Selling a home in today’s economy and depressed housing market can be a daunting task, especially if it is an upscale home. Here are some tips that can lead to success in selling your luxury or high-dollar home:
1. Make sure you understand your market
Whether you live in a major metropolitan area or in the boonies, you need to understand your market in order to sell your home. What are buyers looking for? What homes are selling and why?
Conduct as much research as possible to determine your chances of selling at the price you desire. Enlist the aid of various professionals, including real estate agents.
2. Price your home to sell
This is one of the most difficult tasks for many sellers because of the emotional connection to their home, or because they have a false sense of its worth. To avoid this, hire a professional home appraiser, who will walk through your home, take pictures, make measurements, and note conditions throughout the home.
The appraiser will then make comparisons to other homes that are for sale or have recently sold, and establish a price representing the home’s estimated fair market value.
During this process, adjustments will be made for amenities that exceed the norm as well as those that are lacking. The size and condition of the property are also factored into the equation.
Armed with the written appraisal, do some homework yourself to compare your home to similar homes for sale in your area. Once you have completed this process, you are now ready to establish a price that is fair to you, but will also result in a quick sale.
3. Prepare your home to be sold
Pricing your home properly is only half the battle. The other half is in making sure that potential buyers can see your home’s worth. That means you will have to keep your home tidy, and in top-notch condition. If your selling price is in the luxury range, potential buyers want to experience luxury during a walk-through.
In order to make this happen, you will most likely have to invest in kitchen and bath upgrades, such as granite countertops, stainless steel appliances, and whirlpool tubs. Curb appeal is crucial to getting a potential buyer to stop for a closer look. Make sure the home’s exterior and roof are in good repair. Paint the front door and replace the door’s hardware. Make sure the landscaping is neat and well manicured.
4. Obtain professional help if necessary
A homeowner may be able to sell their home without any help from a real estate agent. However, for a luxury or high-dollar home, this might not be the smartest thing to do. Don’t underestimate the value of a professional real estate agent’s connections, experience, and expertise.
Your goal should be to sell your home at its maximum fair market value in a timely fashion. We hope that the tips provided here will help you accomplish that.