Most people just want to get their property sold and move on with their life. That ‘let’s just get it over with’ attitude has made people lose a great deal of money, that would have been theirs if they just tried a different approach. That is what this is about. As it stands, selling off your property is already a hard enough emotional affair. Getting short changed alongside that will make for a very painful experience. In this article, we will cover what you need to do to get a good deal and make the most money possible from the sale of your house.
Maximizing Your Sale: How to Make the Most Money for Selling Your House
To maximize your net gain when you sell your house, here are a few things you should consider doing the following:
1. Get an agent who knows the market
While you may choose to sell yourself, it’s not out of order to use a real estate agent and if you’re going for an agent at all, then you should go for gold. Never settle for an agent simply because he has the best speech or the cheapest rates. That will not be beneficial in the long run. Instead, what you should look out for is a knowledge of the local market and an experience making sales in your local area. These are absolute ‘must-haves’ for any agent you want to recruit to help in the sale of your property. The right agent will help you fix a competitive price, set the right expectations, and accept the best offers. The right agent will also help you screen potential buyers so you only get those that are likely to make an offer, negotiate a good price and help you close your sale deal faster.
2. Cut down on costs
The costs to sell your house can quickly pile up if you are not paying much attention to it. From hidden costs like marketing costs to conveyancing costs, home staging costs, costs of renovation and repairs, to a more obvious cost like your agent’s commission, do everything to ensure that you reduce how much you spend leading to the sale of the house. For example, ensuring a quick sell is a good way to reduce prolonged advertising and listing cost. Also asking for a reduction in your agent’s commission can help you save money. For example, if you stay in Adelaide, you can check for the whichrealestateagent.com.au real estate commission in Adelaide to familiarise with the market average and then request that your agent beat it down for you. Again in staging your house properly, be sure to do it right so you do not waste resources. Buyers have different tastes but there are things everyone looks for in a house. Those essential areas are where you should focus your home staging efforts around. Overall, the idea is to cut down what it costs you to sell the house so that your net price will increase.
3. Make the house ready
Many people make the mistake of leaving their house as it is when they want to move out. This is not advisable. An unkempt house can turn off a potential buyer but a well-prepared one can spark interest, and help you close a sales deal faster. Home staging is what you do to make your house look more presentable to the potential buyer. It’s like giving your house a facelift so anyone will find it attractive. Even though it may cost you some money to retain the services of a home stager, it can also help increase the value of your house before the potential buyer.
Again, if you cannot use a professional for your home staging, you can take it on yourself. According to a report by Realtor the living room, bedroom and kitchen were considered the most important areas by buyers so focus your efforts here. Ensure the rooms are well lit, adequately ventilated, have a nice smell, beautiful walls and polished floorboard. Also, keep the oasis clear and clean as spacious rooms tend to be more appealing also.
4. Understand timing
Not every time is a good time to sell your house. For example, it is common knowledge that many people like to move in the warmer months and holiday seasons. This raises the market demand and can result in a lowering of the average market price resulting in a buyers’ market. However, if demand is high but there are only a few houses for sale, it’s a sellers’ market as you can afford to choose the highest bidder allowing you to make more money. So when you choose to sell, choose your timing as well.
Sometimes though, timing is about location. A good time to sell in your area might be a festive period when many more people return to town. It may be a particular season. Whatever your location, understand the timing by studying the market, and as much as you can, use it to your favour.
5. Sell it yourself
Talk about bypassing massive spending. The way to do it is to be your agent. That saves you the cost of paying the agent’s commission which may be as much as 6% of the whole selling price. If you can take it on, then selling yourself is a good way to increase your net gain on your house sale. If you have the time, and the knowledge, it’s a good way to go. However, you will need to equip yourself with knowledge about the prevailing real estate market condition to set a competitive price and align your expectations with the market trend.
The secret to making the most money off the sale of your house is to understand what obtains in your location and how the local market trends can affect you. Consider gathering understanding in this regard or getting an agent who does and either personally or with the agent, get ready to hit it big.