3 P’s to selling your home in any market
Updated: Dec 1, 2022
Did you know? That in selling your house in any market, it’s important to prepare, position and price it correctly in order to maximize your home sale. Regardless of whether home values are up or down!
• Making a list of all those small repairs that you haven’t gotten to yet.
• Inspect for major repairs (roof, termite, electrical).
• Consider painting to refresh your home or bring in more light.
• Lighting – updated lighting in the dining room, kitchen and baths can be an inexpensive and impactful update that buyers love.
• Cabinets – still have those old cabinet doors and hardware? A coat of paint (done properly) and some new handles can add the wow factor immediately.
One of the Bennett Team’s important services is to come to your home, provide a list of updates and repairs to consider, and then have our contractor team come in and price these out for you.
Knowing your numbers AND being able to show a return on that investment (ROI) for any updates; really adds value to sellers who could be stuck in the “what do we need to do to sell our home for the most amount of money right now?”
Position it correctly
Now you have your home selectively updated and prepared for the market. How do you position your home vs. the competition? Well, what is the competition? How many homes are for sale in your city, your community and in your price range? How many days have those active homes been on the market? How many days did other homes go pending at? What is the difference between your home and the competition right now? Is it the schools? Location to transportation? Commute time? Is it a larger lot? Does it have a pool or 3-car garage and so on.
These questions are important in positioning your home vs the competition – and then choosing the right price to list it at to grab any and all buyers that are shopping for a new home in that price range.
Price it right
One of the first things buyers will notice is the price of your house. That’s because the price sends a message to home shoppers. Pricing your house too high to begin with could put you at a disadvantage by discouraging buyers from making an offer. On the flip side, pricing your house too low may make buyers worry there’s some underlying issue or something wrong with the home.
Your goal in pricing your house is to gain the attention of prospective buyers and get them to make an offer. And with home prices sliding and buyer demand moderating, as well as a greater supply of homes available for sale, pricing your home appropriately for where the market is today has become more important than ever before.
But how do you know that perfect number? Pricing your house isn’t a guessing game. It takes skill and expertise. Work with a trusted real estate adviser to determine the current market value for your home.
Want to see an example of all of these suggestions in person? Stop by our newest listing on Hock Maple Court in Concord this weekend. (see address and pics above)
My team and I meet with home sellers every day who are considering selling their home in the next few months. Having the expertise to guide you on updates, repairs, pricing and return on investment to get your home sold in today’s market is what we excel at! It’s kinda fun to turn your home into the best product on the market and help you meet your goals as well.