Last Updated on 23/02/2019 by NM Staff
Improving your chances with home buyers as a seller is an important part of succeeding in making a profit on the sale of your home. Time is money when it comes to real estate and hitting the market in the best possible light ultimately saves you thousands of dollars when you all finally sign on the final dotted line. Here are 5 ways to improve your chances with home buyers so you can make sure your finances are sound throughout the entire process of selling your home and you, as the seller, end up in the green.
Forget about the past
Pricing your home is one of the most important parts of making a profit on the sale of your home. Do you remember how much you paid for your home when you bought it? Great. Forget about it entirely, because it doesn’t apply anymore.
This is because ultimately, the price of your home when you purchased it and the money you invested in it over the years has almost nothing to do with what the actual appropriate asking price of your home will be when you finally put it on the market for sale, and remembering this fact is what can make or break the profitability of the sale of your home.
If you are stuck on how much you initially paid for it and how much you spent on it over the years and attempt to make the asking price match up or exceed that amount, it is unlikely that you will be able to sell your home within 30 days which is sort of a requirement if you are looking to get it on and off the market and not just sit there unsold.
Price your home appropriately
So you’ve totally forgotten about whatever amount of money went into your home up to this point and you’re ready to price your home appropriately for the market right now.
This is where comparative market analysis comes in and takes center stage when it comes to deciding on your asking price. Your asking price should directly reflect what is going on in the market in your location at the exact time of listing your home as much as you and your agent (if you have one) can possibly get it to.
As in “real time” as possible is key here for attracting buyers. Buyers are keenly aware of what they are looking to expect for asking prices in the area. If your home is priced too high, even if you lower it later to try to attract a buyer and their agent, they are unlikely to give your home a second look.
Pricing your home appropriately from the get-go garners the interest you need to move forward with a profitable sale. Keep context and the current state of the market in mind at every step, especially this one.
Include quality photos
Photos ultimately are a large part of the first impression you give a potential buyer, and on top of that, whatever the quality of the photos are or the effect they have has a lot to do with the perceived value of your home.
This affects your bottom line directly because as mentioned above, your home is going to reflect the market value of your location at the time of listing, which means it will be priced very similarly to other homes in the area.
The smaller details that “up” the value of your home start to mean a lot more to a buyer in the context of the real estate market, and once your home is listed, bypassing the opportunities to up the value with easy things like making sure your photos are quality is passing up an opportunity to drastically improve your chance with a buyer.
In short – just make sure your photos are quality! A lot of owners and their listings don’t do this but that doesn’t mean you should put up haphazard photos, too. If anything, it means you can easily take advantage of standing out in a positive way.
Get ready for an in-person showing
While pictures are very important to garner interest at first, the next step is more important: when a buyer sees your home with their own eyes. In fact, studies have shown that eyes are better at mental snapshots than cameras. Therefore, encourage any buyer who does view your home in-person to stay as present as possible in the house and feel, touch, see, and experience it without taking a million photos. This makes it more likely for them to have a positive experience, and an experience closer to what actually living in your home will be like, which is way more valuable when it comes to actually selling your home to a buyer than having your home be just another picture of another house sitting in their camera roll.
You can entice this to happen naturally by staging it well, making the experience as enjoyable as possible (and, as an aside, a lot of times that means you, the seller, not being present), and really focusing on the experience the buyer will have when they view your home versus all of the physical things inside of it. Leaving notes that give little bits of relevant, present-time information is a nice touch, as well as having refreshments (that they can carry around the house well) available in the kitchen.
Pay attention to yours – and their – bottom line
Showing that you care about saving a buyer money is a major asset towards improving your chances with buyers. As a seller, it’s on you to pay the commission to your agent and the buyers’ agent. That in itself caters to the buyers’ bottom line, but you can take it a step further by giving yourself the chance to increase the value of your home relative to the asking price by not having to pay that commission as the seller and instead, pocketing the commission at the end of the sale of your home.
This is made possible by companies like beycome, where the typical agent commission that normally goes out of your pocket ends up going right back into it. This makes it possible for you to financially anticipate a refund that can help you negotiate a little more in the buyers’ favor when that critical time comes. Helping a buyers’ bottom line is a fast track to improving your chances with them and standing out from the other homes in your area.
Improving your chances with home buyers in order to make a profit on the sale of your home are directly proportional – the more you set yourself up to have a good chan zegsce of attracting a qualified buyer quickly, the more money you will make when you sell your home. Be smart and take into consideration these 5 ways to improve your chances with home buyers before you list and sell your home and you will be well on your way to not only selling your home to the perfect buyer but making a profit on the sale as well.