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During this podcast for Getting Real with Real Estate, we will discuss Practical Tips for Selling Your Home, especially if you’re motivated to sell the home within the next 6 to 12 months.
In Part 1 of our four-part series on selling your home, we pointed out the strategies you should follow and myths to avoid if you’re looking to get top dollar and reduce the hassle that comes with the home-selling process. But in Part 2, we’ll provide you with some tips on how you can sell your home quickly, especially if you are competing with other homes selling at comparable price points.
So let’s begin
In our last podcast, we emphasized that before selling your home, you should always identify your main reason for selling to help craft your strategy to reach a successful sale. One of the motivations that many sellers have is to sell quickly. For example, you may be more motivated to accept a lower price if you can sell more quickly, especially if you need to relocate for some reason. Likewise, you will want to sell an Investment Property that you own more quickly, if it is not bringing you the desired income and profit. Yet, there are many instances where you can find two comparably-priced homes for sale in the same area, yet one can sell within a weeks while the other struggles to attract any buyers even after six months on the market.
So why does the one home succeed in being sold so much more quickly than the other home? We’ve compiled six surefire ways in which you can jump-start getting your home sold more quickly and effectively without bottoming out on your asking price.
Photograph Your Property Using a Professional
Pay attention to the quality of the images you use to display the inside and outside of your home. Homes always sell faster with professional photography. Even though one may find it tempting to use the camera on your smartphone, it is a bad idea. Unfortunately, most phones do not have an adequate flash and not enough light is brought into the room. Photographers have proper lighting equipment and lenses that can make rooms appear larger. Some realtors do have the proper equipment and can take professional photos for you.
Stage Your Home Effectively
Homes that have been “staged” typically sell faster than homes that are not staged. What do we mean by having a home “staged?” Think of your home as being part of a set for a movie or play. How would you want the exterior and interior to look if you were using them to tell a story? And how would you set the “stage” for that story to get a potential buyer emotionally invested in your home? That’s basically what staging is all about.
Some tips for more effective staging include:
- Start with the exterior of the home where you can often recoup close to the cost of any improvements. But try to minimize the cost of your renovations. Instead of investing in new siding, consider the less expensive option of repainting the exterior, if possible. If you don’t need to replace the roof, patch up any areas that are worn and likely to leak with time.
- Perhaps the home just needs some additional maintenance — mowing the lawn, cleaning the gutters, removing trash, washing the windows and doors, perhaps some additional landscaping, or patching some cracks to steps or walkways. All these can make a huge difference in what potential buyers will see as their first impression. And as the saying goes, you never have a second chance to make a first impression. The point is: make sure the condition and appearance of the outside of your property is inviting and isn’t the reason why prospective buyers look the other way.
- Now look at what you can do to improve the interior. First things first — make sure it’s clean and presentation-ready. Nothing else can turn off a buyer more than cluttered rooms, dusty hallways, or carpet stains that signal a worn and unattractive home.
- Don’t forget to remove the clutter before snapping the photos. Go room to room removing clutter and straightening up.
- If you don’t know what to do with your everyday stuff because you still need to live in the home buy some large plastic bins and label them for each room, such as Hall Bathroom, master bathroom, bedroom 1, bedroom 2, etc.
- Every morning before leaving for work, place the stuff that is lying on your nightstands and counters into the bins. Place the bins in the garage or in a large storage closet. Then when the showings are over for the day you can bring them back into the house to utilize your daily items.
Get a Preliminary Home Inspection
Hire a Home Inspector to do a preliminary inspection so there are no surprises. Some buyers look to renegotiate after their inspector gives them a laundry list of issues. Try to avoid delays and renegotiating by having one done prior to listing the home.
Consider Seller Concessions
Consider offering a sellers concession to your buyer prospects. Some folks may find it difficult to have enough funds to cover both the down payment and closing costs, and this of course has the effect of prolonging the sale. Some sellers might offer a 3% sellers concession to cover one of these items to help speed up the process.
Hire a Professional Realtor
Use a professional Realtor. Your realtor from the Diamond Listing Team of the Guardian Realty Center can provide you with valuable market data such as homes that have sold in the last 6 months, homes under contract, and active properties. Then we can make adjustments and analyze the data with you. Because we are in the market every day and have a pulse on what your property is worth, we can advise you on how to price it properly to sell quickly.
List Your Property Everywhere You Can!
Finally make sure you have maximum exposure for your property. You will need to have your property displayed on all the listing portals that are popular with online shoppers. Your realtor from the Diamond Listing Team of the Guardian Realty Center has access to thousands of websites and can display your listing on the multiple listing service which feeds to all the other websites.
To summarize, if your main motivation is that you need to sell your home as quickly as possible, make sure to use the following tips:
- Showcase your home using professional photography to make it look appealing and inviting.
- Make sure to stage your home effectively so that prospective buyers can visualize what it would be like to own and possibly live in it.
- Try to get a preliminary home inspection done to avoid any future surprises that can prolong buyer-seller negotiations.
- Consider in advance the type of seller’s concessions you can offer to prospective buyers to accelerate the sales process.
- Hire a realtor familiar with the market in your area to help you price your home properly and sell it more quickly.
- And finally, make sure you have maximum exposure for your property. The more eyes that have a chance to read about your property, the more likely you will be able to sell it quickly and to your satisfaction.
In a future podcast of Getting Real with Real Estate, in Part 3 of Practical Tips for Selling Your Home, we’ll discuss some of the strategies that Realtors use to sell properties in a competitive market. Plus in a separate segment, we will continue to provide you with some real estate market trends and statistics pertaining to properties in Westchester and Putnam counties.