Proven Ways to Increase Your Home’s Value Before Selling

Nexus Virtual Executives

Setting yourself up for a successful sale still requires time and effort, even in a seller's market with low inventory and frequent bidding wars. This can entail a several of actions, including hiring a real estate agent who is knowledgeable about your neighborhood market and investing in home staging to maximize the appearance of your house for potential purchasers. According to Realtors, these ten selling pointers for your house will help you stand out from the competitors and fetch a higher price. Find a real estate agent

Working with an experienced local real estate agent who is well-versed in your community can help you sell your house more frequently and for a higher price. In reality, according to data from the National Association of Realtors, homes advertised without a realtor's help sold for a median price of $310,000 between July 2022 and June 2023, whereas those sold with one brought a median price of $405,000. Before choosing an agent, have interviews with a few applicants; the more compatible you are, the easier the procedure will be.

Invest in value-adding improvements

Selecting which home upgrades to make can be difficult, and the expenses can mount up quickly. Investing your money in projects that will yield the highest return on investment is crucial.

Up your curb appeal

Some other easy updates that can improve curb appeal include:

Touching up exterior paint
Adding window flower boxes
Installing a new mailbox
Adding new mulch around shrubs and trees

Get a pre-listing inspection

Another thing to think about is investing in a home inspection before to listing your property for sale. Lee-Duffy states, "You want to avoid any unexpected surprises." "It's best to find out beforehand if there are any issues that you can fix, before buyers find out on their own." In the worst case, this would provide them a justification to back out of the deal or negotiate a cheaper price. For the peace of mind, it might thus be worth a few hundred dollars.

A pre-listing inspection does have a drawback, though, according to Severance: "Beware, because once a seller becomes aware of an existing defect and does not correct it prior to listing, they are obligated to disclose it to a buyer." "Defects that a buyer finds out were known but not disclosed, before accepting an offer, can kill the deal.”

Highlight the positive with professional photos

Investing a small amount of money on superior photography can significantly increase the price at which your house sells. According to Lee-Duffy, "most people look for properties online." "If the pictures turn out well, they may fetch a higher price and sell more quickly."

On the other hand, when it comes to the internet listing for your house, it's acceptable to keep some details vague. Severance advises against taking pictures of every inch of the house. "The purpose of images is to whet a buyer's whistle enough to attract them to see it in person, not to give away all the goods online. They most likely won't make an offer if they don't come look at the house.

Set the right asking price

Finding the best deal on your house could be essential to your success. According to Lee-Duffy, "price setting too high can be detrimental and prevent buyers from walking through your front door."

How do you determine the ideal price to make a profit without going overboard? Here is when your agent's experience can really come in handy. An experienced realtor will know what your home is worth, what the fair market value in your neighborhood is, and what you could realistically expect to earn in the current market.

According to Severance, "the ability to thread the needle" is necessary for good pricing. If enough bidders are drawn in, you might even start a bidding war. "List at a number that is lower than comparable properties, in order to draw attention to it, but not so low that you will be disappointed if you only get one offer right at list price."

Use your head, not your heart

Lastly, try to put emotion aside and approach the process as a straightforward business transaction; your house is now a product for sale rather than a place you call "home." Prospective buyers frequently ask for credits or repairs, and since it's easy for sellers to become offended, try to be honest about the problems and things you might be ready to compromise on.

"It's critical to remove emotion from the situation and keep in mind that the buyer typically doesn't expect to receive everything they request," advises Severance. Examine more closely which requests are reasonable and valid, then make an offer. Giving the concession won't cost you anything; instead, it will cost you money if you lose the buyer, relist the property, start the process over, and receive a potentially lesser offer.