Navigating the real estate market may seem daunting, but essential tips for selling a home can guide you through this maze. Home sellers were in their heyday not long ago, as historically low mortgage rates triggered a real estate buying frenzy. However, the Federal Reserve shut down the party when it began raising interest rates last year.
Now, it’s not as simple to sell a home. While pandemic-era homebuyers were racing the clock—trying to lock in a low mortgage rate and gain a foothold in the market—current buyers are more discerning.
Higher prices and mortgage rates have pushed their affordability limits, leading them to prioritize cost, condition, and overall value. Keeping this in mind is one of the critical tips for selling a home in the current market.
Home inventory remains low, so most properties will sell with basic prep, the right price, high-quality listing photos, and a good, experienced real estate agent.
However, for homeowners willing to go the extra mile, the potential benefits include quicker sales and higher offers. This exemplifies one of the most valuable tips for selling a home: additional effort often yields greater rewards.
So if you’re looking to optimize your sales process, understanding and implementing these tips for selling a home are your first steps to success in today’s complex and ever-changing real estate landscape.
Strategies to sell your home
You’re ready to sell your home and want the best price possible. Trust me, you’re not alone. Most homeowners are looking for that sweet spot right listing price, where the offers are generous and the process is smooth.
The good news? There are specific strategies to make that happen.
Now, you might be wondering why you should listen to this advice. As a real estate agent, I’ve gained valuable insights into what works for real estate.
Through experience and research, I’ve pinpointed the methods that pull in the best offers. These are not just random tactics; they’re tried and true approaches that make a difference in the selling price.
Before we dive into these invaluable tips for selling yours, understand this: selling your home is a big deal.
It’s not just about slapping a “For Sale” sign on your front lawn. It requires a game plan.
The following strategies are your playbook for a successful home sale. They’ll guide you in selling, attracting prospective home buyers, and securing a sale that satisfies both parties.
1. UNDERGO A PRE-LISTING INSPECTION
Many homebuyers hire a professional to complete a home inspection before they close. But did you know that a seller can order their inspection, known as a pre-listing inspection before they put their home on the market?
Having a pre-listing inspection on hand and ready to share shows interested buyers that you’re committed to a transparent transaction. This can help you market your home correctly, strengthen your negotiating position, and minimize roadblocks to closing.
Of course, tips for selling anything, it’s always possible that a pre-listing inspection—which looks at the home’s major systems and structures, among other things—could become a significant problem.
This carries some risk, as you’ll be required to fix or disclose any issues to potential buyers. However, we feel confident in most cases, it’s better to know about and address deficiencies upfront than to find out mid-transaction when it could cost you even more money in the form of concessions, a delayed closing, or a canceled sale.
We can help you decide if a pre-listing inspection is right for selling your home. If it identifies any concerns, we can advise on which items need attention before you list your home.
2. CONSIDER STRATEGIC UPGRADES
Embarking on significant renovations before putting your home on the market doesn’t always make financial (or logistical) sense.
However, certain upgrades are more likely to pay off and can help elevate your home in the eyes of prospective buyers.
For example, refinishing hardwood floors results in an average 147% return on investment at resale, and new garage doors typically pay for themselves. Similarly, research shows that professional landscaping can boost a home’s value by as much as 20%.
Often, even simpler and less expensive fixes can make a big difference in how your home comes across to buyers. A fresh coat of paint in a neutral color, modern light fixtures and hardware, and new caulk around the tub or shower can help your property look its best.5
But before you make any changes to your home, reach out. We know what buyers in your neighborhood are looking for and can help you decide if a particular investment is worthwhile.
3. HIRE A HOME STAGER
To get standout offers, you need potential buyers to fall in love with your home—and they’re much more likely to do so if they can envision themselves in the space.
That’s where the best advice for professional photography and home staging comes in. Staging can include everything from decluttering and packing away personal items to bringing in neutral furniture and accessories for showings and open houses.
According to the National Association of Realtors, home staging can increase the dollar value of home offers and help a seller’s market or property sell faster. In fact, 53% of seller’s agents agree that staging decreases the time a home spends on the market, and 44% of buyers’ agents see higher offers for staged homes.
There’s plenty of strategy and research behind the selling process, so it’s smart to consider a professional. Reach out for a connection to one of our recommended home stagers who can help your property show its full potential.
4. Boost Curb Appeal
First impressions are everything, especially in an ever-changing housing market. When a buyer visits your home, their initial view can make or break the sale. If your yard is neat and welcoming, it sets the stage for the rest of the tour.
Now, don’t just take my word for it. Any experienced top real estate agent here will tell you the same thing. The exterior of your home isn’t just window dressing; it’s a critical factor that could bring in more buyers. Imagine a buyer’s agent pulling up and being just as impressed—that’s how you expand your buyer’s market.
So, what’s the action plan? You don’t need to break the bank. Simple touches like lawn mowing, planting fresh flowers, or painting your front door can make a huge difference. And if you’re unsure, a professional photographer can help your home stand out in listing photos.
5. Depersonalize Your Home
Imagine walking into a home filled with someone else’s family photos. It makes it hard for you to see yourself living there, right? Well, the same goes for your potential buyers. Clearing personal items is necessary to attract more buyers in this housing market.
You might think little trinkets or personal photos add charm, but the right real estate agent will tell you otherwise. Many real estate agents aim to help potential buyers picture their own lives in your home. Think fresh paint, a deep clean rather than family heirlooms, and personalized decor.
6. Maximize Natural Light
Who doesn’t love a bright, sunny home? In today’s buyer’s market, maximizing natural light can make your home stand out. A well-lit home doesn’t just look better in professional photos; it also gives off a more inviting vibe.
Even a few hundred dollars can make a big difference. Consider investing in clean windows, fresh paint, and new light fixtures. Don’t overlook the power of a deep clean, either. Not only do you give the place a fresh start, but you also allow more light to bounce off walls and floors. It’s a small effort that pays off big.
So, how do you ensure your home is perfectly lit? A pre-listing home inspection can help. This allows both you and the right real estate agent to identify areas of open house that might need attention. Remember, the goal is to attract more buyers and offer them a warm, welcoming first impression.
7. EMPLOY A COMPETITIVE PRICING STRATEGY
While listing your property at the highest possible price is tempting, that approach can backfire. Overpriced homes tend to sit on the market longer, which can drive away potential buyers—and drive down offers.
Alternatively, if you price your home competitively, which is either at or slightly below market value, it can be among the nicest that prospective buyers see within their budgets. This can ultimately lead to a higher sales price and fewer concessions.
To help you list at the right price, we will do a comparative market analysis or CMA. This integral research will help us determine an ideal listing price based on the amount comparable properties have recently sold for in your neighborhood.
Without this data, you risk pricing your home too high (and getting no offers) or too low (leaving more money on the table). Combined with our local market insights, we’ll help you find that sweet spot to attract the best offers while maximizing your profit margin.
8. OFFER BUYER INCENTIVES
Sometimes, sweetening the deal with buyer incentives can help you get the best possible offer. Incentives are especially helpful in the current market when many buyers are struggling with affordability and concerned about their monthly payments.
Options that can pay off include:
- Buying down their interest rate – You can pay an upfront sum to reduce the buyer’s mortgage rate. This approach can save far more than that cost over the life of both the buyer and loan, meaning it’s worth more to the buyer than a simple price reduction.
- Offering closing cost credits – You might pay a set amount or a certain percentage of the buyer’s closing costs.
- Paying HOA costs – You could cover homeowner association or condominium fees for a set period.
- Including furniture or appliances in the sale – If your buyer is interested, throwing in the furniture or appliances they want and need can make your property more appealing and attract buyers.
Buyer incentives vary, and valuing them can get complicated. We’re happy to discuss the options that might make sense for you.
9. USE A PROVEN PROPERTY MARKETING PLAN
Gone are the days when it was enough to put a “for sale” sign in your yard and place a listing on the MLS. A strategic marketing plan is essential to get your home in front of as many interested and qualified buyers as possible.
The truth is that buyers who don’t know about your house can’t make an offer. That’s why we utilize a multi-step approach to marketing that starts with identifying your target audience, effectively positioning your home in the market, and communicating its unique value.
We then use a variety of distribution channels to connect with potential buyers and performance-based metrics to monitor and improve our campaign results.
Our proven approach can have a big impact on the success of your home sale. Reach out to learn more about our multi-step marketing plan and discuss how we can use it to generate interest and offers for your home.
10. Be Prepared for Showings
When selling your home, you never know when a buyer’s agent might call. Keeping your home clean and show-ready all the time is key. It may sound like a lot of work, but deep, clean, fresh paint can work wonders. Plus, you’ll want every advantage in an ever-changing housing market.
How do you know if you’re show-ready? That’s where a pre-listing home inspection comes in handy. You can learn the best-selling tips from the inspection and the right real estate agent. So, you won’t just attract more buyers; you’ll wow them. A sparkling home sells more quickly in buyer and seller markets.
If you want to sell quickly, there’s no time like now. A few hundred dollars in the right places can make your first impression pop. Many home sellers think it’s a big job but about smart choices. With a professional photographer, even a modest home can look like a million bucks.
11. Work With An Agent Who Understands Your Area
You need a knowledgeable real estate agent who knows your area inside and out to get the best offers possible.
Any real estate agent can pull together comparable homes and sales data, but even the latest comps can lag the current market reality in a quickly evolving market.
We have our fingers on the pulse of both the interior and local market because we’re working directly with top real estate agents and with sellers like you. We also have other real estate agents who represent local buyers active in the market, searching for homes like yours.
That puts us in an ideal position to help you price your home for a quick sale and maximum profit. And since we hear first-hand what local buyers want, we can help you prep your home to broaden its appeal and highlight its most-coveted features.
Additionally, we can use our extensive network of local agents to solicit feedback and get your home in front of more potential buyers.
All these factors can add up to a significant difference in asking price and your profit: In 2021, the typical home sold by the owner went for a lower price of $225,000 compared to a median price of $330,000 for agent-assisted home sales.
In summary, selling your home for the best price involves more than just listing it. Every detail matters, from keeping your home clean and show-ready to maximizing natural light.
With an ever-changing housing market, you’ll want to be prepared for showings immediately.
Smart upgrades and attention to first impressions can make all the difference, drawing in more buyers and selling your home quickly.
So, are you ready to get an excellent offer for your home? Our multifaceted approach can help you maximize your real estate returns.
Don’t leave money on the table—reach out for a free home value assessment and a customized sales plan to get started!