When it's time to put your house on the market, there are a few things you can do to ensure that you get the highest amount possible for your home. From decluttering and touching up paint to crunching numbers, a little extra work can go a long way and can put potentially thousands of dollars back in your pockets. Here are some of the best ways to make your Hampton home stand out from others on the market so it sells quickly, and at the highest sale price.
Price wisely
The most important factor in selling a home successfully is choosing the right selling price. If you price your home too low, you lose thousands of dollars in profit, but too high, and buyers won't give your home a second look. Look at homes in your area and compare your home to others that have recently sold. Consider what houses in the area are selling for, and try to price your home competitively within the same range.
The biggest goal in pricing your home is to sell it quickly. A home that's left on the market too long due to poor pricing won't get many offers, and most of them will be under the asking price. This will make it extremely difficult to get the profit you'd like out of the sale of your home.
Strategically use price points
Hamptons buyers set their budgets based on a range of prices that typically span $1M. When pricing your home, take into consideration whether your asking price will draw in the largest number of potential buyers. Set your price just slightly below the top of the range you think you’ll trade in. For example, if you’re willing to take $2.7M if you get no better offers, then price it at $2.995M.
Hire a trusted realtor
Don't try to sell your house without a trusted realtor. Your realtor is a professional who has years of experience in selling homes at top dollar, and they'll work hard to make sure yours does, too. Before pricing your home, have your realtor do a walk-through, and work together to create a strategy for selling it. You can make requests regarding how quickly it needs to sell and whether you can be patient during the selling process.
As an added incentive, it may benefit you to offer your selling agent an incentive for selling your house at a higher price point. That can motivate your agent to work extra hard toward finding a buyer that's willing to pay the highest amount for your home.
Offer incentives to potential buyers
Incentives don't only work for realtors — they also work in motivating potential buyers to take the next step toward making an offer on your home. There are many different methods for providing incentives. Some common methods include paying for their closing costs, paying for the inspection or other repairs, and providing allowances for upgrades after the house closes. You can also offer to pay for the buyer’s insurance or taxes at closing.
Additionally, some sellers get creative in offering incentives like paying for cable for a year or offering to pay for local memberships for a set amount of time. In today's aggressive market, just about anything is up for consideration in order to push a sale. Your realtor can help determine whether this would be a good tactic to try when selling your home.
Increase curb appeal
Curb appeal greatly affects how quickly your home will sell. The exterior of your home provides the first impression to potential buyers, and if it's in disrepair, they may not take a second look. If your home's exterior doesn't look like it's been cared for, many buyers will assume that the interior is equally messy. Take action and make necessary repairs to the exterior of your home. Add a fresh coat of paint to the front door and shutters, pressure wash the siding, and replace the mailbox if it's old. Take some time to make sure the landscape is clean, organized, and appealing, and plant some flowers if the season is right. If it's spring or summer, make sure the lawn is mowed, and if it's fall, make sure leaves are raked away. When your home's exterior is neat and tidy, buyers may be beckoned to take a look inside, providing the potential for a sale.
Declutter and stage the home
A potential buyer wants to be able to imagine himself or herself in your home, making their own memories and adding their own personal touch to each space. In order to provide a blank canvas, it's important to declutter your home. Remove all photos and personal items, and pack clutter into boxes. Many homeowners use this opportunity to pack a majority of their belongings and put them in a storage unit so it's easier to move when the time comes. When your home is clutter-free, it will look bigger, giving the illusion that it's got more space, and buyers will be able to see their belongings safely stored inside.
Once you've decluttered, you can stage your home so it's ready for showings. In order to do this, create a focal point in each room, and add items that show the potential of each living space. Place a coffee mug on the bistro table in the kitchen, or leave a book on the coffee table near the couch, so buyers can envision how each space can be used.
Make needed repairs
Before listing your home on the market, make sure you've made all the necessary repairs. Peeling paint, rotten wood, and faulty outlets will pop up on a home inspection, and buyers can use them to negotiate the price they'll pay for your home. Avoid the headache by making any needed repairs so the inspection report comes back clean, and your buyers won't have any leverage power.
Some other problems that are easy to fix include:
- leaky faucets
- running toilets
- broken lights (or light bulbs that need to be replaced)
- cracked windows
- leaks or cracks in the foundation
- low water pressure
Try your best to get ahead and fix these issues before an inspector can point them out.
Consider pre-appraisal and pre-inspections
Ordering a pre-inspection is one way to catch problems before the buyer gets a chance. Consider hiring someone to inspect your home ahead of time so you can make any needed repairs and show potential buyers that the home is safe, up-to-date, and ready to sell. The only drawback is that if something major appears, you must disclose it to the buyers, even if you repair it.
A pre-appraisal is helpful in providing an unbiased price for your home. Have an appraiser come to your home to provide a price point that your home is worth. This can be used when discussing the price of your home with potential buyers, and since its objective, both the buyer and seller can benefit.
Use social media to your advantage
In a world where everybody's connected online, it's wise to showcase your home in as many places as possible. Using multiple social media outlets means more eyes will see your home, and this will hopefully encourage more people to see it in person. High-quality photos of your home's exterior and interior can be shared on social media sites like Facebook, Pinterest boards, Youtube, and blogs. Many realtors also use social media to promote homes that they're selling and bring in interested buyers.
Aside from social media sites, make sure your home is listed on all of the real estate websites. The more exposure you're able to receive, the more likely the right buyer will see your home and ask for a second look.
Change strategies when one isn't working
If your strategy isn't working, it's easy to make tweaks and adjustments so your home can sell quickly and at top dollar. For example, if your home isn't getting a lot of views, you may need to adjust your price. If, on the other hand, you're getting plenty of views, but offers aren't flowing in, you may need to reconsider what makes your home look less than ideal?
A seller who can be honest with themself can quickly adjust their strategy in order to be successful. This is also a great time to lean on your realtor for help. They've got plenty of experience in selling houses, and your realtor can help you quickly identify the problem, and they'll likely know the perfect solution to get things back on track.
Sell your home with Crosby Renwick
If you're ready to list your home on the Bridgehampton real estate market, contact our office today. Crosby Renwick has extensive experience in buying and selling luxury homes in the Hamptons, and you can trust him to sell your home at the highest price point. Call today to start the process of selling your home.
