How to Get the Highest Price for Your Home
We have definitely turned the corner this year andÂ we have transitioned from a buyer's market to aÂ seller's market. Prices in the Boston area have soared double digits in a year. Inventory remains low, rates are favorable and buyers are waiting to purchase the perfect home. When you decide to sell your home a skilled agent can help you position yourÂ house so it outshines the competition and makes it attractive to buyers. Here are a few ideas for obtaining the highest price in theÂ shortest period of time:
1.) Select an agent who knows how to build buyer frenzy over your property from the first open house. Great selling agents do more than place a sign on the property and stick a lock box on the front door. Ask about our "mega" open houses and other creative marketing ideas to have buyers running to your house to pay you top dollar beginning the first day your house enters the market. Our list to sale price ratioÂ for our listings this year wasÂ 99 percent. Having an agent who knows pricing will help set your expectations.
2.) Spend time getting to know your market. Ask your agent to show you properties in the same price range that sold quickly. Conversely, find out which homes are languishing on the market and explore why. It is a good idea to at least drive byÂ the competition, but if you can take a peak inside, all the better.
3.) Think objectively about potential problems in your home. On a busy street? Consider investing in a fence or shrubs for privacy.Â Small bathroom?Â Use bright colors and beadboard molding to make small spaces become cottagey and chic. Ask your realtor to objectively tell you not only the great aspects of your house, but also buyer objections so you can combat them from the start.
4.) Declutter your house. Rent a Pod or ask your agent for solutions to your clutter problems. For example, we have access to a moving company that will store your items for free if you hire them to pack and remove clutter. Homes that are free of clutter sell higher and closer to the asking price.
5.) Investigate any potential items that may come upÂ during a home inspection. Don't have the cash on hand to fix them? Get several quotes so you are informed about the cost involved. A buyer may tell you that a new roof will cost $20,000 but if you know it will cost $6,000 you are prepared and will save money if the item comes up during negotiations.
6.) Showcase the highlights of your house by writing a letter toÂ potential buyers for your agent to use as a marketing piece. Maybe you love walking to town from your house, watching a sunset from your deck or enjoying the park nearby. Remember that buying a house is as emotional as selling one can be. Use emotion to "grab" your buyer's attention.
7.) Be educated in advance about issues that may come up along the way. Consider an annual pest treatment to avoid problems with critters during the warm weather months. Know about radon and be prepared in case you have to mitigate it.
8.) Provide your agent with a thorough list of improvements you have made to your home. This list should be available to buyers inÂ the beauty sheet they receive.
9.)Â Ask your agent for references for professional resources you might need such as cleaners, stagers, etc.
10.) Find out the full marketing plan that will be implemented so you will know dates and times of events such as open houses and broker open houses.
For more information or if you have questions, feel free to call us any time!