50 Ways To Sell Your Home Faster and For More Money
In today’s competitive housing market, you need to be creative if you want to get a buyer’s attention. The following tips offer 50 different things you can do to sell your home quickly and for more money.
1. Time the Sale
Although it can vary by city and region, the peak home selling season usually begins in April. If you want your home in the running or if you would prefer to sell when there is less competing inventory on the market, you will need to time your sale carefully. To find the peak season for your area, you can search the Internet for statistics or contact a local real estate professional.
2. Prepare for the Sale
As soon as you begin thinking about selling your home, you should begin preparing for the sale. There are a lot of different things you will need to do. Being pressed for time could delay the sale of your home, or worse, lessen the profit you will make from it. At minimum, you should give yourself 90 days to make necessary preparations.
3. Meet with Several Realtors
The last thing you want to do when trying to sell your home is open up the yellow pages and pick a listing agent at random. You will be much better off meeting with several different real estate agents and listening to what they have to say. Even though you will only be choosing one professional to work with, you can glean a great deal of valuable information from these meetings.
4. Choose a Listing Agent with Experience
Choosing a listing agent who has experience with your market and your neighborhood is important. An experienced agent will be able to better answer any questions potential buyers have, and will know exactly what it takes to sell a house in your area. When interviewing agents, be sure that you ask how many homes they have listed in your market, as well as how many homes they have sold.
5. Understand Your Listing Contract Options
When you choose to use a real estate agent, you typically have several different listing contract options available to you. The most common include “Open Listings” and “Exclusive Rights to Sell”. Open listings are best for sellers who will be trying to bring in buyers on their own, because the agent will not receive the commission unless they are the ones who sell the house. Exclusive rights to sell contracts on the other hand give the real estate agent exclusive rights to the commission no matter how the house sells. The listing contract you choose should be based on how you want to sell the house and how much work you want the agent to do.
6. Negotiate Commissions
Real estate agents don’t work for free. If they sell your home, they will be expecting a commission. The amount of commission they get will be agreed upon when you sign a listing contract, and can often vary depending on the market and region. Although most sellers don’t realize it, the amount of commission the real estate gets is negotiable. This doesn’t necessarily give you a license to take advantage of the real estate agent, but it does give you an opportunity to increase the amount of money that you take away from the table once the house has sold.
7. Offer the Agent Extra Incentive
Although the agent should be dedicated to selling your home as quickly as possible and for as much money as possible automatically, it doesn’t hurt to offer them some additional incentive. You can offer an increased commission or a bonus if the home sells for a certain amount of money in a specific amount of time.
8. Get a Lockbox
When agents write up a listing contract, they ask sellers whether or not a lockbox will be available at the home. If you want to increase your chances of selling as fast as possible, you will want to say yes to this question. A lockbox gives agents access to your house key, as well as the ability to show your home anytime a buyer wants to see it. With a lockbox, you guarantee that you don’t miss out on any opportunities for potential buyers to see your home.
9. Hire a Real Estate Lawyer
If you have decided to forgo the help of a real estate agent and sell the home on your own, you may want to consider hiring the services of a real estate lawyer. These legal professionals can help you draw up paperwork, analyze offers, and act as an escrow agent. You will also have the confidence that comes with knowing someone is working for you with your best interests in mind.
10. Analyze the Market
There is a lot of unsold inventory that you will be required to compete with when selling your home, making it imperative that you know the local market. If possible, find out what types of homes buyers are looking for, the average age of buyers in your neighborhood, how long homes take to sell, and how much they eventually sell for. This will allow you to stage your home appropriately and develop selling expectations.
11. Price Your Home to Sell
While you may want to get as much money as possible out of your home sale, you will stand little chance of selling quickly or even selling at all if the home is overpriced. This is why it is essential that you know your market before setting a price. The more knowledge you can obtain from neighbors who have recently sold, listing agents, and other resources like the Internet, the better off you will be.
12. Get a Home Inspection
Although most buyers will want their own home inspection, you can save yourself from any unexpected and unpleasant surprises by getting your own home inspection prior to putting your house on the market. A qualified and competent home inspector can look everything over and let you know if there are any potential problems that you should worry about.
13. Get a Termite Inspection
In some states, lenders require a termite inspection before the home sale can conclude. If you live in a state where termite inspections are common, you can complete this step as soon as you put your home on the market to save time later on.
14. Think Like a Buyer
Before doing anything else, you will want to walk through and around your home. As you are doing this, think like a buyer and make a list of anything that might need to be changed. Because it can sometimes be hard to be objective when it comes to your own house, you may want to have a trusted (and blunt) friend, family member, or real estate agent accompany you on the walkthrough.
15. Make Necessary Repairs
You should always try to repair any minor or major flaws prior to selling your home. Minor things include loose doorknobs, squeaky hinges, and crooked light fixtures. Major things include foundation problems, a leaky roof, and damaged siding or windows. Buyers may not notice every repair you make, but they will notice every repair you didn’t make.
16. Replace Leaking Fixtures and Pipes
Buyers will be instantly turned off by faucets that leak and pipes that drip. By updating fixtures and pipes, and repairing any damage that may have been caused, you give the buyer one less thing to complain about and one more reason to buy the house.
17. Consider Remodeling
A newly remodeled kitchen or bath could add thousands to the value of your home. In many cases, homeowners who perform a smart remodel can make their money back times three. If you can afford to do it and have the time, you may want to consider remodeling to boost the amount of money you get from your home’s sale.
18. Clean Thoroughly
If you are trying to sell your home for top dollar, everything needs to shine. Before showing the house, take time to clean everything from the bathrooms and living spaces to windows and appliances. If you don’t have the time to do it yourself, hire someone to come in for an overhaul and then once a week to freshen things up.
19. Remove the Clutter
The number one rule of home selling is to remove any and all clutter. Stacked books, kid’s toys, and everything else that does not compliment the style of a room needs to be packed away, removed, or hidden from view. If necessary, rent a storage unit. The less clutter you have out, the easier it will be for the buyer to look at the actual item they are buying: the house.
20. Remove Personal Items
Buyers want to see a home they are viewing as their home. They may have a hard time doing this if you have too many personal items, such as pictures, trophies, collectibles, and signs around the house indicating that it is your home. It may be difficult to de-personalize your home, especially if you are still living there, but it is a necessary step to optimize selling potential.
21. Make Your Home Odor Free
When a buyer enters your home, every major sense will come into play. If you have pets, smoke, or cook odorous foods frequently, you will want to take steps to remove any and all odors before a buyer enters. This may mean cleaning or freshening carpets and drapery or deodorizing the kitchen with an exhaust fan and an open box of baking soda. If necessary, you can also use candles or wax burners to infuse good, homey smells into an area.
22. Make it Light and Bright
Lighting is one of the most important aspects of interior decorating. Unfortunately, it is often one of the most overlooked aspects of home selling. If you want buyers to notice the finer details in your home, you will need to make sure each room is light and bright. If you can’t get enough natural light from the windows, consider adding recessed lights, scones, antique table lamps, and other attractive sources of artificial light.
23. Clean the Carpet
If you have carpet with a stain or two, you need to rent a carpet cleaner or have the carpet cleaned by a professional. By cleaning the carpet, you can significantly improve the look of a room and let the buyer concentrate on something besides the fact that they will have to clean or replace the carpet themselves before moving in.
24. Arrange Furniture for Optimal Effect
Although you may like having your recliner situated right in front of the television, it may not provide the best look for the room. You should always arrange furniture for optimal effect. You want the rooms to look spacious and open. You also want to be able to create a smooth traffic flow within a room and from room to room.
25. Install Closet Organizers
Today’s buyers want walk-in closets and storage space. Pre-built closet organizers are an especially hot selling feature and a small investment that will make you money ten times over. The most popular places for organizers include bedroom closets, kitchen pantries, laundry rooms, and mudrooms.
26. Knock Down a Wall or Two
An open floor plan is a highly coveted feature among homebuyers. If your home does not currently have an open floor plan, you may want to consider knocking down a wall or two. Good choices include walls between kitchens and dining rooms, family rooms, or living rooms. By removing walls and creating open spaces, you could increase your selling price by as much as $10,000 to $20,000.
27. Add Style to Small Spaces
Small rooms aren’t normally attractive to homebuyers. If you aren’t able to change the floor plan, you can make buyers forget how small a space is by distracting them with style. By making rooms with limited space appear stylish, cozy, or even cute, you can eliminate terms like small and cramped from a buyer’s mind and increase your chance of a higher offer.
28. Spruce Up Extensions of the House
Porches, patios, decks, balconies, tool sheds, and garages are all extensions of the house. These areas should also be as clean and uncluttered as possible. Sprucing up could involve hiding unattractive and smelly trashcans, organizing items like lawnmowers and yard tools to give the impression of spaciousness, and emphasizing areas with lawn furniture, lighting, and tasteful accents.
29. Add Landscaping
To make a dynamite impression, your yard should be as nice as or nicer than your neighbors’. If necessary, add inexpensive bushes or flowers to your landscaping design. If your grass looks unhealthy, lay sod or reseed quickly. The nicer your yard looks, the more impressed buyers will be.
30. Light a Fire in the Fireplace
Fireplaces are nice selling features and should be showcased every time a potential buyer will be looking at the home. Before the buyer enters, arrange items on the mantel and around the fireplace itself. Then light a nice, cheery fire that will burn for several hours. Although this might seem like a small and insignificant touch, it will provide the type of ambience that makes a buyer fall in love with a house.
31. Keep the Temperature Comfortable
Whether it is the cold of winter or the heat of summer creeping in, you will want to combat the elements and keep the temperature comfortable when potential buyers come calling. If it is too hot or too cold, the buyer may think that there is something wrong with the home’s heating or cooling system. An uncomfortable temperature can also make them worry that the house itself is too drafty or not well-ventilated.
32. Give Your House Curb Appeal
The term “curb appeal” refers to the first impression buyers get when seeing your home for the first time. A well mowed lawn, a clean and tidy area by the front door, a nice walkway, and good lighting are all ways to give your home the curb appeal it needs to make a good impression.
33. Look for Hidden Selling Points
Your home may have special selling points that you have never considered. To give your real estate agent extra ammunition for potential buyers, try to look for hidden selling points that only you know about. For example, if your home is energy efficient and requires only a minimal amount of money each month to pay for utilities, it would be a great selling point that the agent may not think to mention.
34. Consider Hiring a Professional Stager
When it comes to making a sale, buyer impression is everything. If you don’t have the time or the skills needed to properly stage your home for a showing, you may want to consider hiring a professional stager to do it for you. These real estate experts know what buyers want to see, and more importantly, what buyers don’t want to see.
35. Hire an Organizer
If you don’t want to hire a professional stager, but need a little help in the organization department, you can hire a professional organizer to prepare your home. An organizer will be able to put things away properly and showcase your storage space. They will also be able to do something about the clutter that tends to turn homebuyers away in droves.
36. Hire a Photographer
Many buyers begin their search online or by looking at pictures that real estate agents have sent to them via email. If you want your home to be one of the first that a buyer sees, you may want to consider hiring a professional photographer to take shots of the outside of the house and the best rooms inside the house.
37. Have Several Open Houses
Open houses are a traditional and effective way to sell a home. By staging an open house or two, you can get a whole group of buyers and buyer’s agents in on one day. Having several different people looking at the house at one time could bring in multiple offers and a higher selling price.
38. Leave the House During a Showing
Unless it is unavoidable, you should not be present during a showing. Potential buyers may feel like they are intruding if you are home, and as a result, may not get a proper look at the place. If you are present during a showing, do your best to stay quiet and out of the way.
39. Be Prepared for Unexpected Requests
More and more frequently, buyers are requesting that specific items or perks be included in a sale. Often times, willingness to satisfy these requests can make or break a sale. It may be a good idea to decide in advance what you will and won’t be willing to sell or offer with the house.
40. Sell the Home with a Warranty
Home warranties can be purchased by sellers for minimal fees. Selling your home with a one year warranty can make your home very attractive to buyers, especially if you have older appliances or an outdated heating system. And because this warranty can be purchased at closing, you aren’t out any money if the home doesn’t sell immediately.
41. Be Willing to Negotiate with Buyers
The offers you receive from buyers may be well below the asking price of the home. Instead of responding to an insulting offer with a flat out refusal, negotiate. You don’t have to drop the price significantly, but you can come down by $1,000 and give the buyer another opportunity to evaluate the offer.
42. Pay Discount Points for the Buyer
If you don’t want to come down on the price, there are other things you can do to sweeten the deal for the buyer. One thing in particular involves paying discount points on the buyer’s home loan. A few thousand dollars out of your pocket can lower the buyer’s interest rate and make them eligible for a nice tax deduction. In this scenario, everyone wins because you get your asking price and the buyer gets lower mortgage payments through the life of their loan.
43. Pay the Buyer’s Closing Costs
Homebuyers, especially those making a large down payment, often have a difficult time paying closing costs on their home loan. If you want to give the buyer an extra incentive to purchase your home, you could offer to pay the buyer’s closing costs. On average, it costs between $2,000 and $4,000 to close on a home loan. While this may mean an additional out of pocket expense from you, it could be all the incentive a buyer needs to choose your home over another.
44. Offer the Buyer Extra Incentives
Homebuilders who want to unload inventory quickly offer special incentives to attract and sway buyers. These incentives include everything from offers to pay condo fees to cash rebates paid out after purchase. You can use similar marketing gimmicks to get buyers excited about your home.
45. Compare Offers Carefully
If you get more than one offer on your home, you will want to compare these offers carefully before making a decision. Keep in mind that purchase price isn’t everything. Other items to consider include the buyers’ financial qualifications, contingencies within the purchase agreement, and clauses that favor the buyer.
46. Be Honest in Your Disclosure
When selling a property, you are required to disclose any potential flaws associated with the property. If you are not honest in your disclosure or if you try to hide things from the buyer, you could end up losing the sale, or worse, losing money in court after a sale goes through. If you are unsure about what needs to be disclosed, speak with a real estate lawyer who is familiar with the disclosure laws in your state.
47. Stage Your Home for the Appraisal
Buyers will be required to get an appraisal before they can be issued a home loan. You should stage your home for this appraisal just like you would for a showing. The more money the house is appraised for, the more likely the borrower will be to get approved for the loan and go through with the purchase.
48. Get More Exposure
If you have done everything you could to sell your home and you still haven’t achieved a sale, you might not be getting the kind of exposure you need. If people don’t know that your house is for sale, you have little chance of selling it in a timely fashion. If you have a real estate agent, make sure they are actively trying to sell the home. If you are working without an agent, advertise everywhere you can and then have an open house to attract potential buyers.
49. Use Feedback to Make Improvements
If you are getting potential buyers but no offers, you will need to find out what the problem is. It might be the price, it might be the layout of the home, and it might be the size of the yard. Whatever the common complaint is, you can use it to your advantage and make the desired improvements. The feedback you receive may turn out to be just what you need to sell on your terms.
50. Add a Fresh Coat of Paint
A fresh coat of paint can work wonders on everything from walls and ceilings to fences and shutters. Because painting is so inexpensive, it is one of the best ways to improve offers without spending a lot of money upfront. Just remember to keep things light and neutral. Some buyers shy away from bright, bold, or dark colors.
