Don’t worry, it’s not too late to list your home in 2021!
Perhaps the current frenzied state of the National real estate market has you considering selling your home sooner than expected. Rest assured there is still plenty of time in the season to capitalize on what has become one of the most favorable Seller’s Markets in recent memory. Let’s talk about how to get that done…
Step 1: Contact a licensed Real Estate Professional
Have you ever considered representing yourself in court? Didn’t think so. Even if for some reason you happened to have an old law degree collecting dust on the wall from 30 years ago, I imagine you would hire a practicing attorney to help you navigate a large lawsuit. Now, consider why that is… The risk simply doesn’t outweigh the benefit, right? The same holds true in a real estate transaction.
A professional agent can help you navigate the end to end process of listing and selling your home with confidence and ease, while netting you the most money, because this is their specialty. Consider your Realtor your insurance policy, protecting you from costly mistakes and potential legal issues down the line.
According to the National Association of Real Estate Brokers, 8% of Home Sales in 2020 were sold as a “For Sale By Owner”. The typical For Sale By Owner property sold for a $218,000 whereas homes sold by agents sold for $295,000. That means homes sold by agents sold for 25% more than homes sold by their owner. If you factor in the national average 5% total commission for both sides, that is STILL a 20% increase in profit.
2. Start tackling small repairs and projects
The best way to sell your property for the most money, is by capitalizing on your one opportunity to present it to the market. The more you can get accomplished ahead of listing time, the more likely you’ll sell for more.
Your Realtor can help you determine what projects you should address around the house . A well networked agent can also point you to their trusted list of vendors, often times at competitive rates.
When determining considering home repairs, the rule of thumb is, if it’s the repair costs under $100, it gets a green light. If not, consult your realtor to ensure that you’re putting your hard earned dollars to work for you. The goal isn’t to get a dollar for dollar return on your repairs or upgrades, but rather a 10 to one ROI.
Once you’ve addressed necessary repairs, move on to updating your surfaces. Paint is a low cost investment with a high value return. If you can’t afford to hire a professional, that’s okay, you can always do it yourself. Fresh carpet, or new flooring also had a substantial impact on buyers. When making design choices, be sure to shy away from overly trendy colors and styles, and opt for classics and neutrals, or at the very least choices that are consistent with the aesthetic of your home.
3. Upgrade Your Yard
Now that many of us have experienced a government mandated shutdown, we’ve all come to appreciate our home and private space more than ever. The yard or patio has become just as valuable as a room in your home. If there are ways to improve the functionality of your yard or outdoor space, and provide the perception of a low maintenance environment, get to work. This means punching up your outdoor lighting, pressuring washing patios and concrete, adding privacy screens, and fresh bark or mulch and staining exposed wood.
If planting flowers and trees is needed, it is especially beneficial to get started as soon as possible. Take advantage of the season and plant desired flowers and trees accordingly. Plants and foliage have the best change of thriving when they are cared-for over time.
4. Declutter and Remove Personal Items
Buyers are not interested in seeing reflections of you, within your home. Instead, they wish to imagine themselves living there. Decluttering can mean a variety of things such a removing items from closets and cabinets, minimizing surface items on countertops, shelves and furniture and removing unnecessary furniture and children’s toys all together.
Personal items such as photos, trinkets and mementos should be removed from your walls as well. These walls can be filled with neutral art if you elect to stage in the future.
Utilize your home storage space wisely and neatly. Refrain from stacking items in front of systems and appliances as will need access to them.
5. Deep Cleaning
Don’t underestimate the value of a clean home. Buyers often prefer a more dated home that is “move-in ready” and perceived as well maintained and clean, over an upgraded but dirty and tired property.
Hire a professional cleaner and be sure to request that they dust everything from the ceiling down. Light fixtures and molding collect plenty of dust and should be carefully cleaned. Working top to bottom, your cleaner should thoroughly wipe down molding, walls, baseboards, behind furniture and appliances. Sweep, vacuum, mop and professionally clean carpets.
In the kitchen organize the refrigerator and panty, and clean the hood vent well, and be sure all grease and cooking residue is thoroughly eliminated.
Snake bathroom drains, and clean well around toilets and fixtures. There are products your cleaner can use to make toilets, sinks and showers shine. Use specialized cleaning products to remove mold and mildew as well. Hazy shower doors and dirty tracks can also be scrubbed to ensure no foul odors or unsightly dirt remains.