Selling your home over asking price is naturally the goal for every seller; however, buyers see things differently. They want to get the best deal possible on the home, which means that they won’t be making an above market offer unless they think that’s what it will take to close the deal. With advice from your real estate agent, it’s your job to present your property in a way that inspires buyers to maximize their offers.
- A Slightly Below Market Asking Price Can Lead to an Above Market Sale
Yes, it sounds like cheating to say that starting with a low asking price is the easiest method for selling your home over asking price but hear us out. In this case, we’re talking about an asking price that’s about five to 10 percent below the actual amount you hope to receive for the home, chosen with help from your real estate agent. By setting a price slightly below market, you encourage more bidders to enter the picture. The more people who bid, the more the price goes up. - Make Sure Your Home Is in Great Shape
When buyers look at a home that’s considered a “fixer-upper,” what they’re looking for is a home that they can buy for well below market value. Before selling your home, invest some time and money in fixing any maintenance issues around the property. You can save money by tackling DIY projects like painting while bringing in the pros for bigger jobs. A well-maintained, move-in ready home is much more likely to generate an above market offer. - Keep It Clean to Create a Positive Impression
First impressions are essential when selling your home, so cleaning your home until it sparkles is likely to leave buyers feeling warm and fuzzy. Before your home hits the market, clean it from top to bottom, including the out of the way places buyers will look at to see how well you’ve taken care of the home. Once you complete the initial cleaning, keep your home clean so that it’s always ready to show. - Consider Curb Appeal to Attract Interest
While the first impression after a buyer enters the home is essential, you don’t want to forget about curb appeal when selling your home. A property that looks great from the curb is much more likely to draw buyers in, attract interest from passers-by, and make a great impression when buyers arrive for a showing. Make sure that your lawn is well-maintained, your landscaping draws attention for the right reasons, your yard is clean, and the exterior of your home is looking great. - Be Patient and Encourage Competition
After all of the work that you’ve put into preparing your home and choosing a price that encourages multiple bids, the last thing you want to do is accept the first so-so offer to come across the table. Be patient, follow the advice of your agent, and let the market develop. Attracting multiple bids is the key to selling your home above asking price, and your patience can pay off with a great final sale price for your home.
Selling your home above asking price requires market savvy, along with a willingness to roll up your sleeves and do the work to make sure your home looks its absolute best. The help of an experienced real estate agent will be invaluable throughout the process, from choosing the right price to closing the deal.
THINKING ABOUT BUYING OR SELLING A HOME? I can help make the process easy, get in touch today!
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CBR, SRES - Licensed Real Estate Salesperson
Phone: 516.849.5895 | [email protected]
As an experienced professional Neil will do the leg work, keeping you up-to-date with new listings and the various market conditions that may impact the home purchase process. Sellers can also benefit from his skills in finance, negotiation, contractual agreements, and RE marketing. Call today and allow Neil to guide you through the complexities of buying or selling your home, eliminating hassles, and stress.
Member of:
National Association of Realtors
Long Island Board of Realtors
Multiple listing service of long Island
New York State Association of Realtors