Sell Your Home for the Highest Price Possible: My Five Point Formula
In today’s hot Northern Colorado sellers’ market, selling a home is easier than ever. Many sellers think that all it takes is taking a few quick photos and throwing your listing up on the MLS. This might be enough to get your house sold, but it takes more than that to sell your home for the highest price possible.
Over the last 6 years, I’ve developed a selling system I call my Five Point Formula for a Successful Sale. This article will break down my formula and show you how to attract qualified buyers ready to make their best offers. I’ve used this formula to sell hundreds of homes, and it will work for you too!
5 Steps to Sell Your Home for the Highest Price Possible (Even in a Hot Sellers Market)
Prepping your Home
Prepping your home for sale doesn’t have to be time-consuming, stressful, or expensive. It’s easier than you think! Honestly, this item deserves its own article. Luckily I covered this topic previously! Check out my last post to learn all you need to know about prepping your home for sale, even if it could sell in a day.
Professional Input on Pricing
Setting the listing price for your home involves a number of factors. As your listing agent, I do a competitive market analysis to see what comparable homes in your area are selling for. But if your home has unique features that are hard to value, some sellers choose to get an appraisal before listing. If you’re not sure what to do in your situation, let’s chat!
Even if you don’t want to get a full appraisal, it’s helpful to have your home professionally measured and mapped even if you think you already know the metrics. Many properties have incorrect square footage listed for tax purposes. For all you know, your home could be larger than you’ve been led to believe! Additionally, potential buyers benefit from knowing the exact floor plans. This helps them visualize how their furniture will fit in the home.
I also recommend in this hot market for sellers to get a pre-listing inspection. The reason why this helps is that if there are things that are seriously wrong with your home, that can cause you to lose your potential buyer later on in the process. If you know before listing your home what the troubling places are going to be, you can either fix them ahead of time or adjust your pricing accordingly. I know a lot of sellers are resistant to this step, but it really does help the transactions go more smoothly down the line.
Another piece of this puzzle is lender sheets. Most buyers don’t have a firm grasp of the monetary requirements of buying a home. I work with my lender to provide financing examples for the most likely buyers, so they know what their payment options might look like over time. More often than not, making an offer on the house seems less daunting when they see the numbers in black and white and they see what the pricing looks like over time.
Poignant Advertising
If you want to sell your house for big money, your home needs to STAND OUT! That’s where advertising comes in. Utilize high-quality photos, purposeful listings, and modern technology like 3D virtual tours. They say a picture is worth a thousand words, but I think it’s worth thousands of dollars!
Anyone can take a decent picture with their phone, so your listing needs to feature professional quality photos if you want to stand out and sell your home for the highest price possible. Your listing should also include a link to a virtual tour. Buyers from out of town want their own version of a ‘walk-through.’ 3D tours build trust with potential buyers because they feel like they can see every part of your home.
Finally, create a listing on my website. The MLS is a great resource, but it only allows you so much freedom. It has character limits and other rules you have to follow. I can create a page on my website that will breathe new life into your listing and serve as your home’s personal website while it’s on the market. You can further advertise on social media and other real estate platforms with this link.
And my final secret weapon when it comes to advertising is using Facebook ads. This gets your home in front of eyes that maybe aren’t searching the MLS. It’s the perfect way to reach people who maybe got distracted from their home search on the MLS or just haven’t spent time on their recently.
Personal Showings + Open Houses
Believe it or not, open houses don’t sell a home. Serious buyers want to schedule a private showing so they can take their time to explore a house without interruption. Open houses are still a great tool. I use them to get direct and honest feedback from buyers.
Moreover, if you use the MLS correctly, open houses can boost the visibility of your home on the apps! Private showings, however, offer buyers an individual chance to see a home. They get to know the ins and outs of the house and can imagine it as their new home.
Home Highlights (Perks)
When someone buys a new house, they commit to more than just a few walls and windows. Create a list of the things you will miss most about your home. This is what the new occupants will come to love the most! Think about what makes your home special. What do you love about the neighborhood? What makes your home particularly remarkable? These details are what sell a home.
Buyers from out of town are particularly interested in learning about the location of your home. They don’t know the perks of your neighborhood, the best way to get to the good restaurants, or what schools are nearby. It would be my pleasure to put together a list of useful maps, local guides, and information on the community so you can show what makes your home desirable aside from the floor plan.
Bonus Material
Have you ever heard of HPAP funds or tax abatement? Using my knowledge of home financing, and loan programs, I can provide potential buyers with insight on ways to make a home more affordable. I’m happy to lend my expertise to interested buyers. With the right information and assistance, their dream of buying your home is achievable. They are more likely to place an offer so you can sell your home for the highest price possible.
I know this all sounds like a lot, but this is what it takes to get the very most for your home. Let me put my formula to work for you! Every item discussed above is part of the services I offer. I’ve used this process on hundreds of listings and it works like a charm!
Stay tuned for next week to learn the nitty-gritty about terms and contingencies that keep you from getting the most money for your home. My article “Beyond the Price, Know the Contract” will also talk about cash offers and why they aren’t always the best.
