Buying a newly constructed home is great, but first you have to sell your old home, and stories about homes on the market for months or years with ever-increasing price reductions can make this idea pretty scary. Figuring out how to sell a home in today’s market is daunting, but it doesn’t have to be. The following 4 steps can speed up the sale of your old home and get you into that new construction sooner.
Step 1 is the most important step of all; price your home strategically. To do this find a real estate agent who can compare your home’s size, features and condition against recently sold homes in the same market, and determine how to price it at the best value in its price range. What is strategic pricing? Check out this article from the Houston Chronicle. Overpricing a home will cost you potential buyers, and result in lowered list prices and more time on the market, until ultimately selling for less than it probably should.
Step 2 is to make a great impression, and this is one step most people already know about, although making a great impression on the greatest number of people may require some tough decisions. Much that makes your home a home can also get in the way of selling it to someone new. Toss or store non-generic items like decorative flags and lawn ornaments, art, toy, or other collections you proudly display, magazines and newspapers, toiletries, clutter, and any evidence of pets. Your goal is to create a living space other people can picture themselves living in. When in doubt, ask your real estate agent for advice.
Step 3 is to invest time and money on small projects, like re-grouting tile, repainting, refinishing the basement, or getting a new front door. This step is easier after you complete step 2, because removing personal items (like the five shampoo bottles on the edge of the tub) can reveal potential projects (like removing the mold on the grout between the tub and the wall). Don’t get carried away during this step though, because you may not get the returns you expect from big renovations. Check out this link on Today.com for 8 tips to sell your home this spring.
Step 4 is remembering that people buy homes, not houses, and this means they want to establish an emotional attachment. While step 2 set the stage for your potential buyers to begin to see themselves in your home, step 4 is helping buyers see themselves in your neighborhood and community via social media. What is the school system like? What restaurants, grocery stores and shopping malls are nearby? The Chicago Tribune article entitled Quirky Twitter account helps sell Mount Prospect house tells a story about one man’s innovative marketing idea using Twitter. Your real estate agent may already be leveraging social media, as the article recommends. Contact us to find out more about selling your home.