If you want to sell your home, then there are some things that you must do to get the best bang for your buck. Selling a home is a big adventure. There are plenty of things you should do and some you should avoid. Here are the top 10 things required to sell your home quickly.
Table of Contents
- 1 1. Don’t Be Tempted by Savings in a FSBO Deal
- 2 2. Use A Qualified Real Estate Agent
- 3 3. Make Necessary Upgrades to the Home
- 4 4. Enhance the Landscape and Curb Appeal
- 5 5. Photography/Video/Virtual Tours are Essential
- 6 6. Home Staging is Everything
- 7 7. Ask for Pre-Approved Buyers Only
- 8 8. Get an Appraisal
- 9 9. Don’t Overprice Your Home
- 10 10. Be Flexible
1. Don’t Be Tempted by Savings in a FSBO Deal
Many people think that selling their home without the help of a realtor is the way to save money. It seems like a reasonable answer when you have a tight budget to pay off the original loan.
While you may save money from the realtor fees, it can be a nightmare to sell a home without the help of an experienced realtor. You would still need to hire legal counsel to prepare documents and make sure that you have everything done to transfer the deed and such.
When you consider all a good realtor does for you, the price is small. They take the burden from your shoulders.
2. Use A Qualified Real Estate Agent
Finding an excellent realtor is an asset in the housing market. These are trained individuals that know how to market your home. They have an extensive client list of people that are looking for homes and can recommend yours to those waiting. Plus, more prominent firms have a professional photographer on staff, an IT department that helps them list and put things on the MLS, and they have many connections with lenders and contractors in the area.
3. Make Necessary Upgrades to the Home
Go around and make a list of all the things in your home that could be a turn off to potential buyers. One of the biggest things you can do is paint everything a neutral pallet. Sure, you may love your daughter’s pink bedroom, but it won’t appeal to every buyer. What if a potential buyer only had a son? If they see work that needs to be done, they may look to another home that is more turnkey.
Additionally, if you have old or outdated carpeting, then you need to get rid of it. People are all about hardwood floors these days because they are durable and don’t retain the allergens. Sure, you may need to put a few thousand dollars into the home to make it sellable, but you will get back these expenses when you can offer the house for more money., and if you need help with the costs upfront, use something like title loans to pay for them and then pay it off after closing.
What about your kitchen? Is it old and outdated with antique appliances, or is it posh and fresh? People want to see bathrooms and kitchens updated. You will get almost 100 percent return on these rooms in even the most impoverished market. Your profits will be cut drastically if these rooms are full gut jobs to bring them to today’s standard. Consider investing the money in making them up to date.
4. Enhance the Landscape and Curb Appeal
Your landscape will make or break your home. You want people to drive down the road and point out your abode because it has a well-manicured lawn and stellar florals. Get rid of any dead bushes and make sure that you have flowers and plants that will add greenery to the yard year-round.
Get rid of any clutter, broken down fencing, and anything else that is an eyesore from the road. Drive down the road and give your home an honest first opinion. Would you repurchase your home the way it looks right now?
5. Photography/Video/Virtual Tours are Essential
If you pick the right real estate agent, they will take care of this part of the process for you. However, if you decide to use an FSBO contract, then you will be responsible for all the marketing. Today’s buyers do a virtual tour before they ever come to the home to see it. They want to make sure that the bedroom will work with their furniture and that they like the arrangement of the kitchen.
If you don’t use social media to showcase your photography and virtual tours, then your home may sit on the market longer than usual. People don’t like open houses and drive-by shopping as much when they can get on their computer and find out everything they need. It saves them time and money to only visit homes they are interested in buying.
6. Home Staging is Everything
If your home is empty, then you need to stage it. If the house is furnished, then you need to remove about one-third of the items. The goal is to have the home clutter-free and void of any personal belongings. You don’t want the potential buyer to see a photograph of your family on the fireplace. Instead, you want them to envision their family in that spot.
7. Ask for Pre-Approved Buyers Only
As the seller, you have some control over who tours your home. If you want the closing processing to move quickly, then ask for only pre-approved buyers to look at your home. When a person has a pre-approval notice, then they are already approved by a bank that is just waiting for them to find the right home.
Sure, someone who isn’t pre-approved may be just as qualified to buy the house, but it moves the entire process along faster when they are already working with a lender and have done the preliminary steps.
8. Get an Appraisal
Go ahead and get an appraisal before you go through the home pricing process. You need to see how much the home will bring according to the appraiser’s figures. These numbers are what the banks and lending offices use to make loans. An appraisal isn’t expensive, and it can be beneficial before you start the process of selling your home.
9. Don’t Overprice Your Home
You want to get every penny out of your home that you can. However, depending on the market, it may be challenging to get what you want. Sometimes, you may be upside down in a mortgage. Just because you want a specific price from your abode doesn’t mean that you are going to get it.
Pricing a sale is where a realtor excels. You must pull 2-3 comparable properties that have recently sold within the past 90 days from your area. You should list your home somewhere in that category. If the home appraises for less than what you are asking, then the buyer must be willing to pay cash, or you must drop the price.
10. Be Flexible
Some potential buyers want the appliances, while others will ask for the curtains to be left behind. Be flexible in your dealings because something as small as a refrigerator may cost you the sale of your home. Some buyers can get picky when it comes to making a deal. You may need to be ready for a quick closing date and ensure that you have a plan should your house seller quicker than expected.
Selling your home is a massive adventure. However, there are some things you can do to make the process go smoother and to ensure you make more money from the sale. The most important thing you can do for this journey is to hire a realtor to help you. They have a plethora of experience in the market and your area, and they can ensure that things are simplified.