As you prepare to sell your own home, there’s a lot you can learn from industry experts. For example, do you know how top producing agents decide on a list price that is both competitive and profitable? Or, do you know how to negotiate the best deal at the offer table? You will soon if you keep reading!
Agents make sure your home is in selling shape:
Realtors have looked at hundreds, even thousands of homes for sale and prospective buyers’ reactions to said homes. They know what appeals to buyers and what doesn’t, and they bring their unbiased, professional recommendations about how to make a home more enticing.
Agent level home prep require you to think like a buyer.
You have to put your personal tastes aside and research what appeals to homebuyers in your area. Doing so will increase buyer interest, which in turn increases your odds of getting a higher final sale price. Do some web research to find out what kinds of home features and upgrades are trending in your area. Then, ask friends and neighbors for their opinions on your home (and make a diligent effort not to take their feedback personally).
Once you have a good idea of what resonates with potential buyers and what turns them off, be open to making cosmetic changes that enhance your home. That can mean repainting your stylish bright green room with a more neutral tone, hiding your taxidermy collection (pretty much always a good idea!) or buying a stainless steel stove in order to maximize your profit.
Agents think in terms of costs:
While homeowners can be sentimental and biased, realtors just see cold, hard property when they look at a home. They do research on the real estate market to determine the best home price. Their ultimate goal is to attract as many buyers as possible and make you money. But how do they figure out the right price?
Time to bust out the calculator.
check your emotions at the door. Pricing mistakes brought on by emotional attachment to your home can slow down the sale process and negatively impact your final sale price.
Agents get the word out:
Realtors know that the more eligible buyers that see a home, the more likely they are to fetch a great price for it. But getting the attention of prospective buyers isn’t as simple as listing your home and hoping they show up in droves.
You can (and should) use all the same tools agents do – plus a few more.
To maximize buyer traffic, use all the tools at your disposal when you first put your home on the market. That means, at a bare minimum, you should:
— List your home on the Multiple Listing Service or MLS,
— Make sure your listing is syndicated on other popular sites like Zillow, Trulia and Redfin
— Get your listing added to local area realtor sites (many pick up new listings added to the MLS)
Agents negotiate, and then negotiate some more:
One of the greatest secret weapons a realtor has is experience and prowess at the negotiating table. They know what’s a reasonable ask and they won’t let other agents or buyers push them into a lopsided deal.
Channel your inner-agent, put on your negotiator pants and get ready to make a deal.
Remember all that math homework you did? This is where those numbers can really come in handy. Look at your figures and imagine an ideal (but realistic) sale price for your home. Then, decide on the minimum price you’d be willing to sell your home for before start entertaining offers.
If you crunch the numbers and form a plan before you have to negotiate, you’ll be prepared to be firm, professional and pragmatic. You can also use these proven negotiation techniques and can enlist HomeBay’s help for expert assistance at the offer table (for a fraction of the cost of an agent).
Now that you know how to channel your inner real estate agent, it’s time to get to work on your home sale!