Even in a Competitive Market Favoring Sellers, Knowing When and How to List Your Property Will Ensure a Maximum Number of Offers and a Lucrative Sale.
Considering the historic seller's market we currently find ourselves in, it's easy to think that simply listing a home for sale will have buyers knocking down your door in droves.
That may be partially true considering the historically low inventory, but to command top dollar for your home still requires effort, and in some cases, a little investment. It also doesn't hurt to have a smart, market-wise agent on your side.
If you're uncertain of some key home selling best practices, including knowing when to list, below are four selling preparation tips.
Know Your Home's Value
Understanding what your home is worth is critical to being a good homeowner long before you ever transition to selling a home. It helps inform any improvements you want or need to make and guides you in decisions such as updating your homeowner's insurance or choosing when to refinance. When plans do call for potentially listing your home, compare it with recent transactions in your market area to understand how the property has gained value or depreciated.
Research homes that are roughly the same age and have approximately the same square footage as yours. Also, look for those properties that share similar features. Knowing what's out there will determine the dollar amount your home may command and if it's in line with your expectations or if you need to take further steps to improve its value.
Clean, Declutter, Repair
The moment you believe the time has come to sell, it's time to get your sales prep started. Underestimated by many home sellers, cleaning, decluttering, and repairing provide an instant boost to your home's value. It's also the most time-consuming step in the sales preparation process, so the sooner you can start, the better.
By cleaning and decluttering (and depersonalizing), you get your residence ready to show. Critical to making a great first impression, buyers can more easily picture themselves in homes that are less "lived-in" than those that reflect evident wear and tear. If you want to make an even more significant impact, consider updates such as fresh paint or updated fixtures and lighting.
For repairs, address those items most likely to create friction in the negotiation process. No one expects you to make wholesale changes to your home, but to avoid surprises, it's worth having your own inspection completed first. Then you can decide what you're comfortable with addressing before listing and what you're willing to negotiate with the buyer later on.
Dress Up Your Curb Appeal
Similar to our previous step, the exterior of your home is just as critical to generating high-dollar offers as the interior. Again you don't necessarily need to make large-scale improvements, though your facade, gutters, windows, and roof should be well maintained and in good condition. Clear away debris, cut back any overgrowth, and add pops of color.
Potted plants on porches and patios and addressing any bare spots in the yard will help forge a clean, uniform appearance for the home. Beyond those basics, power washing and decluttering your backyard spaces will only enhance your home's sales potential.
Partner With a Market-Savvy Listing Agent
Once your home is near its showcasing potential, it's time to bring in a trusted listing agent who's well-versed in the particulars of your specific market. Not only will they provide you an appraisal of where your home currently stands, but they'll also suggest further steps and improvements (such as staging) to ensure your home stands out. Standout agents also provide guidance on what to list your home for and how to create buzz and multiple offers.
Believe it or not, there's even a bit of a science to the optimal time to list your home. Late afternoon on a Thursday or Friday will put your home near the top of new listings and on a buyer's must-see list. Considering the importance of timing, your agent will know when and how to generate maximum exposure for your listing.
Ready to sell your current home or in the market to buy and make your next major move?
Contact Prema Subramaniam today and let her be your guide to East Bay luxury homes in Danville, Dublin, and Fremont, California.
