The housing market since the COVID-19 pandemic has been tumultuous, to say the least. Economies worldwide are slowly but surely recovering from the devastating impacts of this crisis. At present, the real estate sector, especially in the US, is a seller’s market. Inventory is low and bidding wars break out whenever a profitable property comes up on the market. For someone selling a property, this time is ideal for making good bucks on their home.
Before we get started on detailing tips that will help you sell your home for more, let’s take a look at some interesting industry data that pertains to the current market. According to a recent report, hiring a reliable real estate agent is one of the preferred ways sellers list their properties. In fact, 21% of sellers enlist the help of agents to get more competitive rates for their homes. Moreover, once a seller finds the right agent, 53% of people stick with them for any future transactions.
Here’s how you can sell your home for more:
1. Start by researching extensively
When selling a home and wanting to increase the money you can earn on it, you’ll need to research many things. It is best to first evaluate the current market value using resources like the BOA tool. The Bank of America Home Value Estimator offers a simplistic approach to getting started on property valuations. The price that you get can serve as the baseline from where you start working on increasing it. Talk to
professionals in the construction industry, market experts, and real estate agents, or rummage through the unlimited cache online to find insights about how to increase the price. You don’t need to talk to every expert listed above. All you need to do is find the most qualified person in your circle and learn from them about what can help you sell your house for more.
2. Hire a trusted agent
As evident from the stats discussed earlier, many sellers prefer to list their homes with reliable real estate agents. There are many reasons behind this. Firstly, the networks and marketing capabilities that agents have are unparalleled. They know the people or organizations that are currently in the market, looking for homes to buy, along with the specific requirements that they might have. Also, real estate agents have extensive knowledge of the market and understand the factors that play a role in jacking up the price of a home.
You now know that hiring an agent is important, but what’s more important is that you hire a reliable person for the job. If you have an agent you’ve worked with and were satisfied with, then you’re in luck. However, you’ll need to start from scratch if you don’t. Since the agent can make or break your deal, it is best to put in the most effort to find the best person for the job.
3. Make improvements to the home that add value
Home renovations make the place more up-to-date and fresh. At the same time, some of these improvements add significant value to the home’s resale price. These improvements include all additions that increase the physical square footage or make the place feel more spacious. For instance, the presence of a patio can increase the home’s value by 63%, according to the National Association of Home Builders. Similarly, adding a home office, finishing the basement, or opening up the floor plan can all increase the amount for which you can sell your home.
It is important to note that you don’t need to go overboard with the home improvements because these additions can rapidly add to your costs. You can make an unlimited list of improvements to the property, but if you plan to sell, it is best to limit your investment to the things that will boost the home’s value without burning a hole through your wallet.
4. Invest on the exterior and curb appeal of the property
They say that first impressions matter, which is also true for homes. What a potential buyer sees on the outside will become ingrained in their mind. Simply by Standing outside the property, they form a mental picture of what the property will be like and what price they expect to pay. This is why it is important to improve the property’s curb appeal. Ensure the exterior color is perfect. At the same time, trim the lawn, and add flowers and other features that can make a difference to the home’s façade.
5. Visuals can make all the difference
Marketing has a significant role to play in getting you the right buyers for your home, and photos along with videos are the best tools for the purpose. In fact, did you know that video content can generate 1200% more shares on social media than text and photos together? That being said, high-quality, detail-oriented photos of the home can make all the difference when it comes to selling the property. The better
your pictures, the more chances you have of attracting buyers for the price range you are demanding. On top of that, adding a video to the portfolio can elevate the response substantially.
6. Stage the home in the most beautiful manner possible
Once again, it is about your home’s impression on the buyer. You don’t need to offer the staging furniture with the home, but it should be set in such a grand fashion that people drool over the place. The best staging is obviously where the floor plan is accentuated to the max. You need to show the buyers where natural light comes from, how the home is designed to provide a comfortable ambiance, and other relevant aspects that can catch their attention. Staging can make a world of difference in comparison to an empty home because, with furniture, people can imagine more clearly what the home will look once they move in.
Conclusion
Making more money on a home is an art and a science combined. Obviously, there is logic behind it, and you can achieve this objective by investing in the right tools. Start by hiring an agent for their connections and marketing prowess. Just make sure that you get a reliable and professional person. Next, you invest in small renovations that add value to the home. You follow this up with a high-quality photo and video shoot of the place and staging it to perfection. Follow these steps carefully, and you’ll be able to jack up the price and demand for your home.
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