Maximizing Profit When You Sell Real Estate

First-time homeowners rarely think of putting their properties on the market, selling up and going elsewhere. However, there are many reasons why a first-time homeowner may become a first-time home seller, such as a new addition to the family, divorce, marriage, new employment prospects etc. When that time comes, it’s important to maximize this opportunity to generate as much profit as possible.

But where do you begin? Once you’re ready to sell your property – manufactured home, apartment, condominium, town home, or house, – you will want to get maximum bang for your buck. The process of buying a home is dramatically different from the process of selling a home.

When you buy, you put your heart and soul into the purchase, hoping to create a home that will be conducive to a high-quality life. When you sell a home, there are few, if any, emotions involved. Your objective is to maximize the profits that you generate from the sale of your home. You will typically work alongside realtors who will push for the best deal with clients.

The Price is Right

Getting your property priced right is important. Listing agents will be able to provide the necessary feedback to gauge a fair market price for your property. It’s always a good idea to look at similar properties in your area, how much they sold for, and how much they listed for. Remember, anyone can ask anything for a property, but only the buyer determines what a fair market price is.

Supply and demand characterize real estate markets all over the world. There are many comparative market aggregators for real estate listings. Shop around at free listing sites to get an idea of what your property is worth according to various valuations. Property appraisal is not an exact science; it’s an art. A buyer may simply love your property and be willing to pay substantially more than the market price to own it. When sentiment is involved, it’s important to be able to liaise effectively with buyers and listing agents to ensure a smooth deal goes through.

Home preparation is an essential part of the process. Neatness, cleanliness, modernity, and a friendly milieu all work towards making your home more saleable. Of course, there are many added extras that you can adopt to make your property inherently more attractive. These include a quality home warranty for home sellers .

The benefit of a home warranty for sellers is that it is relatively inexpensive at around $300 per year, yet it covers the appliances, HVACs, swimming pools, motors, dryers, washers and many other gizmos and gadgets in your home. These items can be substantial cost concerns when they go on the blink. When a buyer is assuaged with a seller’s home warranty plan, this adds greater peace of mind and helps to seal the deal much easier.

Ready to Sell? Be Firm & Fair

Once you put all your proverbial ducks in a row, you’ll want to communicate this information to your real estate agent and down the chain. Every time your home goes on show, it should be immaculately prepared to receive potential homeowners. A seller who is accommodating towards potential buyers is likely to win over their trust more than a seller who is intransigent to meeting potential buyers on their schedule. It’s all about give-and-take, keeping a poker face at times, and offering perceived added value.

For example, you may wish to leave behind a wall-mounted TV for the buyer if they accept your selling price. These added-value items may include additional items of furniture as an enticement to close the deal. Develop a good rapport with your listing agent, and be flexible enough to accommodate clients on their terms. Consider all offers and treat everyone with the respect they deserve.  It’s good to be firm and fair, polite and courteous because you never know who is flush with cash.

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