10 tips to maximizing sale of your home
Buying or selling a home is one of the most important purchases you will ever make. If you are moving out of state, it can also be the largest investment you will ever make. To help minimize your risk and maximize your profit, here are ten tips for maximizing sale of your home.
#1: Find an experienced real estate agent - Your top priority should be finding an experienced real estate agent to represent you in this process because they have the experience needed to guide and support you through this challenging time. Hire an agent who is knowledgeable about your area, who has the time and energy to devote to your sale, and who will diligently market and show your home. Hire someone you can trust.
#2: Set the right asking price - Your goal as a seller should be to sell your home for the highest possible price within a reasonable period of time. The trick is determining what that "right" price is, which is based on several factors in your market environment. To set the right asking price, you need to know what similar homes in your area have sold for recently, or are currently listed or actively being shown by other agents. Your agent can help you with this information. For example, if similar homes in your area are listed at $200,000 to $220,000, your home should not be marketed as a bargain at $180,000. If you want to receive the maximum amount of interest from potential buyers, and you want demand for your home to drive up the price so that you get closer to your asking price and still have quick sale of your home, market it near the top of that range. With patience and persistence on your part and from other buyers who have seen your home, it will sell for near the asking price or above it.
#3: Show your home as often as possible - You should also use every opportunity to show your home to potential buyers. If your home is in a strong market area and has good curb appeal, you should be able to catch the interest of many buyers simply by showing it. Most real estate agents will make sure that you get a number of showings, so that you are able to make an informed decision about the price at which you will list the home for sale. If none of them become full-priced offers, consider using other methods to sell quickly such as including "buyers premium" on your asking price and offering negotiations before going through an open house or open houses.
#4: Don't hold back on repairs - Keep making repairs to your home until the time comes when you will list it for sale, and then do so with gusto. And while you are doing this, be sure to include them as part of your offering price. It's more important that you make as much money as possible on the sale of your home in comparison to the amount of time and effort you will put into its maintenance during the short time it's on the market. If you buy new carpet or paint, document how much it cost. Make sure that everything is documented so that other buyers can verify what was involved in its replacement or repair.
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