A risky housing market means homeowners need all the help they can get. What many sellers forget is a great deal doesn’t depend on luck or timing. It is about knowledge and skill when it comes to showcasing your home. Let’s go through some valuable tips on how to get more than your asking price when selling a home.
Don’t Accept the First Offer
It can be tempting to sell quickly by accepting the first offer and this is a good strategy towards the end of a selling season and in other unique situations, but sometimes it's better to wait a bit and create competition among buyers to push the offers above asking price.
Make Your Home Special
Staging your home can increase your profit margins and create more competition between interested buyers. We recommend using color creatively throughout your home and to minimize clutter as much as possible. People label your home off of first impressions and you need to make sure it speaks to buyers.
Your home needs to stand out. Invest in renovations that add value to your home and that have the highest return on investment. Repainting, changing fixtures, and updating your landscaping are cheap and effective techniques that can add thousands to an offer on your home. Updating your kitchen, bathrooms, windows, finsihing your basement and repairing your roof are all high ROI projects. Be sure to download our free eBook for a list of other high ROI projects and other helpful tips before selling your home.
The Guide to Selling Your Home
Selling your home doesn't have to cause a headache. Our experts at the Colorado Dream House Team have assembled easy-to-digest tips and tools to help at virtually every step of the selling process.
Choose a Professional Real Estate Agent
Before choosing an agent, do your research on your neighborhood and what similar homes near you have been selling for. It's also important to do your research on your realtor, you can save hundreds of thousands of dollars by using a seasoned professional. Do your research, understand the fees, and do your homework. You can read our blog on Knowing the value of a professional realtor for more information.
Ask for Less
This is the technique all real estate agents know. It may look counterproductive at first glance, but it creates the attention that you need to increase competition among buyers. When you price your home a bit lower than you were aiming for, you attract buyers who will be ready to offer more to outbid the others. In addition, you will get a great offer when potential buyers come to see your home and realize its value.
We hope you enjoyed these highlights and important tips for getting an offer above asking price. It is all about understanding the potential buyers, the market, and most importantly, your location and the trends on prices for homes in your neighborhood. Creating competition is a great way to get more for your property, especially when you know how to focus on the uniqueness of your home and make it stand out.