6 Little-Known Strategies That Help Get Your Home Sold For The Most Money Possible

6 Little-Known Strategies That Help Get Your Home Sold For The Most Money Possible

Selling your home can be an overwhelming and emotional experience. You need smart, straightforward strategies that will help you maximize your profits, maintain control, and reduce the stress that comes along with this process.

Although the exact strategy depends on a seller’s particular goals and timing, here are six strategies used on most listings:

1. Determine when you are selling, and then keep it to yourself

This will dictate your actions and decisions on several factors — from the selling price to how much time and effort you invest in getting your home ready.

The time of year you plan to put your home on the market will dictate the best strategy to reach buyers for that period.  For example, when you list a home during the holidays, you’ll take one approach, while listing during the busy spring selling season requires a much different approach. 

The goal of both strategies is to get the most money out of your home in the shortest amount of time. 

Once you decide when you are selling, I recommend keeping all the details such as why you are selling, when you are selling, for how much, etc to yourself. 

Why?

Because knowing when a home is coming on the market may influence others in your neighborhood who plan to sell, and in that way, it could impact your sale. Neighbors planning to list their home could change the price they want to sell for or even when they sell if they hear about your plans.

Key Takeaway:  Your timing determines your strategy and then mums the word. 

2. How will you answer the number one question potential buyers will ask, “Why is the seller moving?”

This can sometimes be a tricky question to answer, so you want to be sure you have an honest yet satisfactory answer to this question. 

Sometimes the answer is an easy one—moving because of a job relocation or moving out of state to be closer to family. 

However, when you are moving because your current home no longer fits your life for whatever reason, your answer for why you are moving could also make buyers rethink whether they will run into the same issue after they buy. 

Think about and craft an honest answer to this question that will give potential buyers the information they are looking for without jeopardizing the sale. 

For example, if you bought your home five years ago when you were single and now married life has you wanting more space, we might say that you loved living there for five years of being a single in the city, but as newlyweds you are excited to buy your first home together.

Key Takeaway: Have an honest yet satisfactory answer to the question, “Why are you moving?”

3.  Know your most likely buyer

This is THE most important part of selling your home quickly and profitably.  Knowing WHO is most likely to buy your home will determine so much about HOW to sell your home.

It will determine decisions like when is the best time to sell, what should the home look like to be most appealing to this buyer, and even how to price it. 

Understanding your most likely buyer’s motivation will also help drive the best strategy to get your home sold for the most money, especially once you are in negotiation mode.

Does he or she need to move quickly? Does he or she have enough money for the asking price? Why do they want to buy?  Are they most likely first-time buyers and don’t have another home to sell?

Knowing this information gives you an advantage in the negotiation process since you want to control the pace of the back and forth between yourself and the buyer.

Key Takeaway: Knowing who is the most likely buyer of your home will drive how you will get your hold sold. 

4. Maximize your home’s potential

Now that you know when you plan on selling, why you are moving, and who your most likely buyer is, it’s time to get your home in show-shape.

Buyers want to imagine themselves living in your home.  You want your home to look like THEM, not you. 

This is a two-step process. First, you’ll do all the “normal” things like cleaning, uncluttering, scrubbing, dusting, painting, if necessary, to give your home the WOW factor from top to bottom.

Next, you and your realtor will walk through your home and help you do small things that will speak to your most likely buyer.  Doing this will tug at your buyer’s heartstrings and help them have an emotional response to your home—we want them to feel right at home! 

Key Takeaway:  Your home should look like your most likely buyer’s home, not yours.

5. No vacancies or empty rooms

A vacant home looks forlorn and forgotten, and just not very appealing. It’s hard for your potential buyer to “see” themselves there if it’s a blank slate. 

Instead, you want them to walk in and “see” themselves as though they already live there without them having to paint the picture. 

So, whether you are still living in your home or not, you want it to feel full of life.  Your realtor can either help you edit your current home down to the bare minimum so it speaks to your potential buyers OR some realtors have a team of professionals who can do it for you and can make your home come to life after you’ve already moved out. It’s your call!

Key Takeaway: Help your buyers “see” themselves in your home by not selling it vacant, even if you’ve moved out.

6. Watch the market carefully

Keep a close eye on the market between now and when you plan on putting your home up for sale.  I even recommend not setting the exact price until the day before it goes live on the market. 

Reason being—prices change pretty quickly and your value will be determined by what’s selling (or not selling and sitting on the market), the WEEK you list your home. 

Your realtor will review the price range your home will most likely sell in and discuss pricing strategy with you, but I encourage you NOT to set the price until very close to your listing date. Not all realtors will operate this way, so be sure you vet out your agent before you hire them.

It’s much better to wait and have the most up-to-date data on what has sold, what has come on the market, and what is staying on the market in order to determine the perfect listing price for your home. 

Key Takeaway: Be willing to wait until right before your home goes on the market to decide on the exact asking price.

I’m here for you!

These are six strategies for you to think about before selling your home.  When you start to think about selling your home and well before you are ready to go, be in touch with me at jeng@firsthome.com. We’ll set up a time to meet and talk through your plans to make sure you get connected to the right real estate agent to help you and get the most out your biggest investment.