Quick Tips to Get the Best Price When Selling Your House
March 26, 2021
The ultimate goal for every house seller is to get the best price out of the sale. However, not everyone is able to achieve this goal because they don’t do the necessary homework of preparing their house before listing it for sale.
What if we tell you that you can get the best price for your house by following some simple tips? The most obvious question you would ask is – what are those tips?
Well, read on to know the answer.
Tips To Get the Best Price When Selling Your House
Mentioned below are 5 simple tips that will help you fetch the best price for your house:
1) Follow the local market trends
The real estate market is quite vulnerable to changes. The conditions don’t remain the same for too long. And to get the best price for your house, you need to list it for sale according to these changing trends.
You need to know the local market and closely follow the changing trends. For instance, it is quite obvious that if the number of buyers in the market is more than the number of houses, the prices go up as there is more competition. The prices go down when the opposite happens.
One of the simplest ways to find this out is to check the average Days on Market for houses in your area. Days on Market, or DOM, shows that for how long the houses have been listed in the market. You can compare this number with the average DOM for your area and find out whether there is strong demand in the market or not.
2) Pick the right time
Timing is crucial in real estate market. In one of our previous blogs, we discussed that there’s always a right time to buy a house. In a similar way, there’s always a right time to sell your house if you want to get the best price for it.
For instance, a number of people prefer to buy houses during the spring season as compared to winter simply because it’s easier to move during that time of the year. If you pick the right time to sell, you can certainly get a better deal than the one you would expect to get in the offseason.
3) Set the right price range
Setting the right price for your property is the most important step in the process. You don’t want to price it too high to make it out of reach for the buyers, and you certainly don’t want to price it too less to end up losing money. Pricing it high initially and bringing it down is also not advisable, as a declining price leaves an impression that there’s something wrong with the property. You must get it right on the first attempt.
There are a number of property value tools available online that can help you figure out what’s the average price for similar houses listed in the market. You can browse through a couple of them to get an idea. You can also get in touch with real estate brokers to see what they quote for your house. Based on
the response you get from them, you can easily find a price range and list your house for sale accordingly.
4) Prepare the property before viewing
A house with visible damage that needs repairs can never fetch a good price. Therefore, you need to get all the necessary touch-up and repair work done before you start listing the house, unless you are selling to a cash buyer as they can buy your house in as-is condition. From a minor paint job to plumbing and leakage-related work to patio and backyard maintenance, you have to get everything fixed before the buyer comes to view the property.
Even if there are no damages, spending a little amount of money on thoroughly cleaning the house, knowing that it will get you the desired price is not a bad idea, and is highly recommended. Remember, you want to make a good first impression on the potential buyer who will visit the property. By preparing the property to look as good as new, you are eventually leaving no scope for the buyer to say no to your deal.
All these works, which might seem too minute to be noticed, must be carried out with precision so that they get to see the value they are getting from the deal, and agree to pay a price that you are asking for.
5) Find a good real estate agent
Most important of all, it is vital that you get in touch with a seasoned real estate agent who understands your need and urgency. Although you can do the entire process on your own, however, it is advisable to have a professional by your side to make the process hassle-free. A genuine real estate agent would make sure that the journey from ‘For sale’ to ‘Sold’ is quick, and profitable for you.
You can research online, visit and meet a few local brokers to figure out which one can be the best resource for you. It is recommended that you meet at least 3-4 brokers before making your decision, as this helps you get a clearer picture of what to expect in the market.
Getting the best price for your house largely depends upon your preparation and presentation before the viewing begins. Remember, if you are not willing to do these two things you will have to settle for something lesser than expected.
One word of advice we’d definitely like to share while concluding this post is that if you are planning to work with a real estate agent, and don’t want to waste time talking to multiple agents, you can always choose an NRP that meets all the quality standards mentioned above and prove to be the best help for all your real estate needs.
All the best!