Every homeowner wants to get the best deal when they sell their house. You’re not alone when you dream about a bidding war breaking out over your Southern Maryland home!
According to real estate experts, most homeowners end up settling for average or below-average offers on their homes. That’s because they fail to recognize that it isn’t timing, location, or luck that leads to a bidding war; it’s knowing the psychology of buyers!
Want to sell your home for more than its asking price? Check out these secrets.
Ask for less to get more
It seems counterproductive at first glance, but it works wonders by creating the attention you need to start a bidding war. A bidding war can only take place when you have multiple buyers, and to get multiple buyers, you need a Southern Maryland home that is attractive because its price is less than the going market rate.
Price your home lower than the market rate – ideally, 5 to 10 percent lower – and you’re likely to attract more buyers who are willing to place better offers to outbid other buyers. You are also bound to get great offers because potential buyers will see the true value of your home when they visit.
Don’t accept the first offer
No matter how good the first offer on your home is, you should wait and see what other offers come your way. Waiting can allow you to cultivate competition between buyers, which can ultimately increase the final price of your home. If an interested buyer really wants your home, they’ll offer more in the presence of competition.
You might not think of Southern Maryland home investors when you’re thinking of who might buy your home, but they can help increase the final price of your home. Investors are always ready to take on a good deal, and they give regular home buyers the incentive to part with more cash. This strategy is especially effective if you have a home with great investment potential; for example, if can be easily remodeled to offer more rental space. Offers from investors can motivate regular home buyers to increase their offers.
Make your home stand out
Does your home look like it is worth more than the asking price? Do all the renovations you need to do to make your home perfect. Invest in renovations that add value to your home rather than eat away at your profit. Repainting, landscaping, roof, attic, and basement renovations are attractive to buyers and add value – sometimes as much as 10 percent or more. You can cut costs by doing some of the work – like repainting or landscaping – yourself.
Highlight what makes your home different
Every home has a key selling point, and it might not be exactly what you think it is. It could be anything, from extra garden space or a rare tree species to a famous tenant who once lived in the home. Find the truly unique aspects of your home and make sure buyers know about them. They’re more likely to see your home as having higher value if they know what sets it apart from the house down the street.
A little work – and knowledge about your house and your buyers – can help you sell your house for more than its asking price. Don’t rely on timing, location, or luck! Get into the brains of buyers and start a bidding war!
Hughesville MD Homes for Sale and Real Estate Services in Southern Maryland. You now have a search engine to help you with your Southern Maryland home search! And I’m ready to provide you with a custom home valuation if you’re considering selling your home. Let’s connect to discuss how I can help you. Contact Kimberly Bean at 301-440-1309
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