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._1
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