As your new home enters the final stages of the building process, you know that you need to get your current home ready for the market. With a number of other people hoping to sell their homes in the springtime, you’ll need to take a few extra steps to make your home stand out. Use our tips to help your home sell as quickly as possible.
Price It Right
Homes that are overpriced will sit on the market for months and months. The key to selling your home quickly is to price it right. This doesn’t mean that you need to accept less than what your home is worth. However, you do need to be realistic about the home’s value.
A knowledgable real estate agent will be able to show you some stats from the current market. Pay attention to the homes that have sold, but make note of the subtle differences that could make your home worth more or less. For instance, if a home on your street recently sold for $400,000, but it’s larger than your home, you’ll know that you should probably list yours for less. On the other hand, if your home has more upgrades than theirs, you may be able to get more. It’s a balancing act, but your agent can help you find the sweet spot.
Price for Search Results
In addition to pricing your home based on comparable sales in your area, you also want to set a price that can help it show up in search results. Most people shopping for homes set the upper price limit in increments of at least $5,000 if not $25,000. In the long run, there’s little difference between getting $405,000 for your home instead of $400,000, but if you price your home at $405,000, it’s not going to show up in the search results of someone who sets their upper limit at $400,000. That slight difference in price means more eyeballs looking at your offering.
Do an Inspection
Everyone wants a home inspection before purchasing a home. The cost of the inspection, though, can vary between $200 and $600, depending on the size of the home and the scope of the inspection. Since problems uncovered during the inspection can cause a deal to fall through, prospective buyers want to feel confident that there won’t be any surprises.
You can take care of this by providing your own inspection. Include the inspector’s report in the listing, and have a printout available at your open houses. When possible, fix any of the problems uncovered during the inspection or show an estimate of how much it would cost the buyer to make the repairs.
Make It Pretty
Everyone knows how important curb appeal and interior staging is, but they don’t always heed this advice. Before you list the home, clean up the exterior. Clean up twigs and leaves that have been sitting on the lawn all winter. Brighten up the front of the home with some fresh flowers or a coat of paint on the front door. Power wash the exterior to remove any dirt. Make it shine.
Tour Model Homes
Take a look at some model homes in your area. Builders tend to stay up-to-date on what potential buyers are looking for in their homes. You can get some great ideas of what colours and styles your buyers might like, then make a few updates to your own home to make it look better. For instance, if it’s obvious that your bathroom cabinets look outdated compared to what else is out there, a fresh coat of paint could mean a faster sale.
Use Social Media
Don’t shy away from using social media to promote your home. Some real estate agents will include these services, but not all are as savvy with social media as you might be. Instead, take some time to share your home on Facebook, and ask your friends to share it within their networks. Sometimes, this type of referral could be a big benefit for buyers as well as sellers.
Understand the Buyers’ Motives
When you get a less-than-desirable offer on your home, don’t simply reject it. Take some time to understand where the buyer was coming from and what might sweeten the deal. For instance, a first-time homebuyer might appreciate a counteroffer that includes an offer to pay closing costs.
A buyer with school-age children may jump at a counteroffer that would allow them to move in before school starts. Not everything is about money. You may be able to get a bit closer to your ideal price when you’re flexible with these other little details. The agent you work with should be able to help you learn more about the buyer to cater your counteroffer to them.
If you want your home to sell quickly and for the right price, you have to put in a bit of effort to make your home attractive to buyers. Fortunately, a small amount of time and money can go a long way. You'll be in your new home sooner than you think!