Are You Ready to Get Top Dollar?
The difference between just selling your home and selling your home for the highest possible price can mean tens of thousands of dollars more for retirement, your kids’ college education, a new car, traveling the world, and beefing up your savings account with tax-free money. Today I’m going to share with you the 10 most important things to do (and not do) when selling your home. Following these simple tips can easily add 3%-5% or more to the price of your home, can result in multiple offers over list price, and can net you more for your home than you ever imagined.
The snowflakes may want to turn away at this point. Let’s dive in…
1. Tell investors to take a hike.
Slam the door to online “i-buyers” like Zillow Offers, OfferPad, and Open Door. They charge higher fees than if you had used a Realtor® and pay below market value for your house. You just left $35,000 on the table in the name of “convenience”. How does that feel?
2. Nobody likes a hoarder.
Nothing costs homeowners more than putting a dirty, cluttered house on the market. I know you love them, but buyers don’t necessarily want to see your collection of phallic Peruvian statues. Doing some basic things like a professional carpet cleaning, paint touch-ups, and a weekend of de-cluttering can bring you $10,000 or more. If you have a lot of furniture, consider selling it or relocating items to the garage.
3. What’s that smell?
I love Indian food and love spicy and pungent food, but for showings it’s probably best that your house smell more like vanilla than Delhi Palace Buffet. To get the highest price, you want the most buyers competing for your home. That means your house must appeal to the maximum number of buyers. No smells!
4. Selling a home is inconvenient. Get over it.
The sooner you accept this the sooner you’ll start enjoying making money. You might need to de-clutter and pack. You’ll have to accommodate buyers according to their schedules, not yours. You may need to crate your pets during showings. So what? You’re getting a free Cadillac for the inconvenience!
5. Fix your sh(__).
Ignoring repairs will cost you double or more. Buyers see lots and lots of dollar signs when they spot deferred maintenance. That’s because they have no idea what it costs, they’ll get emotional about it, and they will take it out on you in their offer. Buyers may ask, “What else did the seller ignore?” It happens all the time.
6. Disclose, disclose, disclose, and then disclose.
Make sure you let buyers know about anything that doesn’t work or needs repair before they make an offer. This way you know their offer reflects those items. Fix as much as you can to remove this obstacle, otherwise buyers will use their inspection as an opportunity to nickel-and-dime you to death. As in bury you 6-feet under. Always make sure the Realtor® you hire is an effective negotiator and understands disclosure law. Sellers are legally required to disclose knowledge of material defects.
7. Don’t be (too) greedy.
Good business people know their competition inside and out. That’s why you hired an experienced Realtor®, right? Price your home too high and it will never show up in the right buyers’ home searches while the homes around you sell. Your listing will appear for buyers looking at a higher price point for homes that are larger, more appealing, and with nicer upgrades. Would you pay more for less?
8. Don’t be a lingerer.
Your first 2-3 weeks on market are the most critical and when you will attract the most buyers. Stay flexible. If nobody is coming to view your home, a smart seller will take the hint and adjust the price in the first 2 weeks. If your house squats on the market, buyers will think something is wrong with the house and you’ll get lowball offers.
9. Treat your home like a centerfold model.
After you’ve made your house as cute and insta-worthy as possible, make sure your Realtor® hires the best photographer in town. Since your agent pays for the photos, make sure he or she doesn’t cheap out on you. Over 90% of buyers find their next home online and your photo is the first (and most important) impression they get. Great photos are so important!
10. Hire a skilled, experienced Realtor® like Barry Evans.
Nothing gets homes sold in the shortest amount of time for the most amount of money than an agent who understands your local market, and has a marketing plan that works. You might save a couple thousand going with a discount agent, but their lack of experience, inability to hire the right photographers, and attention may cost you $50,000 or more on the price.