The adage “it takes money to make money” may be applicable in some situations but there are ways to maximize your asking price without putting thousands of dollars into the sale. Here are some unique ways to get the most from your home sale and still cut expenses on marketing and advertising.
- Price it right.
Of course, every agent is going to tell you to price the home correctly from the beginning. But, many homeowners still think that they can over inflate the price and come down if necessary. This has so many disadvantages, though. By the time you lower the price to where it should be, it’s been on the market so long buyers are wary of it and simply steer clear. It’s important to price it correctly from the beginning.
- Pricing creatively.
Look at your closest competition and then price it lower. You can also set your listing price at a unique number such as $482,959. It’s such a unique and at a price that it begs further investigation. Also, consider pricing it just under and even amount. Instead of listing it at $400,000, that the list price at $398,000. You will get people that go up to $400,000 and may be able to come down on those that search up to $390,000.
- Get creative with demand.
It can be risky but consider listing below market value. This might create a psychological sense of urgency. In hot markets, buyers scramble to get on board with a low-priced home. In multiple buyer situations, you may get several offers far over your existing listing price and even higher than market value. Talk to your real estate agent about the best way to go about this risky but very profitable marketing technique.
- Because it’s on home improvements.
There are many home improvements that can enhance your home’s value and then many that will give you the return you’re looking for. Items that should be replaced is old or tired flooring, cracked, peeling, or outdated paint, and update the kitchen and bathroom if possible. These are the main areas that buyers are looking for. But again, talk to your real estate agent about the items you should and shouldn’t improve upon. You don’t want to put more money into the home the necessary.
Each home is unique and should have its own unique or creative marketing and advertising strategy. At Premier Real Estate, we carefully analyze every single home to maximizing your offer price and minimize your expenses. Contact us today for a free in-home listing presentation about what your home could be worth throughout Maryland, DC and Northern Virginia.