Blog, For Sellers, Guides
Maximizing the Selling Price of Your Home
Posted 1 year ago by Mark Cheng · Leave a Comment
If there’s one key to getting the highest price for your home, it’s exposure. As with selling anything, the more customers who are willing to pay for a product, the higher the price the product will demand. In addition to the number of buyers who go through the home, the features, benefits, and condition all have an effect on what a buyer is willing to pay. Buyers who see your home as being different, unique, or special are willing to pay more for it to outbid other buyers. So the two biggest questions that your real estate agent should be able to answer are:
How do I get as highest number of people through my home to get the best offer possible?
Every qualified buyer who walks through your home is a chance to sell. This means that the more qualified buyers that visit your home, the better your chances of selling and the higher price you’re likely to get. This is where your agent comes in.
A skilled professional will have a strong real estate marketing plan to get buyers excited about your property and motivated enough to make in person visits. The number of in person showings is the key number in determining the quantity and quality of offers a property will receive. Agents need to know the numbers for specific markets in order to know when to adjust. For example, in the Arcadia real estate market, that number is 5-8 showings per week for a good chance of selling quickly. Any less and the chances of getting an offer declines, but more may mean you might even get multiple offers. My marketing plan is specifically design to encourage as many buyers to enter and tour the property as possible.
How do I make more of the buyers who visit fall in love with my house?
So you’ve gotten the right number of showings, how do you turn more of those showings into offers? I’ve had clients who listed their home with another agent and started with over 15 showings per week and finished with less than 1 per week after being on the market for over 6 months, all while receiving zero offers. A few months later, after listing with me and preparing the property for sale, the owner received a full price offer in two short weeks.
What made the difference? Pre-listing preparation. Preparing a home for sale is one of the most overlooked and important considerations before selling your home. Preparing to sell your home is much like preparing to sell a car. Before you sell a car, you wash it, vacuum the inside, remove the clutter, and show that it’s been kept in good condition, and it’s the same with a home.
Most of the homes I list, even newer ones, need some amount of preparation to be in showing condition. The exact amount varies from home to home, but you only have one chance to make that first favorable impression on a buyer’s mind, so make sure it’s completely ready before buyers see it. Otherwise, you may risk losing that buyer who would have been willing to pay the highest price. Your agent should not only provide a list of things to do before you put your home on the market but should also be able to refer you quality professionals to get the job done, if it’s required.
Now that you’ve gotten tons of visitors and an offer or maybe even multiple offers, how can you make the most of the situation?
Next: Offers and Negotiation: How do we make the most out of every offer?
Previous: Listing Your Home: How do I get started? What are the costs involved?
Table of Contents: Mark’s Selling Guide
I am an experienced Southern California real estate professional helping clients purchase and sell San Gabriel Valley homes. I specialize in the cities of Arcadia, Temple City, San Marino, San Gabriel, South Pasadena, Pasadena, and the surrounding area.