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For the past couple of years, sellers really benefited from the real estate market. In many instances, simply announcing a sale brought on a feeding frenzy of buyers. Many of those buyers paid well above asking simply to secure the sale. Unfortunately, the days of bidding wars and low to no effort by the seller appear to be waning as the market begins to balance itself. Fortunately, while you must make some effort to snag a buyer, you do not need to break the bank to maximize your profit on a sale. Use these cost-friendly tips to make sure you receive the highest sale price possible for your Inland Empire property.
How to Maximize Your Profit Without Spending a Dime
Proper Pricing is Rule #1
If a home sits on the market for several weeks, most likely, the list price is to blame. Always, always talk to your REALTOR® about neighborhood comps. These show you what similar homes to yours sold for recently. That provides a picture of what you may realistically expect to receive for your Inland Empire home. Then, listen to your real estate agent’s opinion. They know the market and current trends. They also want to sell this home as much as you do. So, their educated advice is well worth considering when deciding on a list price.
Additionally, think strategically about pricing. Perhaps list it slightly below market. Or consider a sales trick as old as time…the power of “9’s”. For example, instead of listing for $605,000, price it at $599,999 instead. This sounds slightly better. Also, it helps you with the search parameters for buyers looking online. Let’s say they want to search for properties under $600,000. So, they set their search at homes between $500,000 and $599,999. If you price your property at $600,000, it will not show up. But, if you price it slightly less, it will.
Maximize Your Online Profile
Studies show that a majority of buyers utilize the internet at some point during their home search. In fact, in many cases, this may be the first time they see your property. Therefore, you need to ensure that they see it in its very best light. Professional photos and videos make all the difference in how buyers assess your property. Oftentimes, real estate agents include these with their services.
Also, make sure you let your REALTOR® know all of the positive aspects of your home that appeal to a buyer the most. For example, how close is it located to parks, entertainment, shopping, schools, and restaurants? Did you recently upgrade appliances, the HVAC system, or flooring? Is the backyard fenced-in (good for kids and pets)? Single-story properties appeal to older buyers and those with physical limitations. These should all be included in the description to offer as precise a picture for the buyer as possible.
Clear Out the Clutter
Finally, get rid of the “excess”. Pack up, donate, or dump items you do not use on a regular basis. This includes packing away all personal items such as family photos, children’s artwork, and personal collections of any sort. Take one-third to one-half of the clothing out of each closet. This makes the closets all appear much larger (something all buyers want to see). Pare down your kitchenware to just the basic necessities for this same reason. (Buyers open every cabinet, every drawer, and every door.) Store all of these as well as your bigger, bulkier furniture in a storage unit or at a friend’s/family member’s home if possible until you sign your final paperwork.
When you decide that you want to list your Inland Empire home on the market, contact me. I am always happy to help.
Muna Dionne, your Inland Empire specialist with Coldwell Banker Realty
