There are a plethora of things to ponder when preparing to sell your home. But, when it comes to your pricing strategy, there are only a few crucial points. Let’s start with the most important question:
What would a perfect sale look like for you?
You might be seeking the highest price, finding a buyer that will care for your home the same way you have, or looking for an offer with ideal terms for your escrow period making things smooth and effortless.
What if all of those things were possible? We’re here to break down this process so that you can get top dollar no matter where you live, what type of home you have, or where the market stands.
Step #1: Review The Comps.
Have your agent run a CMA (Comparable Market Analysis) based on your community, the size of your home, and the upgrades/amenities. Once you’ve gathered a grouping of properties to use as your comps, be honest with yourself about where your home ranks among the group. A few additional things to consider at this stage that can help drive up your price:
- Is your community sought after?
- How many other homes are currently on the market in your neighborhood?
- Are you within a great school district?
Once you and your agent land on the market value for your home, things get exciting!
Step #2: Cover all of your bases:
Price To Sell – Price your home slightly under (5-10%) where you feel the value of your home is. Buyers and buyers agents will be drooling at the idea of getting their clients into your home at that particular price point. Capturing the most interest will net you the most offers and lead to the highest final sale price.
Don’t Skimp On Presentation – Property photos that showcase your home in its best light are important. The property listing is your one opportunity to entice buyers to come tour your home, so blow them away! Pro Tip: Add colorful flowers/landscaping to the front of your home. We want buyers to see your property pop from the street.
Get Eyeballs On Your Listing – List your home as a “Coming Soon” for about a week or so before going “Active” on the MLS. Give agents and buyers a significant amount of time to study your home and see themselves living in it.
FOMO (Fear Of Missing Out) – Schedule every showing back to back over a two day period. Buyers will see their competition and put their best foot forward when making an offer.
Consider a Pre-Sale Inspection – You’ll have to come out of pocket, but it will save you time, money, and potential headaches in the future. Giving potential buyers the inspection report gives them confidence to offer favorable terms.
Selling your home, when done strategically, can be fun! You start to see how little enhancements can make a huge difference to your profit margin. You can always reach out to me if you have any questions or requests for future topics.