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Latest posts by John English (see all)
- Classification for a Legal Bedroom in NYC - July 21, 2018
- The Complete Guide to Selling Your Home in NYC - July 19, 2018
- Taxes for Foreign Buyers in NYC: Understanding the FIRPTA Tax - July 17, 2018
Perhaps you are outgrowing your first home, or you finally landed that dream job in another city. Whatever the reason may be, when you need to sell your home, you need to sell it at the best price and at the right time. If your next home purchase is contingent on selling your current home, the situation is all the more urgent. Here are four crucial steps you can take to make sure your home sells quickly and at a good price.
Image byAshley/ Flickr
1. Get A Real Estate Agent
This first step seems basic, but it is the most important one you can make. Sometimes owners try to sell their homes by themselves in an attempt to save some money, but ultimately these people miss out on a real estate agent’s professional insight. Your agent will have the experience, tools, and marketing abilities that help your home sell more quickly than you can alone. For example, your agent can price your home appropriately the first time and get your home maximum exposure on the market — both online and in your area.
2. Prepare Your home for Photos
Though sprucing up your home involves a bit of investment on your end, it will attract more interested and committed buyers. Also, you will have more negotiating power during the contract phase when your home is in pristine condition. If you want to get the most out of your home’s market value, then you should beautify your home’s interior and give your walls a fresh coat of paint. All of these touch-ups will make your home’s photos more appealing to prospective buyers.
3. How Much You Invest Will Determine How You Can Market Your Home
Move-in-ready homes are more desirable to standard buyers. If you invest in some attractive updates before you sell, then you can expect higher-priced offers. Though there is a market for fixer-uppers, a home without updates that is in dubious condition will likely sell at a lower price. If you choose not to pay for any updates or maintenance, your home will sell at a lower price or repairs will be negotiated into the offer. On the other hand, remarks about new appliances and fresh carpet can generate more mainstream interest and justify a home’s higher listing price. Ultimately, you will need to decide which investments are going to be advantageous to you in this transaction.
4. Make Your Home Appealing to Your Target Buyers
Your agent is your best resource for marketing your home properly. In the listing, he or she will emphasize your home’s best features and advantages that will appeal to your potential buyers. For example, is it good for commuters? Located on a quiet cul-de-sac? A great deal? Overall, your home’s value and condition will determine the target “customer persona”. Your agent is adept at tailoring your listing to your expected buyers. For example, high-end homes do not have as many qualified buyers, so the marketing must be aggressive in showing off your home’s best assets. If your home is affordable, however, you won’t have as many marketing needs. A good rule to follow is this: as the listing price rises; you need more bells and whistles to get your home sold quickly.