When selling your house, your number one goal is usually to maximize your results and earn the highest amount possible. A few people may have other priorities, such as a fast sale or a flexible closing date. But given the choice, it’s understandable to always want to obtain the most value out of your house. It’s one of your most significant assets, and the results you get determine what and where you can buy next.
With the rising prices and unprecedented demand in the current market, maximizing your sale is more critical than ever. Conditions are shifting, and nothing is certain anymore. A successful transaction gives you a sense of security about whatever happens next in your journey. This detailed back-to-basics guide will help you get the best results during any market conditions.
Avoid Complacency
Complacency is the enemy of results. This is true in most aspects of life, especially in real estate. But since the last few years have primarily favoured sellers, many homeowners have become more passive about getting their homes ready for the market. They assume their house will sell quickly and that multiple buyers will deliver well over the asking price through competition and bidding wars. While this may happen, it is not guaranteed and overconfidence can lead to disappointment.
The real estate market is more unpredictable than ever. Even though competition is high, not every listing sells. It has never been more important to have a comprehensive strategy to bring your listing to the attention of as many potential buyers as possible.
A successful sale in the current market relies on research, preparation and an extensive marketing plan. Find out more in the posts below:
- What’s Your House Really Worth?
- Minor Upgrades, Maximum Results
- Our Full-Service Real Estate Team’s Guide to Marketing Your Home
Start With Realistic Expectations
Do you know how much your house is currently worth if you were to sell it today? Perhaps you had a home evaluation back in 2021 when houses were selling as fast as they could hit the market and nearly every listing went into a fierce bidding war.
But conditions change quickly, and the value of your house has almost certainly changed. Since a realistic price point is the foundation of a successful sale, getting an up-to-date evaluation is an essential first step.
Prepare Your House to Dazzle
Unless you’re okay with earning less from your transaction, selling as-is is almost always a mistake even when supply is low. Buyers may not have unlimited houses to choose from, but they do have some choices. And, of course, they can always decide to put their plans on hold and not purchase at all as many did once interest rates began to rise.
What does this mean for you when putting your house on the market? Even when conditions are in your favour, you must still pull out all of the stops to get the best results. Once again, there’s no time for complacency!
- Begin with thoroughly cleaning and decluttering every inch of your home. It costs nothing but time and effort, and this alone can have a significant impact.
- Look for minor improvements that can yield big results. Fresh paint, updated lighting fixtures and redoing the silicone on your sinks and bathtubs cost very little but can add substantially to your final sale price.
- Think about staging your home. This means designing it in a way that transforms your space into a blank canvas and allows buyers to imagine themselves living there. All signs and studies point to staging helping you sell your house faster and for more money.
Did you know that all of our clients receive complete, complimentary staging services when listing with us? Read more in The Power of Staging When Selling Your Home.
Expert Help Is Critical
Regardless of the market, it can be tempting to forgo the services of an experienced real estate team. When sales activity is slow, you may believe it’s better to go it alone and save on commissions. When demand picks up, you might not think an outside expert is necessary because you’re confident your house will sell regardless.
However, a skilled real estate agent takes the vast majority of stress and effort off your shoulders, and more often than not, you will end up with more money once your sale finalizes. How much more? It depends on the market and depends on the house. Still, experienced real estate agents have been known to command as much as 20% more, all from knowing how to price, prepare and market your listing effectively. Earning more money with less effort on your part is well worth the small percentage you end up paying in commissions!
Looking for even more resources to help you with your unique situation? Here are some articles you may find helpful:
- Should You Sell Your House or Rent It?
- Should You Use the Same Agent to Sell and Buy a House?
- Selling a Home for Someone Else? Here’s What You Need to Know
Professional Photography Sells Homes Faster
Most potential buyers, especially younger ones, begin their search for a new home online. Often, they’ll only arrange to see a house in person once they have fallen in love with it via photos and videos online and on social media. That’s why professional, high-quality photography and videography are so critical to a successful sale. While you may be able to take pictures with your smartphone, it can be difficult to capture the lighting and quality that effectively showcase the best features of your home.
Marketing for Maximum Exposure
Now that all the background work is complete and your house is ready and looking its best, one significant piece of the puzzle remains. It’s time to bring your listing to those who are searching for a home just like yours. And when it comes to potential buyers, the more the merrier! If your home generates interest from multiple buyers, you stand an excellent chance of receiving an offer that’s over your initial asking price.
That’s why you need a Realtor® who will leave no stone unturned in promoting and advertising your listing everywhere, using the most advanced online and offline marketing tools. Email blasts, print ads and online advertising are just the beginning. Your listing will appear on the MLS®, on local real estate boards and on the brokerage’s website. A professional real estate agent will do all this and more to generate the maximum amount of interest in your home.
However, keep in mind that the best exposure doesn’t always come from advertising. It often comes from working with a real estate professional with an extensive network of other agents who all have buyers actively searching for homes. When all these pieces come together, you may soon have a steady stream of potential buyers beating a path to your door!
At Woolcott Real Estate, we carefully formulate and implement a unique plan for every homeowner to get the best results possible in any market. Do you want to know more? Reach out today with any questions you have, or call 905-332-9223 to connect with our office.
