Correctly price your house
Many homeowners make the crucial mistake of overpricing their home. It’s understandable. All sellers want to walk away with the most money when selling our property. Unfortunately, this strategy will almost always backfire. You’ll most likely sell your home for less than it’s worth.
In order to get top dollar, list it either below market value or at fair market value ( how much it’s worth). If your home is in good shape and there’s no major negatives about the area or the property, you may list it below market value in the hopes of getting a bidding war. If your property needs a substantial amount of work or there is something undesirable about the area, it’s best to list your home at fair market value. A professional real estate agent will assist you in determining which strategy to utilize.
Completely stage your home
I spent 23 years assisting first time buyers and 10 years flipping houses. I know how to properly stage a home because I know what buyers want. I always made the effort to get inside their minds. I needed to know exactly what they wanted in a home. Below is a list of tasks needed to create a WOW! effect. Spending $800 to earn a $5,000 or more return on investment is a clever idea.
Below the last video are simple low-cost staging tips to help you get top dollar for your house.
Mass market your home
Similar to an auto auction, the greater the number of people bidding on your property, the higher the final price will likely to be. The same principal holds true when selling your house. The problem is, most agents simply list your house on the MLS, pass out a few flyers, and hold an open house. These marketing strategies alone will not get you top dollar.
Instead, you should mass market your property utilizing the following mediums:
- Post your listing in at least 30 real estate websites, especially in huge sites such as Zillow, realtor.com and Redfin. These days, buyers are searching on a vast number of real estate websites- the MLS alone isn’t enough.
- Pass out flyers to your neighbors.
- Hold an open house not once, but as many days possible until your house sells.
- Post plenty of ads in major social sites, such as Facebook, Twitter, YouTube (one-time video) and Instagram.
- Host a broker/agent tour. This is similar to an open house. Your agent should contact realtors in the area for a pre-showing.
Hire a professional agent
If you owned a multi-million dollar business, you wouldn’t hire an entry level CPA to file your taxes, would you? Your home is probably your largest asset. Therefore, interview three agents. A professional agent will provide the following:
- Experience. It takes an agent at least 3 yrs. to be proficient in all aspects of residential real estate.
- Well-rounded. A professional agent has a strong knowledge of related trades, such as: mortgage loans, finance and property conditions.
- Knows how to get you top dollar for your house.
- Familiar with the area where your property is located.
- Provide referrals of satisfied clients.
- Credible. Check license status and disciplinary action with the California Bureau of Real Estate (B.R.E.). Also check with the Better Business Bureau (BBB). If there’s been any complaints against a licensed agent, these two agencies will have a record.
- Shrewd negotiating skills. A professional agent will always look after your best interest. During the listing interview, ask him exactly what he will do for you. Ask “why should I hire you?” Ask him what he will do to get you the best offer. Your instincts should tell you if he is looking out for you or not.
Now that you know what it takes to get top dollar for your house, you can demand your agent implements these strategies. The ultimate goal is to create a WOW! factor. Doing so results in multiple offers. Multiple offers lead to figures greater than your home is worth. Now that’s how to get top dollar for your house!
Low-cost staging tips
- Ensure that each room or area is displayed for its intended use. For example, if your house has three bedrooms and there’s a billiards table in one of the bedrooms, it will not only look awkward, but in your buyer’s mind, it will appear as a two- bedroom home.
- Declutter. Cluttered areas make the room/area look smaller. Keep in mind that women usually decide which home to buy. Most women love plenty of closet and cabinet space. Also remove excess furniture. This will make the rooms appear larger. Hold a garage sale or rent a storage to declutter.
- Curb appeal. You know the cliché: you can’t change a first impression. The face of your property is the first thing your buyers will see. Make it look attractive. Also, ensure your cars aren’t parked in your driveway during showings. Below is a list of improvements to perform in order for the face of your house to look immaculate.
- Use of video. The vast majority of people would rather watch a video than look at photos. Make sure your agent offers a virtual tour or a video slide of your home. Display plenty of lighting and showcase every room in the house. Also, video record the entire exterior of your home. If your backyard is large, consider drone video for an aerial shot.
- Listing description. Writing is an art form. Choose adjectives that paint pictures. For example, upscale steakhouses tout: “Our mouth-watering, succulent steaks sizzle and melt in your mouth!” Therefore, don’t write objectively: “Nice house. 3 bd./2 bth. in nice area.”
- Update/remodel kitchen and bath(s). The three most important areas of your home for obtaining top dollar are: kitchen, bath(s) and curb appeal. If you have funds to remodel these areas, great. If not, stage and spice up these areas. Replace any outdated fixtures.
- Remove pets prior to showings. Some people are afraid of, or dislike animals. Simply move them to the garage or a confined area. Also, move the food & water bowls outside.
- Update your lighting. Replace outdated or poor lighting. Poor lighting feels gloomy and depressing. On the other hand, a bright, light look conveys happiness.
- Use neutral colors when decorating. When a potential buyer is viewing your home, she is imagining how her furniture will look in your house. If the walls aren’t painted a neutral color, such as various shades of white or beige, her furniture might not match. Also, painting the entire house (excluding bathrooms and kitchen) one color makes the home look bigger.
- Make your house feel like a home. People buy homes, not houses. Psychological effects have a huge impact on buying decisions. Hang pictures on the walls. Place a couple of drops of vanilla in the oven prior to showings. Leave the T.V. on. Play soft music. Place fresh flowers near the entrance of your home. Place a welcome mat and flowered plants near the door. Place knick-knacks near amenities such as a fireplace in order to make it stand out. Do whatever you can to make your home feel “lived-in.”
- Clean your roof. To get the best bang for your buck, simply buy a brass nozzle with a small tip at Home depot for a few bucks. Attach it to a garden hose. Spray all-purpose cleaner on your roof, then wash and rinse. Do the same for exterior walls and windows. In addition, clean concrete using a masonry degreaser and rust remover. You can purchase these at a janitorial supply store.
- Ensure your landscaping looks immaculate: trim trees, especially those close to the roof; prune shrubs and bushes; fertilize the lawn; keep your lawn mowed and edged until close of escrow.
- Paint the interior walls. Paint is the cheapest material that gives you the highest return on your investment. If your walls look faded, apply a fresh coat. Walls take much less time to paint than trim.
- Paint the kitchen cabinets. The kitchen is the most important room in your house. There is no other improvement that will give you a better return on investment than painting the cabinets. Prime and paint the cabinets using a pure white color. Then install door handles and knobs. Cost of materials: $250. Value: a whopping $2,500!
- Decorate the kitchen countertops. Place new kitchen appliances, such as a blender, toaster, coffee maker, etc. (return them after the sale or keep them for your new home); place knick-knacks, such as a knife cutter set; Clean grout lines with 3 parts baking soda to 1-part water and mix.
- Spice up the restrooms. Clean grout on the tiled areas; disinfect the entire bathroom using Pine Sol; install low-cost bathroom fixtures such as a glass shelf, towel and toilet paper holders; use TLC and Magic Erasers to clean the bathtub and toilet; place a soft, comfy floor rug and a toilet seat cover.
- Clean all flooring. Polish hardwood/laminate flooring; steam clean carpets.
The above-mentioned improvements cost so little but will offer you a huge return on investment! The key to selling for top dollar is to get inside the mind of your buyer. Notice that every point I mentioned in regard to staging has everything to do with perception. The value of your property to your buyer is based on how much they perceive it to be. If your house looks impeccable, your buyer will assume your house is worth more than it is. As a result, you will get a higher offer.
I am very credible. I have an A+ rating with the Better Business Bureau (BBB):
Impac Realty is also licensed by the California Department of Real Estate as a real estate brokerage. I am proud to announce that in 22 years, I have never had a single complaint from any of my previous clients. To view my license, type in my license number: 01232081
You may check out my company profile on linkedin.com Here you will find my resume.
Call now to schedule your free consultation!
17777 Center Court Dr., #600
Cerritos, CA 90703