, so instead of doing a quick fix look at having the issue corrected for the long term. Taking the time to fix the problem now is especially helpful if you are wanting a quick sale.

Interested in learning more tips on how to sell your home for more money? I would love to show you how our team is going to give you the largest return on selling your home. Please give me a call and we can help get you set up for success!

How to not value your home

No one wants their home to be on the market for months while generating no interest from buyers. If you have a home that just won’t sell, do you know the reason? One of the most prevalent reasons for a home not selling is that it has been overpriced according to its value and the surrounding market. How do most homeowners arrive at their listing sale price? Unfortunately, so many sellers use less than reliable methods of deciding the list price and as a result, they end up wasting time without selling their home at all.

Here are the six things that inexperienced sellers use to gauge their selling price, plus a list that explains what you can do to make sure your home is priced perfectly to sell.

What Not To Consider When Determining the Value of Your Home

THE AMOUNT PAID TO PURCHASE THE HOME

Just because you might have paid a certain amount for the home does not have anything to do with the current market value of the home. Many homeowners falsely believe they will be able to recover the same amount (or more) as they paid initially, regardless of how the market and economy is performing today.

THE MINIMUM PRICE SELLERS NEED

In a market clearly controlled by buyers when sellers do list their home it is often because they cannot avoid it. Either relocating for a job, no longer able to afford the house or they need the money and plan to use the equity of the home. Often sellers feel that they can set their price according to their need rather than what the current real estate market dictates.

WHAT HOMEOWNERS WANT

Everyone wants to get the maximum amount possible when they sell their home. Many times homeowners self-evaluate the home’s value based on what they see as years of upgrades, maintenance and care.

HEARSAY FROM NEIGHBORS

When others in the same neighborhood talk about the value of their homes, they too are often misguided in how they came to the value. Still it is common for homeowners to want to believe that if the neighbors’ home is valued at a certain level, theirs should be too.

THE COST OF REBUILDING IN TODAY’S MARKET

Inflation is a factor affecting how a home is maintained over the years after purchased. This does not, however, carry over to the home’s value. Often sellers try to incorporate the inflated cost of rebuilding in today’s market – a formula that simply doesn’t work.

THE HOME’S VALUE ACCORDING TO ANOTHER AGENT

There is no shortage of agents and when they are competing with each other one thing that can and does occur is false claims of yielding a much higher sale price on a home. Though it may seem attractive at first, the result is often an unsold home that rarely receives any offers.

How To Price Your Property Perfectly to Sell

EXAMINE COMPARABLE SALES

The best way to determine the price of a home is to evaluate comparable properties in the same area. Not only does this include location, lot size, property type and square footage, but a Comparative Market Analysis also looks at amenities in the home, types of flooring or other structural aspects as well as the amount of remodeling or renovation that may have been done on the home.

HAVE A PROFESSIONAL APPRAISAL DONE ON THE PROPERTY

Prior to approving a mortgage many lenders require an appraisal performed on the home. A great selling strategy is to order an appraisal independent of the buyer’s requirement for a lender. Not only does this provide valuable insight as to what the maximum valuation of the home will be per the lender but it also allows the sellers to corroborate the price with potential buyers.

EVALUATE OFFERS RECEIVED ON THE PROPERTY

If the home is already on the market, one way to consider whether you have overpriced the home is to take a closer look at any offers that have been made on the property. Do they align with the current fair market value? Are other similar homes in the neighborhood also selling within the same price range? It is important to answer these questions to find out whether buyers perceive your list price as realistic or over the top.

HIRE AN AGENT WITH A PROVEN TRACK RECORD

Qualified, experienced agents are paramount to helping you determine the right price to set when selling your home. If you choose a Realtor that is well versed in the area and specializes in the vicinity where you are located they will be able to assess your price range based on other like kind property sales through CMAs. Through direct experience, their knowledge and insight almost always results in accuracy and in turn, quick results.

Tips for Pre-Sale Prepardness

Get Your Home Market Ready!!!

What do we do when we are looking for love, go out to meet others and attract their interest? We make sure we look our best, present our best effort and highlight our endearing qualities to “reel in” the perfect catch. The real estate market is no different. When you are selling a home, you are looking for the perfect buyers to show interest in your home and you hope to share with them what it is you love about the house.

Like meeting a new person in the dating scene, selling a home can be a hit or miss game but unless you make the effort to present your home in the best light, you may be in for a string of not-so-perfect buyers that are less than interested in making an offer. Here are some things you can do to make sure that buyers get that twinkle in their eye when they first set their sights on your home.

Make Them Love It At First Sight

The old adage about not judging a book by its cover certainly does apply to properties but the last thing you want to do is lose a potential sale because you haven’t paid attention to first impressions. Most homeowners these days have watched some HGTV and one of the things that come up in many of their shows is “curb appeal”. Curb appeal refers to how attractive or enticing the exterior of a home is in terms of landscaping, the driveway area, front porch, entryway, garage and other exterior features.

It goes without saying that you should repair any damage and clean up areas that are out of sorts. Adding soft touches like some flowers or even some professional landscaping can also make a world of difference in buyers’ impressions of the home. If you are showing a home after dark, one thing you can do is to turn on exterior lights, creating an appealing peek through as people first drive up to the home.

Keep Things Classic, Clean and Clutter-Free Nothing is more of a turn off to buyers than a home filled with too much stuff. The last thing buyers want to see is closets and counter space bursting at the seams with too many things, an over-abundance of personal items or a mismatched and unattractive arrangement of furniture. Classic, simple décor with clean lines and neutral colors is most appealing. Not only does this allow them to see the actual house but it also gives them the opportunity to visualize their own customization in the space.

Walk through the home and remove all extra items that are lying around, clear off kitchen counters and remove all personal items from bathrooms and other surfaces. Imagine walking into the perfect hotel room – while looking lived-in, the space is still elegant without too many things crowding the space.

Highlight the Home’s Features

Whether showing off shiny granite countertops, impeccable resurfaced wood floors or displaying the backyard pool – it is important for buyers to be able to see all that the home offers in terms of amenities and features. If the walkout basement is a strong selling feature, you could clear the area and pose potential uses for the space such as making it a media room or workout area. When buyers see versatility with which the space is utilized it will create more interest in your home.

~

Remember, buying a home is just like finding a new love. There must be chemistry. And unless you make the effort to present the home in its best light, chances are you will not find the perfect buyer.

Why You Should Use an Agent to Sell Your Home

Selling your home is a big endeavor that should include working with an expert, a real estate professional. To compensate the agent for their time and expertise a portion of the money you receive upon the home sale will be used to compensate the real estate agent. Commissions are scary and can be difficult to justify when selling your home. Along with helping you stay objective an agent guides you through the selling process. Here’s a list of reason why you should use a real estate agent to sell your home.

1. Real Estate Agents Possess Overall Market Knowledge:

As you begin the process of selling your home you want to have an expert that can guide you through the process. A real estate agent has access to a variety of data about recent home sales in your neighborhood, which will allow you to price your home accordingly. Along with this agents can access your local MLS. Your home will be included in the MLS, so agents helping home buyers can be shown the various details.

2. Real Estate Agents Are Trained in the Many Legalities of Selling a Home

Selling your home is one of the largest transactions you’ll make, so make sure you don’t miss a step in the process. During the selling process there is tons of paperwork that needs to be completed. A real estate professional ensures selling your home will go smoothly and will also be able to alert you should problems arise in which you need to consult with a lawyer.

3. Real Estate Agents Are Able to Network & Coordinate Showings

Putting your home for sale cannot become your full time job--it will be difficult to get home from work for showings, make flyers, etc. A real estate agent becomes your marketing specialist and will be able to run open houses, set up showings, and other marketing activities to get your house seen by interested buyers. Agents are typically connected to other agents, so are able to provide referrals that help you get a quick sale.

4. Real Estate Agents Assist with Pricing to Sell, Negotiation, & Inspections/Diligence

Negotiating is tricky. While you may think it would be easier to not have the middle men (the buyer and seller real estate agents) the negotiation is not always easy. Be prepared. An agent acting as a messenger or bad guy in the process prevents any disagreements that could result in a deal being pulled from the table. Once you are under contract the agent will have many recommendations to assist with any final details to get you to the closing table.

Selling your home can be a long process that ends in a significant financial transaction. A real estate professional is a huge benefit to you during the process. The expertise of an agent allows you to better navigate the rocky waters and end up on the other side with a transaction with your best interests in mind. Please give us a call today if you are looking at listing your home.

REACH OUT