5 Tips to Maximize Your Home's Value When Selling
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| 5 Tips to Maximize Your Home's Value When Selling |
1. First, do your assignment
Find information about the local market circumstances in your area. Depending on your location, there may be better or worse periods to sell. Once you've chosen to sell, you may wish to consider the following three tiers of service:
• Sell the house yourself (FSBO). • List with a discount/flat fee broker. • Hire a full-service real estate agent/brokerage.
If you decide to sell your house yourself, keep in mind that you will be responsible for marketing it, as well as complete legal disclosures, inspections, appraisals, and so on. You should be quite conversant with real estate documentation and the legal ramifications of the purchase.
You may also use a discount or flat-cost broker to help you sell your home. Depending on the broker you choose, you may be able to get help with marketing, open houses, disclosures, title/escrow, and other services. Make sure you understand what services you are willing to pay for. Make sure you understand which services are included by each price plan. Find out whether your property will be put on the internet, what signs will be accessible to you, and if you will be submitting the house to the appropriate MLS (multiple listing service) in your region. Each broker is unique, so gather recommendations from previous clients.
If you want to reach the widest range of potential purchasers, list your home with a full-service real estate broker/firm. Before you pick up the phonebook or open that postcard you got in the mail, be sure you interview more than one agent/agency.
Determine if they are a REALTOR®—a member of the NATIONAL ASSOCIATION OF REALTORS, a trade association with almost 1 million members nationally. Members of NAR adhere to a strict code of ethics that ensures the greatest quality of service and honesty. You may also want to discover whether they have any particular REALTOR® certifications, such as GRI and CRS, which require real estate professionals to complete extra specialized real estate training. In addition to credentials, verify the agent's references. Check with prior customers to determine whether the agent is attentive and ready to keep you updated on developments. You will need to communicate directly with your agent, so you should be as comfortable as possible. The agent that manages your listing should:
• Comprehensive marketing strategy for your home, including both online and offline channels. Prepare a Comparative Market Analysis (CMA) of sold and listed homes in your region. Assist in determining the best selling price for your property and providing recommendations for upgrades.
Potential buyers will make appointments to see your property throughout the time it is on the market, in addition to any scheduled open houses that you or your agent may arrange. Try to appraise the home as if you were viewing it for the first time. Buyers must see themselves living in the house; therefore, portray it in the best possible light. Consider yourself a prospective buyer and begin by inspecting the home from the front, noting the most cost-effective improvements to make.
• Sell the house yourself (FSBO). • List with a discount/flat fee broker. • Hire a full-service real estate agent/brokerage.
If you decide to sell your house yourself, keep in mind that you will be responsible for marketing it, as well as complete legal disclosures, inspections, appraisals, and so on. You should be quite conversant with real estate documentation and the legal ramifications of the purchase.
You may also use a discount or flat-cost broker to help you sell your home. Depending on the broker you choose, you may be able to get help with marketing, open houses, disclosures, title/escrow, and other services. Make sure you understand what services you are willing to pay for. Make sure you understand which services are included by each price plan. Find out whether your property will be put on the internet, what signs will be accessible to you, and if you will be submitting the house to the appropriate MLS (multiple listing service) in your region. Each broker is unique, so gather recommendations from previous clients.
If you want to reach the widest range of potential purchasers, list your home with a full-service real estate broker/firm. Before you pick up the phonebook or open that postcard you got in the mail, be sure you interview more than one agent/agency.
Determine if they are a REALTOR®—a member of the NATIONAL ASSOCIATION OF REALTORS, a trade association with almost 1 million members nationally. Members of NAR adhere to a strict code of ethics that ensures the greatest quality of service and honesty. You may also want to discover whether they have any particular REALTOR® certifications, such as GRI and CRS, which require real estate professionals to complete extra specialized real estate training. In addition to credentials, verify the agent's references. Check with prior customers to determine whether the agent is attentive and ready to keep you updated on developments. You will need to communicate directly with your agent, so you should be as comfortable as possible. The agent that manages your listing should:
• Comprehensive marketing strategy for your home, including both online and offline channels. Prepare a Comparative Market Analysis (CMA) of sold and listed homes in your region. Assist in determining the best selling price for your property and providing recommendations for upgrades.
Potential buyers will make appointments to see your property throughout the time it is on the market, in addition to any scheduled open houses that you or your agent may arrange. Try to appraise the home as if you were viewing it for the first time. Buyers must see themselves living in the house; therefore, portray it in the best possible light. Consider yourself a prospective buyer and begin by inspecting the home from the front, noting the most cost-effective improvements to make.
2. Clean up as much as you can
You may wish to paint the walls (neutral colors are preferable) or update the wallpaper. Replace outdated flooring and aged carpeting. Inspect and replace any broken or unattractive caulking in the bathtubs and showers. If feasible, use a cleaning service. Display your finest linens, towels, and shower curtains. Make the beds and place fresh flower arrangements on the table. Make sure there are no unpleasant scents in the home. Buyers notice odor first, and it is typically a lifelong turnoff.
3. Turn your house into their new home
Put away or pack small appliances and other things that may be resting on worktops or tables throughout the home. You want buyers to imagine the space in each area, so eliminate as many tiny objects as possible. Remove personal things, photographs, and other stuff to reveal clean shelves, bookcases, and walls. Move extra furniture to make rooms more roomy. Replace thick drapes with sheers that let more light in. Clean and arrange the closets. If necessary, store boxes in an out-of-the-way spot. You may also wish to hire a temporary storage facility to declutter your whole home.
4. Don't neglect the outdoors!
The correct landscaping may improve the curb appeal of a house. Weeds should be removed, bare places patched, fertilizer used, and watered. Look closely at the shrubbery. Bushes that have grown to block windows should be cut to allow sunlight and light into the residence. Fill up barren spaces with tiny shrubs and vibrant, fast-growing annuals like impatiens and petunias. A few well-placed flower pots by the front entrance may be quite welcoming. Today's purchasers want minimum upkeep. Your objective should be a well-kept yard that seems simple to care for.
5. Allow your agent or representative to display your house
Buyers do not want to insult existing owners, so if you attend open-house events, they may be less likely to consider your property. Be flexible regarding showings. It might be inconvenient to have a property available to show at any time, but the more often someone can visit your home, the sooner you'll find a buyer.
Summary
It's important to maximize the value of your sale, regardless of the reason for selling. Some basic suggestions may help you promote and sell your house in the shortest period of time for the highest price.