Selling your home is a costly business. For most of us, the aim is to make a profit, either to contribute towards our next purchase, cover debts or bolster our bank balances. As houses tend to increase in value over the years, we expect to make more than we paid to begin with, and many of us count on this to help us out of financial troubles or provide us the credit we need.
Unfortunately, there are a lot of associated costs that eat into our profit margins. From legal fees to agency charges, surveys, and repairs that are necessary to sell the house, the average that people spend on preparing for and obtaining a sale is well into the thousands.
Yet most of us don’t actually need to spend so much. There are lots of ways to cut your costs and still attain a sale; you just don’t know about them. To help you out, here are three top tips for saving money and boosting your profit margins…
Tip #1: Choose Your Real Estate Agent Carefully
A lot of buyers assume that all estate agents charge roughly the same amount for their services. As a result, they perform only a small amount of research, generally choosing the first estate agent that they come across, or the one whose name they’re most familiar with. This is a big mistake for anyone looking to cut their costs.
The estate agency industry is competitive, and there are lots of companies vying for your business. Online agents, in particular, tend to charge well below the average, and still have a great track record for helping their clients to achieve a sale.
Tip #2: Use Social Media
Another method for cutting costs is to use social media. Although estate agents have a fantastic track record when it comes to making a sale, they’re not essential for doing so, and it is possible to sell your home all by yourself.
Social media is the best tool for achieving this, as it provides you with an immediate audience, the ability to connect with potential buyers, and a wonderful forum for marketing your property. Done properly, it can help you to make a sale without having to pay for the services of a middleman.
You can also use the free online lists to get more eyeballs. More buyers would drive the sale price upwards. List your property on local MLS, Zillow, etc.
To attract more social media based buyers, get help from professional photographers. Your home pictures are the entry point, if people don’t like how your home look, they are least likely to step inside to take a look.
Tip #3: Stage and Aim for a Quick Sale
It goes without saying that a quick sale helps to cut costs: after all, the less time you have to engage professional services for, the smaller the fees that you’ll pay.
This makes a speedy turnaround essential for anyone working on a budget, and luckily there are lots of ways to achieve this, from pricing your property realistically to being flexible with viewing times. There’s lots of information about this available on the internet, and this short guide is a great place to start.
When we were hunting for our home, we came across a few open houses. For all those homes, we were beaten by other home buyers on the offer. Properties that are well presented at an open house tend to get offers within 24 hours.
Stage your home, remove excess furniture, make it look like well-furnished home to move into. If you contact professional stagers, they’ll do the job for you. Take a good care for the smell inside your home. A better-smelling home tend to command more offer price from perspective buyers.
Cut your costs and increase your profits today with these three top tips. There’s another very effective tip, enhancing your property’s curb appeal. A little money spent on decorating and landscaping outside area could fetch a many-fold return.
Readers, let us know other important tips for selling your property for a bigger profit.