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Hearing that this is a seller’s market can make you feel like the pressure has eased when trying to sell your home. After all, with HousingWire reporting that Utahns are offering between $10,000 and $60,000 above asking price, you hardly have to lift a finger. Law?
Well, that depends. If your main goal is simply to sell your home, of course, you can do that quite easily in today’s market. But if you’re hoping to make the biggest profit possible, a few simple steps could net you tens of thousands of dollars more.
Work with a real estate expert
To avoid all those fees and commissions, many people think that selling a home on their own will help them pocket some extra cash. But considering that an experienced realtor could potentially negotiate tens of thousands of dollars more for you over the sale price, these fees may seem inconsequential.
According to the latest data, working with a real estate agent is more than worth it. The National Association of Realtors found that homes sold by owners cost nearly $218,000 while homes sold by an agent cost over $242,000.
Clean inside and out
It might not be fair, but human beings are wired to make judgments based on appearances. And given that it’s likely to be the biggest transaction of their lives, buying a home is no exception. As a seller, you want to do everything in your power to make your home attractive to potential buyers. So that pile of clutter on the kitchen counter and the cobwebs in the corner have to go. You want to remove any clutter that might prevent them from visualizing themselves living there.
And don’t forget the curb appeal! The exterior of your home should make a good impression. Grab your buyer’s attention with a fresh coat of paint on your front door, some vegetation or greenery on the porch, or an updated mailbox.
Strategically stage your home
Simply having a clean home is only half the equation when trying to attract potential buyers. Take it a step further by strategically installing beautiful furniture and lighting to make the setting as attractive as possible. This is called staging.
In an article for Investopedia, Marjorie A. Cohen writes that staging a home can increase a home’s sale price and the likelihood that it will sell faster. The National Association of Realtors reported that in a survey of 4,200 staged homes, 85% sold for 6% to 25% more than homes that were not staged.
Realize that staging comes at a price, especially if you end up renting furniture or decorations from a staging company. But the gain may be worth it! Your real estate agent can help you determine exactly how much staging you will need.
Take professional photos
Your iPhone can take decent photos, but if you really want to catch the big fish, you’ll need to invest in professional photography. (This is especially important since most people will see your home online first.)
In a 2013 study, Redfin found that professionally photographed homes priced around $400,000 sold three weeks faster and for $10,000 more than those with amateur photos. Some real estate agents include professional photography in their fees.
Hire a flat-rate real estate agent
Traditionally, as a seller, you are responsible not only for your own agent’s fees, but you will also pay the buyer’s agent fees. This represents approximately 6% of the selling price. This means that the higher the sale price, the higher your agent fees, despite the fact that it requires the same amount of work.
If that sounds unfair to you, Homie agrees. That’s why they offer a flat-rate registration service. When you sell with Homie, you pay a fixed fee of $3,500, regardless of the price of your home. To put that into perspective, you’ll save up to $22,600 on a home worth $435,000 (which is the median list price in Utah, according to the Utah Association of Realtors). Plus, you’ll get the same benefits of working with a traditional real estate agent, including an MLS listing, professional photos, open houses and more.
See how you can save thousands of dollars when you work with a Homie agent. Visit homie.com today!