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Cody Anderson's Blog

By Cody Anderson | Agent in Minneapolis, MN

10 tips to sell your home for top dollar

If this is the worst depression since the 1930's then how are some sellers beating the odds and selling for top dollar. They are using time tested and market approved techniques and strategies that give them an edge over their competition. Here are 10 tips to help you achieve the same success:

  1. Price aggressively: Setting the right price for your home is the single most important decision you will make when you sell. If you go too high you risk turning away buyers, go too low and you leave money on the table. One simple yet powerful technique for pricing is to look at your competition. Spend the day looking at homes for sale by doing so you will be seeing the world through the buyers' eyes. Be honest with yourself. Compared to your competition what price gives the best value for buyers in your marketplace?
  2. Use price points: Buyers ask to see homes between price ranges that are separated by five to ten thousand dollar increments. Consider setting your price near one of these price points. For instance a price $149,900 would probably net you exactly the same number of buyer inquiries as a price of $147,900, but moving your home down to $144,900 (the next price point down) would widen the potential buyer pool. 
  3. Use value range marketing: Another technique that may increase showings and offers is to use value range marketing. Value range marketing is a pricing technique in which you choose a listing price based on what you would sell for today if a buyer wrote you a check. You then choose another lower price - one that you wouldn't reject if offered but would use as a starting point negotiate towards some middle ground. For example, instead of listing at a specific price of $299,000, you list between $259,000 and $299,000.
  4. Offer a bonus to the selling agent: In a market with surplus inventory often sellers will provide a selling bonus to motivate agents to show their home more often. While you may dislike paying real estate brokers even more money, the fact is it may provide just the right incentive for them to work a little harder to sell your home for top dollar.
  5. Find an aggressive listing agent: Take the time to do some research, talk to friends, neighbors, and colleagues about who they recommend, and interview multiple agents before making a hiring decision.  Be sure they are open to suggestions. For example, you may have ways to improve advertising copy, flyers, photographs, or even virtual tours. 
  6. Invite constructive criticism: To be a successful sellers you can't be afraid of a little constructive criticism. Your agent should encourage other agents to give them suggestions from pricing to curb appeal, this helps secure the highest possible price for your home.
  7. Offer incentives: After a buyer has narrowed their search down to two or three choices they may need a little motivation to take action. To help encourage buyers, many sellers will offer incentives like buying the interest rate down on the purchaser's loan, paying for closing costs, inspections, or repairs.
  8. Staging and curb appeal: Buyers needs to become emotionally invested in your home before they will pull the trigger. To create a lasting first impression start from the outside and improve your home's curb appeal. Next move inside and stage each room by creating a warm and inviting space. 
  9. Get a pre-inspection: Many sellers do pre-inspections to provide buyers with a clear picture of the whole home inspection or pest and dry rot inspection.
  10. Be willing to make adjustments: Successful sellers have the ability of making adjustment to their strategy quickly. For instance, if buyers don't begin to view your home on a regular basis, this is a clear indication that the market is rejecting your price. The only solution: lower your price. On the other hand, if you have steady stream of buyers, yet you haven't received any offers, something about the home is turning them off.


Cody Anderson, MN Licensed Realtor

RE/MAX RESULTS

Metropolitan Home Team

Phone: 612-242-5752

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