If you are planning on selling a home, you want to get the best deal possible. This guide will go over ten tips to help you sell your home above the market value price. It’s possible to get it done – but not without taking the necessary steps (which we’ll list below).
You may be selling at a higher price so you have a bit of extra money left over. You might also be selling the home and downsizing to something smaller. Whatever the situation, a realtor in Austin, TX can help.
For more information on how you can sell your home above market value, go to Teifke Real Estate. Let’s begin with our list of tips below.
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Inspect the home for any repair needs
First and foremost, you need to know the actual condition of the home. If it’s in less than ideal conditions, you’ll want to make sure that the repairs are made as soon as possible. There are plenty of buyers that won’t purchase a home in its condition.
Not only that, it’ll be difficult to sell it at above market value anyways. Make sure the home is inspected from top to bottom. Get a thorough report and know exactly what needs to be worked on.
Get the repairs done as soon as possible
If you have the money to get the repairs done, that’s a good sign. You’ll want to get started on it as soon as possible. When the home is in good or even excellent condition, you can sell the home at a price above the market value.
This will make it easier on the buyer, who won’t have to be faced with the burden of getting the home repaired. Not only that, they won’t be saddled with the expenses that go along with it. If you want an even sweeter deal than usual, do yourself a favor and get the repairs done.
Know the local housing market
One housing market may be different compared to the next town over. It’s important that you get a good idea of how stable it is. You’ll need to know whether it’s a buyer or seller’s market.
A seller’s market can work in your favor. This will allow you to sell the home at a higher value compared to the market. A buyer’s market won’t be as favorable.
It’s also important to know what the average home value is not only in your local area but also in that specific neighborhood. Some neighborhoods will have higher home values than others.
Do your own due diligence, if possible. You can also speak to a real estate agent in your area that will have all the data and tools you can’t find online. Either way, you’ll be able to find out the information you need to decide on a price.
Be ready to negotiate
No matter if the market conditions are great or not, it’s important to negotiate. You may not close it at the intended price. You can still sell it at market value, despite not getting the specific amount you’ve asked for.
It’s also a wise idea to hire a realtor that will help you through the process. A successful, experienced realtor will work their way around it. You can close the deal faster and be able to get a price that’s good for both parties, more here.
Know the right time
Timing is everything. Especially when it comes to selling a home. One of the best times to sell your home above the market value is when it’s an overall seller’s market.
Another good time is during the spring and summer months. This is when you’ll notice more houses listed compared to other times of the year. Around this time, people may be willing to purchase homes at prices above the market value.
Make it presentable
When the home is listed, you can also show it online. You can use professional photos and videos to make it look sharp and snazzy. It will look great and you can also cater to interested buyers who may be looking for a home online.
Almost 97 percent of buyers will begin the process by searching online. So make sure that your photos and videos are high quality and done by professionals. The best qualities of the home will be a huge focus.
Hold open houses
An open house will give potential buyers the to take a look at the home with their own two eyes. At this point, you’ll want to have everything in working order. This includes repairs that are already done as suggested by the inspection report.
You’ll get a good idea of what people will think of the home. You might not get interested buyers right off the bat. But it gives them a chance to determine whether their home is on their shortlist or if they are moving on to other options.
Work with an experienced agent
An experienced real estate agent knows the process backward and forwards. This is another thing you’ll want to do research on. How long have they been a real estate agent will be a good starting question.
They also saw a lot with the buying and selling process. They’ve seen successful deals and those ‘almost’ deals that fell through for whatever reason. It’s important to find a real estate agent that will go to bat for you to get the best deal.
Get to know potential buyers
If you have potential buyers that are warming up and interested in buying the home, get to know them a bit. No need to get too personal. Ask about what they do for work, what their family is like, and so on.
You may also be able to determine which potential buyer may be willing to buy at the best above-market price. If someone has enough breathing room financially, that may be a good sign.
Start at the best price, not the highest
You may have a ceiling price in mind. But you’ll want to start from another place. For example, if you want to sell a home at $500,000 don’t start there at first.
Go at least 5 to 10 percent lower than that. It still might be above market value and good enough for the buyer to say yes. Give yourself plenty of breathing space.
Don’t be desperate and go lower. You can stand your ground and keep it within a certain price range. Don’t settle for lowball offers either.