Any home seller wants to get the most they possibly can for the property they have devoted so much time and effort to over the years. To ensure you have the best odds of making that desire into a reality, here are 5 tips to maximize profits when selling your house in Riverside.
Find Your Perfect Agent
It’s common to see a home seller get a recommendation for an agent from friends or family and immediately turn to that single agent to move forward with selling their property.
While recommendations are great, it’s better to test the waters and meet with at least three agents from three separate agencies to go through the details of your home. This also provides you with an opportunity to get a feeling for which agent is the most experienced and qualified, has your interests in mind, and is willing to negotiate their commission.
Too often, home buyers and sellers don’t bring up negotiating commission, and they end up leaving money on the table.
Price for Your Local Market
With a stellar real estate professional on your side, your agent can immediately put their expertise and local market knowledge to work by evaluating and pricing your home competitively.
This is done by comparing the closing prices on similar homes in your neighborhood that have sold over the last few years. The ultimate result of their research hopefully is a price that will get you the most money while also being attractive enough to potential buyers that they will come calling.
It’s important to take what your agent has to say regarding pricing to heart. There’s always the chance that you feel their suggested asking price feels low, and this is likely done to draw in the buyers to seize on the opportunity of multiple competing bids.
Update Based on ROI
Sellers should be sure to do the requisite deep cleaning and decluttering to prepare their home for showings, but there are some small repairs and updates that can be completed for little cost.
The key ingredient when it comes to performing any updates in your home is return on investment, or ROI.
Owners have a tendency to leap at large-scale kitchen and bathroom renovations. While these projects do typically recoup the majority of their cost when selling your house in Riverside, we are looking for jobs that can be done in a matter of hours and with little to no monetary expense.
Examples include power washing the exterior, gutters, and driveway; changing out kitchen and bathroom cabinet pulls; and repainting minor dings and scratches in walls or decks.
Get the Word Out
Once you have an excellent listing available to the general public, don’t leave everything up to your agent.
Share your listing on widely used social media platforms along with some basic information on your property. As another step, ask friends and family to please share the post with their friends to help generate further interest in your for sale home.
A large part of moving the home sales process along is making sure anyone who could be interested in your home sees that it’s on the market and in great shape.
Pick Apart Your Offers
After you start seeing offers come in, don’t jump on the first one that lands in your lap.
Be careful to go through all of the details of any offers, including the amount of earnest money offered, contingencies, and the timeline for closing the deal.
Finally, be careful not to accept an offer that is unrealistically high. If the buyer is being financed through a private mortgage lender or bank, the lender will require an appraisal. If the appraisal comes back showing the value of your property is substantially lower than the offer price, the buyer’s lender is likely to deny the financing, and the entire deal will fall through.