(Newswire.net — October 9, 2018) — Housing prices have rebounded from the depths of the financial crisis and with the exception of a few pockets, most homeowners are now benefiting from the increased property values. This is a big plus for millions of Americans as their homes tend to be the most valuable asset they own.
However, selling your home is not always easy, especially if you want to get the most money possible. If you are a female entrepreneur, and even if you aren’t, then you want to read this article as it will give you a deeper look at four tips for house sellers to get the highest price.
Know Your Customer
In the end, everything comes back to the customer and you need to know who they are and what they are willing to pay for. Sure, there are situations where you can create a market but the reality is that almost no one has ever sold a multi-million-dollar mansion in a trailer park.
Instead, you need to look at your local market and see what are houses in your area going for and importantly, what amenities made these homes stand out. By knowing this you can ascertain how your home will stand up to the broader market. In addition, this will give you some insight on the ‘sweet spot’ in terms of pricing your home.
If you are not sure where to begin, then you should reach out to a real estate agent as they will have the tools needed to look at your house and give you an idea of what it is worth. Another option would be to reach out to the folks at https://www.klamengroup.com/sell-now/ if you are looking to see how much buyers in St. Louis, or elsewhere, would be willing to pay.
Beyond this, you might want to your friends and neighbors, especially if they recently bought or sold their home, as this will give you additional insight into market prices and the key features that helped to seal the deal.
Patience Is a Virtue
Getting the highest price for your home is more of an art than a science – even in an upmarket. As such, you need to understand that patience is a virtue. Sometimes getting the best price is more a matter of timing and for this reason, you need to be constantly tracking the market to know when is the right time to list.
This involves a combination of studying the market and remaining in touch with a real estate agent in your area. In this way, you can put out feelers and get feedback on what your home would go to. In fact, you could even send up trial balloons before listing your home – this way you can know if you can get the right price.
Beyond everything, you need to be disciplined and be patient. Sometimes, you can get the highest price on day one; however, there are cases when you might need to say no. The trick is knowing how to be strategic in negotiations without ultimately damaging your ability to get the most for your home.
One trick to make this happen is create a market with competing bidders and then to set a deadline. In this way, you can create a sense of urgency which will work to your advantage when trying to finalize the sales price – in some cases even getting you a price that is above listing price.
Find the Right Agent and Stick with Them
One of the worst things you can do is to treat your search for a real estate agent like you are on tinder, constantly swiping left until you find someone who you will meet for a casual get together.
Instead, you need to treat the search for the right agent as a serious process. Sure, referrals can play a big role in figuring out who to talk to but in the end, it comes down to work ethic and fit. In terms of work ethic, you want a real estate agent who will leave no stone left unturned in their efforts to sell your home. This means asking about their track record and even reaching out to former clients to find out what they have to say.
Besides looking at work ethic, you also want to take a perfect fit into consideration. This is an intangible which looks at how well you and your agent can work together. After all, selling your home is an intimate affair and you want to make sure the relationship works for you.
Don’t Forget to Factor in Commission
Look, this is how real estate agents make their money and the best ones will earn their fees. However, this doesn’t mean that you should overlook a discussion about commissions. Traditionally, listing agents will get between five to six percent of the proceeds and this is usually split with the buyer’s agent.
However, this can add up to quite a bit, so one option to get more from a sale is to work with an agent who will charge a lower fee. While these agents might be juggling dozens of listings and might not get you the highest price, what you save on commissions could end up resulting in more money in your pocket and that is the name of the game.