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How can I get the Best Price When Selling a Home?

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  • Written By: Sherry Holetzky
  • Edited By: Lindsay D.
  • Last Modified Date: 11 November 2018
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Selling a home for the best price is dependent upon several factors. One of the most important considerations is the trend at the time; is it a buyer's market, or a seller's market? If it is a buyer's market, the supply of homes is greater than the demand. Homes tend to sell for less when supply is high, so if possible, consider waiting and selling a home once the market shifts.

If you are selling a home despite the market, make sure the deal you are offering is attractive. You can do so by offering competitive perks, such as paying down points to make the buyer's interest lower, or paying the closing costs, rather than lowering your asking price.

Maximizing space is another important rule when selling a home. Put away as much clutter as possible, including those items you use on a daily basis. In the kitchen, put the toaster, the blender, and the coffee pot in a cupboard so you can show off counter space. In the bathroom, it is good to stash toothbrushes and toiletries for the same reason. Throughout the rest of the house, clean up newspapers, magazines, toys, shoes, and sports gear. Clutter makes buyers think there isn't enough storage space.

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When selling a home, check out similar, nearby homes on the market. What are the prices of comparable homes? What, if anything, do they have that your home does not? Make sure your house feels like the best value in the range of comparably priced homes. Consult with a Realtor to learn which updates and renovations bring the greatest returns, and concentrate on those items. If there are repairs or updates you can make at a reasonable cost, begin making such improvements as soon as possible.

When you are selling a home, you also have to be able to detach yourself from the sentimental value you have placed on the home and see everything through a buyer's eyes. While you may love the bright primary colors in the playroom you created for your children, not every buyer has children. When selling a home, it is best to paint such a room a warm, neutral color that will appeal to the largest number of people. If you don't, it is likely that you will still receive offers, but be assured that buyers will be deducting the cost of labor and supplies for a fresh paint job from those offers.

Having at least one open house is the best way to receive multiple, competitive offers, but only if your home is in impeccable shape when shown. When selling a home, any work that needs to be done should be completed before the open house. Buyers should be able to walk in and start thinking about where they want to place their furniture, rather than thinking about all the time and money they will have to spend to get the house in shape before they can move in. The majority of home buyers are looking for a home that is in move-in condition, so give them what they want.

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sunshine31
Post 2

Sunny27- You are so right. I immediately walk out of homes that are cluttered and full of knick knacks and huge furniture. With the market the way it is, the homes really need to stand out.

Also, I want to add that the home needs appropriate pricing. Too many people don’t listen to their real estate agents and price the home too high, and then they wonder why they haven’t gotten an offer yet.

The best strategy is to price it right the first time because once the house goes on the market it remains fresh for a short window, after that people lose interest and move on to newer properties on the market.

Sunny27
Post 1

Great article. I agree that staging is a must for selling a home. It generally brings a much higher selling price.

Removing clutter and even pieces of furniture create the illusion of a much larger space. Such personal items and pieces of oversized furniture should remain in a storage unit until you sell your home.

Many storage unit facilities offer specials such as 50% off the first month’s rental and some even go as far as waiving the first month’s rent altogether. The home needs to appear as neutral as possible so that the buyer can envision living in the space.

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