6 Tips to Maximise Profit When Selling Your House
Last Updated on December 20, 2021 by Kravelv
Selling your house for the best price possible takes a lot of hard work, skills and a great deal of patience. Here are 6 tips to consider before putting up your house up for sale to get the maximum benefit out of your sale.
1. Do it Yourself
This might come as shock because most of the real estate investors advise against it and tell you to hire a professional for negotiating deals on your behalf.
However, we would advise you to sell without an agent to cut down on the agents’ costs and maximise your benefits. There was a time when you would require a professional’s assistance to sell your property, and the primary reason for it was the absence of information.
This is no longer the case. Information about real estate is made available on various online platforms. Research well before negotiating a deal and you can very well do a better job than an agent because you will have your best interests at heart, while an agent will only be doing his job.
2. Repair, Replace and Redecorate
Get top dollar value for your property by styling it for an inspection. Repair all the damages before putting the house on the market. Most of the people think that since they have decided to sell the property, they shouldn’t be spending any money on repairing it because they will not be getting any return for it.
This is a myth that needs to be busted. The money that you spend on repairing the damages is not an expense; rather, it is an investment. Even the smallest damages can decrease your property’s value to a significant extent. Prevent that from happening by taking precautionary measures.
The more well-furnished your house is, the more appealing it will be to potential buyers, and you can easily strike a good deal in the minimal time possible.
3. Neighbourhood Effect
Your neighbourhood has a significant impact on the price of your property. A high-end neighbourhood can increase the price of your property significantly. Research the common metrics for your neighbourhood and highlight the positive traits while marketing your property.
4. Market your Property through Multiple Channels
Don’t restrict yourself to one marketing channel. For striking a timely deal, market your property through multiple channels. This increases the visibility of your property and your chances to get the best price for your property.
5. Wait for the Right Time to Sell
If you are not an experienced real estate agent, chances are that you will end up making the mistake of putting your property on market for sale at the wrong time.
The best time to sell a property is when the inventories are at the lowest and buyer demand is highest. It is a no-brainer to link a high demand with higher profits.
6. Price your Property Properly
Research the market well beforehand and price your property competitively. A useful tip to remember is to place the demand slightly below the market price to get multiple offers and the best-negotiated price.