6 Tips To Sell Your Property Quickly For The Highest Dollar Even During “Off” Season
Selling a house can be stressful, especially if you’re putting it on the market in the fall. Finding the right real estate agent to partner with to market your home is the first step and one that should not be taken lightly. But, the selling process shouldn’t be placed entirely in your agent’s lap.
There are several things that every homeowner can (and should) do to make their property standout since nobody wants a house for sale that rots on the market. Here are six tried and true tips to make sure your property stands out from its competition even in an over-saturated or off-season market that will ensure that you sell your home as quickly as possible for the highest possible price. Prepare yourself. None of these recommendations are easy, fun, or for the casual, uncommitted seller.
Clear Out Your Clutter & Get A Storage Unit: I get it. It’s hard not to accumulate stuff after being in a home for a few years. But, most people don’t have the vision to see past things like ill-sized furniture and clutter that makes the home look smaller then it actually is. And no one wants to step into a house that appears to be messy or disorganized. If you want to sell your house quickly do yourself a favor and clear out your space so the flow and square footage of the home is easily seen and highlighted. Also, remove personal items like photos or any highly valuable items since people want to envision their new lives in the home—not yours.
Clean everything out of the basement, the attic, and organize closets and pantries. What doesn’t go to storage either donate it or give it the heave ho. I know from very recent experience that a 10’ x 20’ storage unit will cost you less than $125/month (not including the sweat equity of moving everything out). It’s money well spent. Look at the exercise as an opportunity to streamline your life—believe me it will make your life easier when you actually move.
Fix Everything: Inspections aren’t just due diligence—they are re-negotiation leverage especially in a buyer’s market. Fixing everything before you list your property may sound like a daunting task with some houses but to every reasonable extent repair anything that’s broken especially the obvious eye catching ones like rotting wood on the exterior, peeling paint, stains on the floors and carpets, running toilets and dripping faucets, broken lights, cracked windows, electrical switches to nowhere, old termite damage in the attic, and leaks in your foundation or crawl space.
Any issues with the home will eventually be discovered by the buyer or during the inspection process and will most certainly cost you one way or another. If you are not handy or are unaware of the inspection process it might be a good idea to have an inspection before you list your property so there aren’t any big or expensive surprises. You don’t want to risk a deal falling apart over issues that could have been fixed right from the start.
Be Upfront About The Potential Shortcomings Of Your Property: Every home has its strengths and weaknesses some of which are undeniable. Knowing how to work with your agent to market and sell your property while acknowledging those weaknesses up front with potential buyers and other agents won’t waste anyone’s time (including your own), which will be appreciated by all parties. And beware of using superlatives in your listing like “immaculate”, or the often abused “gourmet chef’s kitchen”, unless your property truly offers buyers those characteristics. Your listing should be carefully written so that it is an honest portrayal of your home—especially since photos can be deceptive either in benefit of or detriment to the seller. There is nothing worse for a buyer then to be excited by the online presentation of a property only to being disappointed upon actually seeing the home.
Get Over Your Pride And Price Your Property Right: Nothing kills a real estate deal faster then an over-priced property. Don’t let your ego factor into the listing price. If you have chosen a strong real estate agent then trust them to guide you to the appropriate square footage cost. This is not to say that you shouldn’t participate in the price decision. However, in most American markets it’s still a buyer’s market and the days of bidding wars are mostly long gone for now. Choose a price that will get motivated buyers into the door quickly. If you price your home aggressively you may even create a bidding war and drive the overall sale price up to where you wanted it to be in the first place. If you and your agent can’t get comfortable with a number that works for you, perhaps you should sit tight and sell at a later time. One last note on price—buyers are more educated than ever these days so if you are going to ask for a premium over what your local square foot average is your house better be perfect.
Make it Experiential: Making your home a place that people don’t want to leave and must buy is the goal. As intrusive as it is to your life when people view your property you have one shot at making an impression. Take a play from the hospitality industry and make the showing experiential by stimulating all of the senses during a visit from potential buyers. Your home should be clean—that means no dirty fingerprints on doors or hair (human or otherwise) left behind for potential buyers to see. Your home should be uncluttered, and staged with fresh flowers, fresh paint, fluffed pillows, thoughtful décor, and overall be visually appealing. Turn on the music if you have surround sound. Light the fireplace. The small touches show that you care about your home and are often good indicators of how well kept the home is in less visible areas of the property.
Your home should smell appetizing too. No one wants to smell that you have three stinky dogs or like cooking venison stew in the fall. You could bake cookies, light candles, or run a diffuser with a clean smelling essential oil blend—whatever you decide choose something neutral and universally liked. Also don’t underestimate curb appeal. First impressions set a prospective buyer’s expectations before they even walk through the front door.
Put On Your PR Hat And Pitch Your House To The Media: Assuming that you have made your home picture perfect and you have the high-resolution photo assets to prove it, your home may be a good candidate for media exposure. If you have unique home whether it be architecturally or historically significant, someone notable has owned the property, or have any other unique hook, real estate writers are looking for stories like yours. You will have to do a little research to see what would be appropriate for your property as well as who to pitch the story to specifically if the publication does not offer a tip line or email contact. But on the high end you have outlets like the Wall Street Journal, Forbes, and the New York Times. There are also outlets that are architecturally driven like Curbed, Elle Décor, House Beautiful and many others. Even check your local paper to see if they spotlight properties for sale in your town or region.
As someone who not only writes about real estate but has also pitched properties to various media outlets with my former business, I know firsthand that media coverage has helped sell many properties. The more eyes that you get seeing your property making a positive impression the better chances of selling your home quickly and for the highest amount. Remember that just like in media—your window for staying front and center with your property is short. So make the most of it otherwise your wallet will take the hit.