If you want to sell a home for over asking, it doesn’t necessarily boil down to luck, timing, or even location, location, location. Below are some proven techniques Realtors used to help home sellers get profits well above their expectation.
Aim low in order to go high
Price the property roughly 5% below the current market rate to generate immediate interests from buyers. This is a sure way to generate traffic to the property and give buyers a chance to fall in love with the home, when a higher listing price might have turn them off initially. Not only does it get more people in, but once the buyers see the place, they’re more likely to offer over the purchase price, which often leads to bidding wars.
While pricing your home a bit below what it’s worth may seem counterproductive, sellers who take this leap of faith are often rewarded in spades. After all, a bidding war is a surefire way to push your home’s price over asking, and you can’t have a bidding war without multiple buyers. So price your home conservatively to up the odds that it will rise exponentially.
Make your place stand out
In a competitive market, it’s important to make your home stand out by doing some updating such as new painting, and resurfacing the kitchen cabinet. Although this can lower your profit, but it could also be a way to help your home shine in a lackluster market—and possibly get more money than you would have otherwise. Just make sure to pick renovations that offer a high return on investment, like resurfacing the kitchen cabinet and upgrading the entry door. See our list below for all the home improvements that pays off.