One of the most common misconceptions regarding luxury homes for sale is that buyers are willing pay the full asking price, simply because they can afford to. In actuality, though, home buyers in every market are always looking for grounds to negotiate. As a seller, you need to anticipate how buyers will respond to your listing so you can reduce their negotiating power and increase your chances of receiving the full asking price.
After you’ve determined a fair listing price for your home, there are still a few steps you can take to ensure that the offers you receive are worth entertaining.
5 Proven Steps For Getting The Full Asking Price:
1. Research the real estate market in your neighborhood
One of the most important reasons to hire a neighborhood realtor is to give yourself the advantage of working with someone who can provide insight on the latest real estate trends that will influence your own home sale. Additionally, a realtor who knows your neighborhood well will understand what current buyers in the area are most interested in, and can help you market your property to these buyers effectively.
2. Work on enhancing your home’s curb appeal
Make your home look as inviting as possible to capture attention from your ideal buyers. Remove any built up dirt or algae from your home’s exterior, make sure the landscaping looks healthy and maintained, and keep the yard clear of any debris.
3. Look at your home from a buyer’s point of view and beware of the 3 big issues
From my perspective, and national statistics concur, the three big issues are REAL. From personal anecdotal experience, most buyers are turned away from a purchase decision by odor, clutter, and perceived work that they would have to do! From a consultation perspective, I encourage my sellers to take those issues off the table; after all, they are controllable!
Even if you don’t believe your home has an odor, carefully air out every room for a few hours a day leading up to each showing. It takes minimal effort, but skipping this precautionary step could potentially cost you in the long run. You can also deep clean your home as you air out each room, for added assurance that your home will be shown in the best state possible.
Next, remove as much clutter as you can from every room. It may be worthwhile to temporarily rent a storage space for your belongings so that interested buyers are not distracted and can fully appreciate the space in your home. You may be surprised by how much larger a room looks and feels once it’s been cleared of unnecessary items.
Lastly, look at your home objectively to discourage buyers from arguing that the property needs work. This leads to our next point:
4. Hire a home inspector and invest in any necessary repairs
Hiring a home inspector allows you to become familiar with your property the way an interested buyer would. Many homeowners are simply unaware that their homes are in need of repairs, so asking a home inspector to assess the property will eliminate guesswork and pay off in the long run.
Remember, buyers will always notice the condition of your home, and you’ll leave a much stronger impression when you can prove to buyers that the home does not require immediate work. Careful buyers will first look over your home themselves even before hiring an inspector, so any potential problems that could justify a low bid are sure to be uncovered if you don’t carefully prepare the property.
If you can show an interested buyer the work you’ve recently done on the home, this allows you to prove that the house is a safe investment and well worth your asking price.
5. Work with an experienced home staging expert
Similar to the way you would select a realtor to help sell your home, make sure you select a local home stager who is familiar with your neighborhood and knows how to present your home in a way that will appeal to the types of buyers who will be viewing it.
Keep in mind that not every room will require staging, but those that do must make the right impression. Usually, your realtor will know of a quality staging service, so be sure to ask him or her for a recommendation.
Selling a luxury home near Tanglewood?
As a 2017 top performing realtor and a Houston resident for 30 years, I can help you navigate the local market and sell your luxury home with ease. If you’re a homeowner in the Tanglewood, Uptown, Memorial, or Galleria neighborhood, and need help selling your home, please contact me today!