Although it may be easier to sell your home in a seller’s market, you should still put effort into making your home look presentable and valuable to potential buyers. There are a few key steps you can take to increase the asking price of your home, from working with an experienced real estate agent to making simple renovations and improvements. By taking these measures, you will be able to sell your home for more money and in a shorter time frame. If you’re looking to increase the odds of selling your home and making top dollar, experts say utilizing these 10 tips will help separate you from the competition.
1. Find a trusted real estate agent
If you want to sell your home fast and for top dollar, working with an experienced real estate agent is key. According to the National Association of Realtors, in 2021 homes that were sold without the help of a professional agent had a median price of only $260,000. Whereas, homes that did have an agent sold at much higher rates, with a median price tag of $318,000. When choosing someone to represent you during this process, be sure interview multiple candidates so you can find someone alignment with who could make this experience as seamless as possible for all parties involved.
2. Invest in value-adding improvements
It’s tough to decide which home improvements are worth the money, but thankfully there is data to help make the decision easier. According to Remodeling magazine, garage door replacements have the highest ROI of any other project, averaging just under 94%. If you’re looking to invest in your home, consider upgrading your kitchen says Realtor Jade Lee-Duffy of TXR Homes in San Diego, California. “The heart of the home is the kitchen, and many buyers will judge a property by its kitchen,” she says. “While a complete overhaul of this space can run into the tens of thousands, a minor update is where you can gain the greatest return. Think about resurfacing cabinets, replacing countertops, a fresh coat of paint or updating the fixtures and hardware.” According to Katie Severance, a Realtor with Douglas Elliman in Palm Beach, Florida, renovating a bathroom is another smart investment. “Renovated kitchens and baths are the ‘money rooms’ — those that add the most value to a home,” she says.
3. Up your curb appeal
Curb appeal is important because it’s your chance to make a good first impression.“Make sure your front yard is free of debris, the bushes are pruned and the grass has been cut,” says Lee-Duffy. “Also, add some bright potted plants by the front door to make buyers feel welcome.” Severance says that some easy updates that can really help improve your home’s curb appeal include touching up the exterior paint, adding window flower boxes, and installing a new mailbox. “Adding rich-looking mulch around shrubs and trees can really bring out the charm,” she adds.
4. Get a pre-listing inspection
Another step to think about when you’re preparing to sell your home is getting a professional inspection. “You don’t want any unexpected surprises,” says Lee-Duffy. “It’s best to find out beforehand if there are any issues that you can fix before buyers find out on their own.” That would give them the advantage in negotiations for a lower price, or–in a worse case scenario–a way to back out of the deal. So it may be worth spending a few hundred dollars to put your mind at ease. There is, however, a downside to a pre-listing inspection. “Beware, because once a seller becomes aware of an existing defect and does not correct it prior to listing, they are obligated to disclose it to a buyer,” says Severance. “Defects that a buyer learns were known but not disclosed, prior to accepting an offer, can kill the deal.”
5. Highlight the positive with professional photos
Investing in professional photography can help increase your home’s resale value. “The majority of people search for properties online,” says Lee-Duffy. “If the photos pop, it can translate into a higher sales price — and sell faster, too.” There are some things you may want to keep to yourself when listing your home online. “I advise against photographing every square foot of the home,” says Severance. “The goal of photographs is not to give all the goodies away online; it’s to make a buyer want to see more — to whet their whistle enough to entice them to see it in person. If they don’t come see the house, they probably aren’t making an offer.”
6. Stage your home
Severance believes that two guidelines should be followed when staging a home: using less décor and maintaining a neutral color scheme. “It’s very important to capture buyers’ interest from the front door,” she says. “Pay extra attention to the entry hall and invest heavily in staging this part of the house. Repaint; place flowers; buy a new area rug, an impressive mirror or a dramatic piece of art.” Declutter your home to make it appear bigger and more open. This means removing large pieces of furniture, getting rid of visual distractions, and minimizing the number of appliances on counters. “And don’t forget to stage the deck or patio, because that is an extension of the house that can make a small home feel much larger than it is,” Severance adds. If you want to increase your home’s value by improving its staging, then you have two options: do it yourself or hire a professional. On average, hiring a pro will cost about $1,728.
7. Set the right asking price
If you want to sell your home, setting the right price is key. A fair asking price will result in more buyers scheduling a viewing. “Setting the price too high can be detrimental and prevent buyers from walking through your front door,” says Lee-Duffy. “If you want to be conservative, always price on the lower end to entice maximum buyer interest.” It can be tricky to find the sweet spot of pricing for profit yet not overpricing, but that is where an experienced agent’s expertise comes in handy. They will know your house’s true value and how much you could potentially make from the sale. “Good pricing requires the expertise to thread the needle,” says Severance. “List at a number that is lower than comparable properties, in order to draw attention to it, but not so low that you will be disappointed if you only get one offer right at list price.” If you can manage to interest enough buyers, you may be able to start a bidding war.
8. Remove personal items
“The goal of any showing is for the buyer to envision their own belongings in the space,” says Severance. Therefore, even though family photos and other mementos might seem like they don’t affect how much money your home sells for, they really do matter — especially if you’re still living in the house while trying to sell it. “Buyers are thinking of their own furniture, where it will go and how it will fit. It’s the house they came to see, not the items inside of it,” she says. If potential buyers are too busy focused on personal items in the space, then they won’t be able to see themselves living there and making an offer.
9. Be ready to move fast
By preparing in advance, you will be able to more quickly respond when your property is listed and offers start rolling in. “Fill out all the necessary documents, such as any seller disclosures, and have paperwork for recent repair work, home renovation costs and utility bills on-hand for any buyer requests that come in,” says Lee-Duffy. Sellers who are slow in reaction time or unresponsive can lose buyers, adds Severance. “If the buyer feels that they are not being dealt with fairly, they are very likely to walk away,” she says.
10. Use your head, not your heart
Lastly, try to see things clearly and without emotion — your home is now a product for sale, not just “home.” Be aware of what you would be willing to concede if buyers made requests. It’s not uncommon for visitors to ask for repairs or credits, but as the seller it’s easy to get offended. “It’s important to take emotion out of it and remember that the buyer usually doesn’t expect to get everything they ask for,” says Severance. “Take a closer look at which requests are valid and fair, and offer something. The cost to you is not in giving the concession — it’s the expense of losing the buyer, putting the property back on the market, starting all over again and getting a potentially lower offer.”
