Selling Your Home? 4 Rules That Can Make or Break the Sale
Category Newsletter: Property
Selling a house has become more complicated than simply sticking the "For Sale" sign in your front yard.
Times are changing and so must everything else.
The good news is that it has become easier for homeowners to access helpful tools in order to assist with the sale of their house.
Modern times have allowed the seller to be in the driver's seat and even though this sounds amazing, it can still be detrimental if you don't know how to navigate.
Consider your route before you start driving and keep these 4 rules in mind:
Rule 1: Price it right from the outset
Usually, homeowners are advised to price the home a bit above market value, so that you can still make the profit you want when negotiating takes place.
Don't do this.
In a fast-paced environment, this could serve to be a huge risk and you may end up losing more money than you are going to make. Your home has a good chance of sitting on the market and this makes it more difficult to sell.
If your house is still for sale a month after listing then buyers are going to assume that there must be something wrong with the house. Buyers also know when homes are overpriced, so don't try to fool them.
Your real estate agent will be able to help you determine the true value of your home and will assist you in finding the correct price.
They might even advise you to list the home a bit below market price. This could lead to a bidding war between buyers which means that the price will be driven up higher than you ever thought possible.
Rule 2: Splurge on staging
Today's modern buyer shops with his or her eyes, which is why presentation is very important.
Many sellers hire a professional home stager to organize their home in such a way that it is appealing to those who view it.
Staged homes sell much faster than non-staged homes and it becomes especially important after you've already moved out: no one likes a bare room.
If you can't afford to stage a house, at least make sure that the main bedroom, kitchen and living room are properly furnished. These are the most important rooms in the house.
Rule 3: Amp up your marketing
It should be obvious that professional photographers are a necessity when it comes to marketing, but many sellers are taking their marketing strategies to new levels.
Video tours are very popular with buyers and it is rather easy to do.
Simply walk around the house with a camera, edit it and post it online. It will feel like they are walking through the rooms themselves.
Social media is another clever tool to use when selling a home. Spread the word on as many social media sites as you can. Your house will be scooped up in no time.
Rule 4: Devise a plan on how to handle multiple offers
If you think that you are only going to get one offer on your house, think again (especially after following these rules). This can be problematic but in a good way.
You need to have a plan in place for how you are going to deal with this situation.
The decision will depend on what is important to you: do you want to accept the best offer because you want to move out ASAP or do you want to spark a bidding war?
Just remember that sometimes the highest offer is not always the best one.