7 top tips to achieving the highest asking price
When you are selling your home, you want to obtain as high a price as possible. Here are 7 top tips to achieving the highest asking price when selling your home.
Research the best prices and set it at a realistic level
Some experts may try and tell you to price your property as high as possible. If someone is desperate for your home or they need to move quickly, you may find that they are happy to pay this higher price. This can happen on occasions but the more likely outcome of pricing your property higher than the market average is that people will ignore your property.
If this situation runs for a couple of months, your property can become stigmatised with being on the market for a while and your own optimism surrounding the deal can fall. These are factors that can lead to you eventually accepting a lower price.
This means you are better off starting with an initial price that is fair, well-researched and in line with what you should expect to receive.
Avoid getting caught in a chain
There have been reports and a lot of anecdotal suggestion that many property owners are deciding to rent out property during the selling process in order to break the property chain. Being involved in as short a chain as possible will increase the likelihood of the deal going through, which will increase buyer confidence. When buyer confidence is higher, they will be more likely to provide you with a bid or offer that meets your needs.
“The smaller the chain the better,” she said, adding that a shorter chain would minimize the risk of getting involved with a buyer who might battle to get mortgage finance under current market conditions.
Hire the right estate agent
If you are looking to maximise the amount of money you make on selling a home, you want to find the best professional to help sell your home. You don’t need to naturally assume that the cheapest estate agent is the worst and the most expensive is the best, this is rarely the case. However, you do need to look at the track record of estate agents, find out what they will offer you and learn what they will do to sell your home quickly and for the best possible price.
There are many ways in which an estate agent can improve the money you receive when selling your home, and if this means spending a little bit more on an experienced agent to get a better return, it will be a sensible use of your money.
Present your property in the best manner, including outside of your home
Working with the most effective estate agent isn’t just about promoting your property; they will provide information that helps you present your home. A good estate agent will know what buyers in this area are looking for and how you can best present your home. Following their tips on presenting your property, which includes the garden and exterior area, will help you to be more attractive to potential buyers, which should help you receive a better price for your home.
Ideally, you should be looking to create more space at home to increase the value of the property and make a larger sale. If you have the time and funds, you should extend your home or convert your loft. However, not everyone has the time or funds to take this step, and this means you need to maximise the amount of space you offer at home.
This is where decluttering your home, removing unnecessary items and looking to create as much space in each room as possible will help you convince potential buyers that you offer a property with considerable space.
Be proactive with your promotion
While hiring the most effective estate agent will go a long way in helping to sell your home, you need to be proactive in promoting your property. You should talk on social media, promote the property to your circle of friends and family members and you should also make yourself aware of the key points of your local area and what people want from your home.
You should also be willing to provide personal thoughts on the local area. If you have opinions about local schools, facilities, shops or the transport options, share them with potential buyers. Taking the time to create a small document which contains your opinions on the local community will give potential buyers insight into the area and it will also show that you are a thorough and helpful person. This may be the sort of thing that makes a buyer view you, and your property, in a more positive light.
Don’t get in the way of a sale
While you may think that you are helping sell your home by being involved with the process or doing additional work, sometimes property owners are their own worst enemy. There is a lot to be said for finishing all the repair work around a home before you present it to the market but if you don’t have DIY skills, don’t do the job yourself. If you are not very good at presenting or meeting new people, don’t insist on carrying out the viewings.
If you have something to offer in promoting or selling the property, get involved as much as you can, but if you are likely to be a hindrance, remove yourself from the process and leave it to the professionals.