Since the recession, the market has still not returned to the equilibrium we once had. With people not exactly looking buy residential homes since then, many sellers are at least looking for an offer but most of the time these offers are low-balled. When selling your house, that doesn’t mean you should accept the first offer that comes. There are still ways to raise the offer price and get what you feel you deserve for your beautiful home. In a real estate market filled with struggling- here’s how to get the best bang for your buck.
When listing your house it is all about presentation (refer to my last blog post about fall and winter staging tips). When you bring customers to a showing- they must feel like this can be their home. They need that comfortable, warm feeling you have gotten for so long while you resided here. If they are not interested by the first impression then it is much harder to persuade someone; by then you are trying to convince rather than having them be willing to work with what you have to offer to begin with. As I mention in my last post, all personal items must be stored away, everything must be tidied and neat to give the future buyer some imagination for their things, and most importantly keep the exterior groomed.
With all of that being said- more and more customers today are looking for turn-key properties. This means they want something ready to move into immediately. Before the recession, many people could afford fixer-uppers but now it is all about having to do zero work besides move yourself in and make it home. With things being renovated and completed, people will be more inclined to spend more since you have given them the added bonus of having new construction. Fixing up a bathroom or some kitchen counters is well worth what you could be receiving in the final offer.
However, don’t express what you have completed in order to retain more customers. If the buyer’s sense desperation then they will be less inclined to consider your property. If a seller is under stress to move out and get rid of their property it will appear as if you are just trying to rid yourself of the trouble and move on. Take the time to show you care about your customers and their future home.
When the renovation is all said and done, you can look forward to negotiating. Counter-offers are never something you should be intimidated by. You are passing on what had used to be your pride and joy. Especially if you have done new construction, this is worth asking more since work has been completed. While they may not accept your offer, there is always room for negotiation and working it out to satisfy both parties.
Most of the time, sellers price their home for the highest amount they assume they can receive for it. Sometimes this may work out but other times it discourages buyers to consider your home. In addition, when buyers see a listing on the market for a long time they will be less inclined to take a look at it. The more traffic you can get, obviously the better.
Lastly, use a real estate agent! ? With RonitGordonHomes, we will help you through all of these steps. People don’t want to deal with commission, but realtors are schooled in how to get the best price they possibly can while satisfying the buyer. They can even do the negotiating for you. The higher you sell your home for, the more profit for both parties. You are a team! With such extensive knowledge, they can significantly speed up this process and completely avoid having your listing sitting and waiting for a low-ball offer.
If you’re selling your home in the colder months of the year, you have so much opportunity to stage your house for potential buyers! Normally home buyers are going crazy in the summer months because school is out, making the market much more competitive. However, in autumn this lack of competition is advantageous. You can set up your home so buyers can idealize their new comfort zone. Fall and Winter are all about comfort.
With decor, keep in mind that a little goes a long way. You don’t want fall wreaths on every door or corner you turn in your home. Keep it simple. This way when you have buyers come, they can see what you have done while keeping some blank spots for their imagination. If you overcrowd your house it will look too busy and it will prevent the buyer from being creative; while wondering why there are so many vases with artificial maple leaves and bowls of fake fruit! Remember to keep personal items tucked away as well.
With daylight savings officially here, the nights come upon us much faster meaning less lighting. You are going to want to bring the light into your home. With your decorations, you can light beautiful scented candles-but not too many. A general rule when selling your home is to stick to unscented candles or basic scents-like those silly named candles such as “Sugar & Spice, Fall Harvest”, “Autumn in the Park”, etc. People have different tastes and you don’t want to turn off your buyer! Another tip is plugging in some lamps with delicate lighting to accentuate a corner of the room with a reading chair, for example. You want the buyer to picture themselves bunkered down, relaxing in their new home. Illuminate it’s best features, be imaginative! If you have a fireplace- spark it up! Nothing says home like a fireplace. You want your house to be a glowing welcome sign.
Our next tip is to decorate the outside! Getting caught up with the interior is easy to do with so much to work with. For the outside you want to keep it just as simple, though. Maybe a wreath on the door, some mum planters on the steps, really play up the fall or winter theme and colors. If it is around Holidays, add little things here and there. You don’t want to push your buyer away with in-your-face decor. Make it appealing to all customers. Also, clean up the yard whether that entails raking the leaves or shoveling the driveway and sidewalk.
Lastly, have fun! Bring out your creative side, design things you always have wanted to now that your home is cleaned up and simpler looking. There is room for anything your heart desires to make your house look appealing to potential home buyers. Just remember- don’t over do it! Keep it neat and clean._1
To learn more about Ronit and living in Bergen County, please follow us.