Everybody wants to make sure their home sells at a price that makes their original purchase a good investment. If you want to maximize your potential profit, it is so important for you to understand that the sale can take a little longer.
The more money, time, and effort you invest when selling your house, the more profit you will see.
Establish Your Bottom Line
First, establish an absolute minimum a buyer would have to offer for your home. This means you will not be willing to accept any less than the price point you’ve created.
Go Back to School
Okay, not really. But you do have some homework to do. It is important to know what homes in your neighbourhood are selling for, so check out those most recent sales for the same types of neighbouring property.
D-I-Y or a Professional?
Now, you’re going to want to determine whether you want to sell your home yourself, or get the help of a Realtor. There are advantages and disadvantages for both routes! It all depends on what your comfort level is.
While Realtors do charge a fee for their services, they can be a great asset to the sales process. They bring a wealth of expertise and tactics that can help speed up the sale of your home. But you will want to contact more than one real estate agent - just to make sure you get a good fit! Realtor experiences and approaches vary, as not all agents are the same or even offer the same types of services.
If you're planning on doing it yourself, it's going to take some extra time and research, plus you'll be in charge of all the showings and handling any inquiries. However, you will have minimum fees to pay.
It comes down to time. How much is your time worth and how quickly do you need to sell your home?
Set the Stage
After you have figured out who is going to sell your home, it’s time for presentation! If you can fit the cost into your budget, go for professional photos of your home. It's best to spend 1% of the home value on staging for best results.
A great home photographer has experience making sure that homes look their best from any angle. This is so vital because often the first touch a buyer has with your home is online. If the photos they look at are appealing, they are way more likely to be inclined to actually come view it. This ultimately will maximize the chance of a sale!
Step Into the Real World
Once you’ve got the potential buyer into your home for a showing, you have to focus on how your home actually feels and appears in real life. Since buyers will react to how they feel in your home, its appearance is of the utmost importance.
The first step is to de-clutter and organize every space inside and outside your home. Even if you have to put things into a storage unit, it will be worth the potential sale!
Paint goes a long way. You don't have to fully repaint your home, but touch up any nicks and scratches.
Another key consideration is to ensure the decorations in your home are neutral. You want to make sure what buyers are seeing would appeal to them, so sticking to neutral decorations will make it more likely to appeal to a large group of different people.
There are little things you may not think of or feel are worth the work, but every little bit makes a difference.
- Upgrade any light fixtures that are more than 15 years old. This gives the home a bright new look and can make the world of difference.
- Make any necessary repairs. If there is a squeaky door it could deter a buyer as they may see it as representative of the rest of the home. Ensure everything in your home is in good working order.
Outside the home matters as well. It is the first thing the buyer sees when they are approaching your house. If it doesn’t look appealing from the outside, it could be a deal breaker! So boost the curb appeal. Start by painting the front door, maybe plant or pot flowers if you’re selling in spring or summer months, and make sure the lawn is cut and bushes look tidy and trimmed.
We'll leave you with one last technique you should employ when selling your home. Try to understand the buyer's motivation. Take the time to learn why exactly your buyer wants to buy a home. You can use this information to your advantage. "Oh, you're planning for a family? There is a great school not two blocks from here." or "You're tired of the noise from downtown? This neighbourhood is so quiet!"
Use these simple tips when selling your house and you could turn your home from a modest investment into a substantial one. Take the time because it will literally pay off!