There are many ways to sell your house for more money & faster. Most people think their home will sell for what it’s worth. But sometimes homes sell for more than they’re worth & sometimes homes sell for less than they are worth. Sometimes homes sell faster than average & sometimes homes sell slower than average.
Sometimes sellers agree to sell their home for less than they could get because they aren’t getting good Realtor advice. And a 2nd opinion from a different Realtor. Getting this kind of detailed value advice from a Realtor is free. Sellers can learn about the variance in values in their segment (Standard Deviation), Absorption Rate (Demand), Inventory Analysis (Supply), Negotiability Analysis, Average Days On Market, & Price per Square Foot Analysis, easily. This is not an appraisal, but instead a comparison to the other properties on the market, allowing a Realtor to help a Seller with “Price Positioning.”
Usually Realtors can sell homes for more money than Sellers by themselves. National Association of Realtors surveys show that FSBO’s sell for 30% less than listed properties, on average. Days on the Market is longer for FSBO’s. The process of selling a home becomes much easier for Sellers when they hire a Realtor. When Buyers are working directly with a Seller, Buyer’s Remorse happens more frequently & the Contract doesn’t get signed. A good Realtor will save a Seller over 100 hours of time. Good Realtors solve problems that inevitably come up during the selling process. Specialized knowledge is one of the most valuable sources in the world.
Usually Sellers are their own worst enemy when showing a house to a prospective Buyer. Sellers talk too much & they oversell. Buyers take Seller’s comments with a grain of salt, because they are coming from the other team. If a Buyer’s agent says the same thing, it will hold more weight for the Buyer. Realtors have a good way to zero in on Buyers who might be specifically interested in the subject property, called Reverse Prospecting. One of the things good Listing Agents do is to create a list of Unique Features for a house. This will help to appeal to a correct target market of buyers. Professional photos are critical. A well-written description will help. Turn negative features into positive ones.
There are some strategies to help Sellers sell for above average. Staging, or making the house look nice with well located & properly sized furniture. Put furniture in each room so it looks like its’ supposed purpose. Fixing everything that is wrong with the house. Frequently condition risk will reduce a Buyer’s perceived value for a house. If a Seller performs a pre-marketing inspection & fixes broken items & explains what they did to prospective buyers, it will reduce condition risk. Clean the house in the very best way. Wash the windows. Replace lightbulbs with higher wattage ones. Paint as needed. Pick up the trash & the clutter. Make it smell nice.
Spotless, deep-cleaning is necessary. De-clutter. De-personalize. You want the buyer to feel like they are at home, not at your home. Paint walls off-white or light grey. Ceilings flat white. Trim & doors semi-gloss white. Kitchen & bathrooms are super important. Nothing broken. Consider buying new, stainless steel appliances. Update hardware, knobs, & light switches & outlets. Consider satin nickel. Clear out used storage so the house looks like it has plenty of storage. Perform all mechanical maintenance. Everything should work. Clean/shampoo/replace the carpeting & consider sanding/staining hardwood flooring. Redo the front entrance. Have a focus on curb appeal. Frequently the decision not to buy is made between the car & the front door for buyers.
Negotiating strategies are important. Keep people motivated to continue the negotiation. Gauge their negotiating skills as you go through the process. Learn the other party’s motivation. Try not to meet in the middle. Consider only moving 10% or 20% instead of meeting in the middle. The Buyer & Seller should not communicate directly with each other orally, to avoid slipping information. Try to let the other party speak first. Don’t let your ego get involved. It’s not about winning. It’s about bridging the gap. Most Buyers who offer low can be negotiated up in price. Don’t rush to counter-offer. Sleep on it. Consider using other strategies than price in your negotiation. Include other items of value, like furniture or other incentives. Try to create a bidding war. Nothing gets Buyers up in price more than another bidder.
Dangers: Don’t price below your value range. And don’t price above your value range. Every time you switch listing agents, your house becomes less valuable in the eyes of the Buyer. Every extra month you stay on the market the house becomes less valuable.
Professional photos & exterior landscaping will significantly affect a home’s perceived value.
Get ready to sell your house. Prepare your paperwork & facts. Know your taxes & legal square footage. Make sure all permits are closed out & all Certificates of Occupancy are in place. If you have a septic system, make sure you know the legal bedroom count. Consider a Home Warranty that you can transfer to the Buyer. This will help reduce condition risk. Marketing homes includes a high quality For Sale sign. Including the Seller’s telephone number will scare away potential buyer’s agents. Advertise all over the internet. Compile information packets, including a survey & narrative of the rooms. Sellers should not be present during showings. Consider Public & Broker Open Houses. No oral negotiating. Use a good lawyer – a deal-maker, not a deal-breaker.