Placing your home on the market is a big decision, and navigating a challenging market can make it easy to get lost in the process. Even in a seller’s market where bidding wars are typical and inventory is in short supply, investing time and money into selling your home for top dollar can pay off.
With the right strategies, you can separate yourself from the competition and potentially sell your home for more money. Read on to learn about the four best-kept secrets for selling your home to maximize profit.
# 1 Work with a Skilled Real Estate Agent
Working with a skilled real estate agent is the most important thing a seller can do. An agent can walk you through every step of the process, handle complicated paperwork, help you set an appropriate price for your home, and deal with complex negotiations.
Even more important is that an experienced agent will understand what works and doesn’t work for your home and neighborhood. In fact, working with a Realtor can help you sell your home faster and for more money, according to the National Association of Realtors.
When choosing a real estate agent, don’t hesitate to interview several candidates to find the best option for you. Also, look for a tech-savvy agent with plenty of tools to sell your house as soon as possible.
# 2 Stage Your Home
When selling your home, you only have one chance to make a good first impression. While the exterior of your house might draw in potential buyers, the appeal of the inside of your home is also critical.
Capture buyers’ interest from the moment they walk through the door by removing objects and furniture that clutter and cause rooms to appear smaller.
Regarding staging, remember that less is more and neutral is king. If the thought of staging your home seems intimidating, consider hiring a professional staging company that can take the guesswork out of making your home look its absolute best.
# 3 Remove Personal Belongings and Use a Neutral Color Palette
Create a blank canvas for potential buyers to imagine what it would be like to live in your home. Remove as many personal items as possible, including memorabilia, family pictures, collectibles, and keepsakes. If you’ve painted your walls your favorite vibrant colors, paint them in neutral colors so prospective buyers can envision how they would add their own personal touches.
# 4 Invest in Improvements that Increase Home Value
Deciding which home improvements you should invest in can be difficult, and costs can add up quickly. Plan to spend money on the things that provide the highest return on your investment. For example, a garage door replacement can offer a considerable return. However, minor kitchen and bathroom upgrades can add even more value to your home.
On the other hand, certain home improvements may not pay off when you plan to sell. For example, installing a chef-inspiring kitchen may seem like a good idea. However, not every prospective buyer might share your enthusiasm. Furthermore, eliminating a bedroom to enlarge the primary suite might also decrease your home’s value, depending on the location and demographic.
Closing Points
Selling your home can feel like a complicated process, but with the right strategies, you can maximize your profits while reducing the time it takes to sell your home.
For most sellers, the most critical takeaway is to work with a skilled Realtor who guides you through renovation strategies, staging, listing your home, finding a buyer, negotiating the sale, and closing.