- Selling your house is tricky enough, but figuring out how you can save – and make – more money while doing it is even trickier.
- INSIDER spoke with four different real estate agents, who shared their best advice for optimising profit when selling your property.
- Making sure your house is up-to-date and visually appealing is vital.
- Deciding to sell in the spring might get you a higher price, and it’s important that as many potential buyers as possible view your home.
When it comes time to sell a home, apartment, or property, everyone’s mind is pretty much set on the same goal: making as much money as possible. And there are simple steps that sellers can take to ensure they get the most out of their sale.
INSIDER talked to four different real estate agents based in New York to get their tips and tricks for selling your home, and getting the most bang for your buck while you’re at it. Here’s what they said.
1. Spruce up your home’s interior design. Buyers will be more attracted to the property.
“When someone is going to put their property on the market, you want to make sure that particular property has the best visuals when someone walks in, because people usually buy with their eyes,” Anderson Toney, a real estate broker at Compass, told INSIDER.
“Staging” is a temporary solution for those who don’t want to completely revamp their home’s interior, yet still make their property look appealing to buyers.
2. You might want to put your home up for sale in the spring or summer, as prices go up due to heightened competition.
If your impending move isn’t pressed for time, it might be worth it to wait until springtime to put your house on the market, so you can price it at peak value.
“In our business, typically there’s a season frenzy for property in the spring and in the summer because that’s when people really want to move,” Toney said.
David Soltero, a realtor with Brick & Mortar LLC, also believes timing is important.
“Timing and location certainly play a role with profit,” Soltero told INSIDER. “Certain factors, like [state and local taxes] and interest rates, impact buyers and sellers alike. Same goes for inventory … the market has just been saturated with new developments which is causing supply to outweigh the demand.”
3. Make sure the home is up-to-date and fully functioning.
“Depending on the age and condition of the property, it may require some upgrades (minor or major),” James Bowman, partner and president of Genix Group LLC, told INSIDER.
Even updating something simple, like a microwave or a faucet, could pay off in the long run.
4. Don’t empty out your home for a showing. Buyers generally like to see a fully furnished room.
The brokers agree that a furnished room is attractive to prospective buyers.
“A fully furnished property provides a visual appeal and an added incentive to the buyer,” Bowman said.
Furniture can even be helpful, according to Toney, in showcasing the room’s size and capacity.
“That doesn’t mean that your space has to have furniture, but maybe one or two of the bedrooms you furnish so people can get a sense – especially if it’s a super small bedroom, and you wanted to show that a queen size bed could fit,” Toney said.
But it’s important the space doesn’t have too much in it, according to Jeff Putterman, a real estate agent at Beaudoin Realty Group.
“There are certain buyers who need help imagining how the room will look when they move in,” Putterman said. “Fully furnished, as long as it’s not cluttered, is not a problem.”
5. Keep tabs on the real estate market near you by checking out sites like Zillow, Trulia, etc.
“The reality is, right now everything is on the web,” Putterman said. “You want to reach as many people as possible.” Bowman recommends registering on platforms like Zillow, Trulia, or Realtor.com.
“These sites will allow a seller and or buyer to explore their interests and see what’s going on in real estate similar to theirs,” he said.
6. Make sure as many potential buyers as possible view the home.
It seems simple, but it’s key: the more people see your home, the likelier you are to score a sale at the price you desire.
“The most important thing is you want as many potential buyers as possible looking at your property,” Putterman said. “So, then the question becomes how do you accomplish that? Excellent photographs, floor plans that people want now, and fair pricing.”
7. Be logical, that is meet with agents and price your home appropriately.
Before selling, it’s important to price your home according to its market value. This can make or break a sale, according to Soltero.
“I think a common mistake sellers make is over-valuing their property,” Soltero said. “You see that all too often and especially in today’s market. The truth is, the property needs to be represented properly, and that goes for homes, condos, buildings, etc.”
And at the end of the day, there’s one tried and true way to make sure you’ve priced your home accurately.
“It’s important for sellers to meet with prospective agents, so that they can walk you through the selling process,” Soltero said.
- Read more:
- Kylie Jenner is only 21 years old and already building a real estate empire – here’s a tour of her luxurious homes
- Ellen DeGeneres has made millions buying and selling luxury properties – here are some of the most lavish homes she’s flipped
- 11 celebrities you never knew had giant real estate empires
Business Insider Emails & Alerts
Site highlights each day to your inbox.