Despite the market conditions, homes are still selling and some homeowners have been able to successfully beat the odds and sell for top dollar. To model the success of these savvy homeowners, let’s take a look at five tips to sell your home for top dollar:
- Price your home aggressively
Setting the right price for your home is the single most important decision you will make when you decide to sell. Go too high and you risk turning off every buyer in the marketplace, go too low and you leave money on the table. One simple but powerful technique for pricing your home aggressively is to spend the day looking at your competitors’ homes. By doing so you will be seeing the world through the buyers’ eyes. Be tough and honest with yourself. Compared to the competition what would be a price that would position your home as the best value proposition for buyers in your marketplace?
- Hire an aggressive listing agent
Not all listing agents are created equal. To find an aggressive full time agent, take the time to research the market, talk to friends, neighbors, and colleagues about who they recommend, and interview multiple agents before making a hiring decision. Don’t hire an agent just because they tell you what you want to hear. Make sure your agent gives you a true picture about values in your marketplace, even if you don’t want to hear it. In addition, be sure to come to an agreement about a specific, documented marketing plan before signing a long term listing agreement.
- Stage the home & use curb appeal
Buyers won’t pull the trigger unless they become emotionally invested in your home. To help build a stronger first impression, start from the outside first by working hard to improve your home’s curb appeal. Remove the weeds, plant fresh flowers and spruce up your exterior paint if needed. Next move inside and stage each space by creating a focal point and a story for each room. A set dining table, a book by the bed, or a game in the kids room are all simple examples of staging.
- Offer incentives & pre-paids
A buyer who has narrowed their search down to two or three top choices may need a little push to motivate them to take action. To encourage buyers, many sellers offer incentives like buying the interest rate down on the purchaser’s loan, paying for closing costs, inspections, or repairs, or providing allowances or credits for home upgrades after closing. In addition, many sellers prepay for services like internet services for a year, taxes, homeowners association dues, or even golf club memberships.
- Get pre-inspections
Many sellers do pre-inspections of the home to provide buyers with a clear whole home inspection or pest and dry rot inspection. (A word of caution: anything discovered during a pre-inspection will likely need to be disclosed whether you fix the issue or not). It’s often easier and cheaper to do needed repairs in advance than trying to negotiate them later with an emotional buyer