Selling your home? Get high dollar results with these 22 strategies!
If you are thinking of selling your home, you need to start planning and preparing. Despite strong home prices this summer, selling your home can be stressful and extremely inconvenient. If you are interested in pulling in top dollar for it, it can be even more so. We’ve prepared a checklist of 22 important steps you can take to persuading qualified buyers to make generous offers.
1. Deep clean your home
2. Host a Friend Smell Test
3. Make it anonymous
4. Clean it up
5. Repaint with strategy in mind
Paint is probably the least expensive remodel that will give you the biggest payoff. Certain color combinations can actually increase the price your home can sell for. For instance, homes with blue kitchens and light blue baths respectively sell for $1,809 or $5,440 more than comparable properties with other paint colors. Blue is also a good color for bedrooms and dining rooms, with cadet blue on the bedroom walls carrying a $1,856 premium and slate blue in the dining room adding $1,926 to the home’s value. That $1,926 premium is the same amount that could be added to your house’s price tag if your living room is a shade of brown. Neutral colors are also a good bet for resale.
As a realtor and a general contractor specializing in remodels, I am happy to be of assistance in this area. Check out one of my recent sale in Gilbert that proved this theory by generating multiple offers at asking price prior to a single day on MLS and ultimately achieved a $1000 above asking price for my sellers!
6. Simplify your space
No matter how savvy your decorating skills, it is more important for home buyers to see the features of your home than your decor. Tone down that decorative bug and let your houses natural features speak for themselves. Furniture that might block important architectural details of your home should also be considered for storage. Unless you’re planning on selling your furniture, there’s no need to display it.
7. Update those light fixtures
Light can make all the difference in the world in indoor spaces! A well-lit and spacious home tops the list of buyer must-haves so give them what they’re after! Pop open those shutters and shades, replace bulbs in your light fixtures, consider light in areas that need it. The cost of replacing broken or damaged fixtures can be relatively cheap compared to the return.
8. Bring a little of the outdoors indoors
Consider adding fresh flowers and plants…they not only improve the smells in your home but they provide an inviting atmosphere and much needed color. Please note that silk plants are not a good substitute. They tend to gather dust which can be a definite turnoff for potential buyers. They can also become outdated and become a bit of an eyesore if not chosen judiciously.
9. Make fixes quick and simple
While every home will showcase a little wear and tear, consider taking care of that honey-do list. When buyers notice minor problems, it can set their minds on a trajectory of deferred maintenance and might start to worry you might have neglected more costly repairs in your home. If you have the talent, knock out these quick fixes yourself. If not, find a handyman to come in for a few hours and tackle all the minor repairs. It will help your buyers keep focused on the benefits of your home rather than it’s shortcomings.
10. Get real on price
One of the best things you can do is to know your area. If you have an agent, this is a step they should absolutely have done on the first interview in preparation for setting the price for your home. Pull the comps from homes that have recently sold or have been recently listed in your area. You should begin to recognize similarities between your home and other homes. You will be able to see where they might be having success or where something in particular is holding that property back from being sold and get ideas of where your house might be able to be more successful. Remember that no matter how cool your home is, price is king. If you are priced significantly higher than everything in the neighborhood, there is a strong possibility you should hunker down for a long listing agreement because you will be waiting on the more realistically priced homes to sell before yours will have a chance. Also be cognizant of the fact that newly renovated homes will move faster on the market than homes that have not had any updating done in quite sometime. Not all renovations are going to get you the dramatic payoff though (see #5) so make sure you speak with your realtor and a general contractor before you begin to see what renovations will get you the best ROI. One of my strengths is that I am both realtor and general contractor so I can advise on both with my clients.
11. 10-minute upgrades
Updating a home for sale should be done with great caution. Some major renovations MIGHT be worth the trouble but choose wisely because buyers may not appreciate your efforts. Sometimes it is the more inexpensive, simple little touches that can make all the difference in the presentation of your home. For instance, trading out brass faucets to chrome or swapping dated door handles for something a little more trendy can really modernize an older home. Trading out light fixtures in your home can make a huge difference in the appearance, both in terms of modernizing and in terms of adding light to otherwise darker areas of your home (see #7). These types of upgrade take very little time and money but add great value.
12. Make a good first impression
If you haven’t figured this out yet after reading the first 11, let me lay it out for you…FIRST IMPRESSION IS EVERYTHING! If your home cannot draw them in from the outside, they will never even make it through the door for you to advertise it’s virtues. Make your entryway as appealing as possible.
- Powerwash the exterior
- Keep your yard maintained (trim hedges, mow the lawn, etc.)
- Plant a few colorful flowers to brighten the entryway
- Give a fresh finish to your front door
- Repair any little cracks or weather stripping that may have opened up
13. Consider staging your home
This involves the strategic placement of furnishings and other decor to make your home appealing to the maximum number of buyers. Traditionally, this is a powerful tool used in the more expensive luxury home market and requires paying a professional home stager (who can bring in their own decor). This is worth the price in some markets but in lower priced markets, it might not be worth the spend. You can do some of this on your own though with powerful results. Clear off all your counters of clutter, display your fine china in a nicely lit hutch, set your dining room table, instead of the tv being the centerpiece of your living room you rearrange the furniture into a nice conversation area around a fireplace…you might be surprised how impactful a few little changes can be in highlighting the positive features of your home.
14. A purpose for every room
People have a hard time getting creative in a new space. Don’t make people guess what they can do with it…show them! Give a purpose to every room. If you have a guest room doubling as an office, pick one purpose and ditch the rest of the clutter. This might mean giving a new home to your office desk while you make the guest room an actual guest room. Help buyers visualize the things they can do with your home once they make it their own.
15. It’s all in the packaging
It’s all in how you package things. There’s a reason we wrap presents in expensive and colorful paper…it helps make the present even more attractive and special! Your home is no different. You want to show buyers the IDEAL picture of your home. Lush folded towels by the tub, scented candles, a decorative glass container housing bath salts would definitely paint that relaxing picture of comfort and ease when a buyer envisions their master bath. A nook with beautiful lighting, a cozy chair or a fancy throw with gorgeous hardbound books will conjure a “reading area” quite nicely. Paint that luxurious and serene painting and buyers will be all the more eager to cut that check to get that life started for them immediately!
16. Be ready with the numbers
Intelligent buyers are going to ask so you’d better be ready…what does your home cost to keep it all running? This not only gives buyers an idea of what they can expect but it also helps showcase how well you’ve maintained your home. They are much more likely to make an offer knowing the home has been cared for by equally intelligent homeowners. Receipts from water heaters replaced or air conditioning units you’ve recently serviced, copies of recent utility bills showcasing energy efficiency, warranties or manuals on equipment in the house…these can all be kept in a binder for easy reference and quick access. Buyers will be impressed by the care and attention you have paid to your home and will by more confident in their purchase.
17. Clear out the valuables
Having many motivated buyers viewing your home (the dream of any seller) can also open you up to thieves. Make sure your are selling your home and not advertising your valuables to potential crooks. Keep those family heirlooms, jewelry or precious works of art hidden away. A safe deposit box at the bank can provide temporary safe keeping, or consider storing valuables at a close family member’s home so you don’t have to worry.
18. Consider property taxes
Property taxes are a key cost considered by buyers and mortgage lenders alike when looking over the total cost of home ownership. Check out the property taxes of other homes in your area and see If your own property taxes measure up. Consider appealing your property taxes if they are looking to be higher than most. Exorbitant property taxes could scare off potential buyers as they see a large bill looming. It takes time to appeal so you’d need to make this consideration about a year in advance.
19. List your home on MLS
This is a crucial step you must take if you really want to get your property in front of the most potential buyers. You will either need to find an agent or work through a listing service. While there are services available to list on the MLS for a flat fee (usually around $300), finding the right agent is well worth your time and attention. You wouldn’t head into a courtroom without qualified representation, would you? You are getting ready to enter into legal negotiations for the most valuable asset in your possession…do not take that step lightly.
One way to vet potential agents is to visit open houses…see which agents do the best job engaging with potential buyers? Which agents provide the most impressive marketing materials? Check into their listings and see which agents provide high quality photos and descriptions. Many agents focus on specific areas and word gets around fast…talk with neighbors and find out who has a stellar track record in your area.
Whether your choose an agent or a service, expect to pay at least some commission to buyers’ agents. But unless you live in a very hot market, listing your home on the MLS will be essential to getting it sold because that’s the tool most people use to shop for homes.
20. Make a plan for your kiddos and furry friends
Be ready to show your home once you’ve listed. While appointments can be set, remember the goal is to be make viewing your home as easy and convenient for potential buyers as possible. One of those tools is holding and promoting a scheduled open house. But oftentimes, you might have buyers with short availability and you should plan to be as flexible as possible. That means having a plan to be available on short notice.
Kids and pets running around the house while a prospective buyer is trying to focus and visualize their own future in that space can be a distraction and turnoff — especially if buyers are concerned about pet odors or messes. Ask a friend to be available for quick baby/pet sitting needs. Give the neighbors kids a few bucks to walk your pets down to the park for a short time while potential buyers are viewing your home.
21. A picture is worth a thousand words
You’ve heard it before and it rings as true today as the day it was coined! Hiring a good photographer is well worth the time and money as this will likely be the first introduction potential buyers have to your homes availability. A good realtor will arrange to have these pictures taken immediately before listing your home. If you are on your own and don’t have a lot of money to throw at it, consider hiring a local photography student. Many of the trade schools have very skilled students eager to prove themselves and looking for opportunities. But this is an area well worth the spend as a well-shot photo can easily lead buyers right to your doorstep.
