10 Tips to Sell Your Home Profitably and Quickly
The experience of selling your house can be extremely memorable and rewarding, but the process is prone to being fraught with costly mistakes. This often results in many homeowners having a nightmarish and awful experience, making it imperative to plan the process carefully to avoid such happenings. In order to ensure a smooth-sailing experience with that is both quick and convenient, follow these 10 tips to sell your home profitably and quickly!
1) Right place right time?
Be sure that your decision to sell the house is your best option, logical, and well backed-up. Selling your house cannot be done in a day. It contains risk factors, commitment, and a considerable sum of expenditure from you as well. Selling your house is also costly, things that you have to make provision for include administrative and legal charges, sales commissions, and other renovations and repairs you would have to make.
Timing is also key. There are often other alternatives to selling your home at the current moment. Waiting to sell, especially when property trends and interest rates are favourable, can heighten the benefit you gain from this endeavour. Sometimes, just simply working on your current home instead of looking for a new one and selling this one could eventually work out to be a better option as well.
2) Do your homework
Selling your house can be seen as a strategic game as well. Keeping up with the rapidly changing market conditions, you will need to make sure you have current and accurate statistics in order for you to analyze the impact of your sale as closely to reality as possible. To do this, take note of similar houses in the market, especially if they are in the same neighbourhood as you. Don’t just weight out the boons and banes of each house, get into the nitty gritty about the T’s and C’s of the sale as well.
Do everything you can to help buyers find their way to your home. You could provide as many pictures of the home and neighbourhood, future attractions that are coming to the community, and provide instructions and maps for their reference. Be open to feedback, and ask for true and honest opinions on how to improve from your salesperson.
3) Critique from the buyer’s point of view
Put yourself in the buyer’s place and don fresh new lenses as you scrutinize your home. By now, you would have grown accustomed to both the flaws and benefits of living in your home. To go about doing this, ask for help from family, friends and neighbours who might be able to offer fresh perspective to help you along. When you are able to, think as though it was the first time you are viewing the house, how would you enhance it? How does it feel like to you during daytime and night, and how is it different on the weekdays from the weekends? It all matters!
4) Study your competition
5) Do up your house
Just like the way you would present yourself on a first date, ‘dress up’ your house in a similar fashion for your buyer’s first viewing. It makes perfect sense to do so, as a strong and pleasant first impression would help you to fetch a better price. The feeling that buyers get when they step into your house must create the impression that this could potentially be a place where they could settle down in comfortably and happily.
Houses are bought on both emotional and logical premises. Both must be working in tandem to convince the potential buyers that your house will be the right one them. Without this, buyers might sometimes be quick to assume the worst of your house, which could create huge problems for you, and even end up costing you money.
6) Let your house do the inviting
Let your home speak for itself. For buyers to even consider viewing your home, they have to have reasons to do so. Impressions do matter, and these are imperative if you want to ensure buyers retain a positive attitude towards your home. If you keep shoes, plants, bikes outside your home, or have a little walk way that leads up to your home, spend some time tidying it up. Consider giving your walls or even the gate and front door a fresh coat of paint to create the impression of cleanliness and appeal. Nobody likes being greeted by greasy, much worse mouldy front doors. To everything in your power to ensure that a cosy sense of home can be conjured for your buyers when they step inside to view your house. It’ll definitely be worth it when you seal the deal!
7) What’s the price?
The pricing of your house in itself is tricky business as well. Underpricing it will lower your returns, while overpricing it deters people who could be your potential buyers. Your aim is to maximise the returns, while ensuring that it is still priced competitively and reasonably. The tag on your house also affects how long your house might remain in the market. Being there too long might cause the value to be lowered, or create the impression amongst buyers that there are flaws with your house.
Always check online portals like Propertyguru to find out the price of the houses your neighbours are selling and price them reasonably. Don’t forget, even listing out there are competitors!
They matter. The importance of your salesperson cannot be overstated. There are some who might just be trying to get you to sign the listing agreement with them, and even lower their commission rate in order to get you on board. Some others might recommend you to sell at unjustifiable prices. Your salesperson plays a huge role in the success of your house marketing campaign, as they are the ones who expose your listing to potential buyers. You could ask your salesperson how they would assure you of their professionalism, and what are their methods or plans in order to pitch the sale of your house. When you have found the right salesperson for you, and he is able to give you detailed processes of a plan you agree with and approve of, establish a good working relationship with him. He will be your teammate, and it will be half the battle won for you.
9) Give your buyers space
Your presence during the viewing might cause your buyers to be more reserved with their questions or objections regarding your house, especially since both of you have your own interests. It might make them feel pressurised to make a decision, and they could end up playing it safe and saying no to the house. Thus, try to make sure that the viewing is a comfortable process for them. Ensure that your salesperson is someone you trust, and is someone that is working with you to make the sale. Be comfortable with letting him handle the viewing, so that your buyers can also feel more relaxed in viewing and sharing opinions regarding the house with him.
10) Close the sale, seal the deal.
Negotiating would be critical in selling your house. It requires mental preparation as it could very well be a long-drawn process. Know where and how much you are willing to compromise, and your non-negotiable points. Have different positions and levels that you are willing to fall back on, and what are your terms and conditions. Do not be overly ambitious and price yourself out of the market. That would essentially be setting yourself up for failure. Keep in mind that your final selling price has to be in line with and supported by the market and lending institutions.
Many factors contribute to the negotiation phase. Your conduct and openness impact the buyers’ impressions of you. If they feel that something is afoot, they might lean towards not proceeding with the sale. Control your emotions in front of the buyers, no matter how unpleasant they might be. And as a nifty tip, to avoid creating the impression that you are desperate or anxious to sell the house, do not vacate it during the marketing campaign!
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