A Guide to Selling Your Home Part 2
The Top 3 Strategies to Sell Your Home for the Highest Price
With the change in the market, it’s time to get your house ready to list and have a good marketing strategy
1 Choosing The Right Listing Agent
The biggest and most impactful thing you can do when selling your home is to choose the right agent. Choosing the wrong agent can cost you tens of thousands of dollars, a lot of stress and possible complications with the sale, so if there is only one thing you do before selling your home this is it.
There are agents and brokerages that have a very different approach on how to sell a home and work with their clients. Some may offer a discount that can save you a few thousand on the commission but may cost you tens of thousands in the long run. Others promise to sell your home in a matter of days, and sell for a lot higher than a “traditional” sale, but are these just gimmicks to get you to list with them? Do they deliver on their promise? I decided to check into one brokerage that claimed they would sell your home for a higher price in a shorter time than other agents. Of course, during the boom of 2021-2022, every agent sold their listings for above asking price, most homes had bidding wars, and just about every agent sold their listing within a few hours of it being listed or even before it even went on the market, that was nothing unique to one brokerage. The real test is how did some of these brokerages and agents fair now that the market has shifted? I ran comps on all the homes sold by a brokerage that claims to sell for the highest price and not only were their homes on the market longer than others but when I compared the price of homes they sold to my sales in the same neighborhood in 2022, my listings sold for 8% higher.
You want a local expert with a top-notch marketing plan and a proven track record. I recommend meeting with 2 or 3 agents or as many as you need to find the right one for you. If you Google their name, you should be able to see their reviews by past clients and how active an agent they are. This will help you weed out agents that don’t have a good online presence which is essential in today’s market, or those with few or bad reviews.
Not only do you want an agent with a top-notch marketing plan, but it is so important that they help get your home ready to list. Having your home staged and ready to go on the market and preparing your home for showings will get you the most showings and sell for the highest price in the fastest time. When I am showing homes, I am always shocked at how many I see that have not been prepared for listing or showings. Equally shocking is when I deal with an agent who clearly doesn’t represent their clients to the standard they should. No matter how much you prepare your home for sale if you don’t hire a top agent you won’t get top results.
There are many good agents so there is no need to have bad representation. It doesn’t cost anymore to hire a top professional Realtor so don’t settle for anything less.
For a list of questions to ask a Realtor when you meet with them for the first time please visit my website blog or contract me directly and I will send them to you.
2 Don’t Over Price Your Home
Everyone wants to sell their home for the highest price but overpricing your home will have the opposite effect. An overpriced home is going to sit on the market, and you will end up having to make price reductions until you get to the realistic market price. This is what we call chasing the market and you will end up selling for a lower price than if you would have priced it right when you first listed it. If your home is overpriced, you make the competition look more attractive to buyers and actually help sell your neighbor’s home.
I am such a big advocate for staging and how important it is for every seller no matter what kind of a market we are in. Even when homes were flying off the shelf with multiple offers and above list price, I still staged all my listings. That is because staging a home can get you thousands more and sell your home faster.
Staging a vacant home: If you are selling a vacant home having the rooms furnished will make the home warm and inviting and give the buyer a true sense of the space. If you can’t stage with furniture just having accessories will make a big difference. It not only gives the buyer something to look at other than bare walls and empty rooms but can be used to accent and highlight the best features of the home.
Staging an occupied home: If you are living in your home having someone come in and stage the home for you can make such a big difference. While your home may be tidy, everything in its place and just how you like it, the problem is it’s how you like it. It is very hard for someone to view their own home through a buyers eyes. While the oversized cabinet is something you love and brings back memories, to a buyer they see an old piece of furniture that makes the room look a lot smaller than it is. Moving or removing furniture, decluttering, depersonalizing and adding fresh new accessories will make your home feel bright, open and spacious.
I offer a free staging consultation and free home staging. If you would like a consultation on what you need to do to get your home ready to list or need your home staged please contact me to set up an appointment.