From Seattle to Austin, home prices have declined up to 47% in several metros. By the end of 2023, you might have to settle for a much lower selling price. But, you can maximize your net proceeds with timeless home selling tips that work in every market.
We have researched the most powerful real estate tips for sellers that will help you sell fast and maximize your net proceeds.
⚡ 4 Powerful Tips to Sell Your Home
- List on MLS: MLS is the most powerful tool for home sellers. It gives you maximum exposure to home buyers and buyer agents. More exposure means more competition and a higher sale price for you.
- Price Your Home Competitively: Pricing your home right is probably the single most important factor in selling your home fast. Pricing too high means more days on market. Pricing low means multiple offers and a bidding war.
- Get Professional Photos: 90% of home buyers search for homes online. You are competing for clicks on Zillow and Houzeo. Get pro photos done – more clicks online means more showings and more offers!
- Offer a Competitive Buyer Agent Commission: We hate commissions. But you can make buyer agents work for you by paying them a commission. Check with local realtors what a competitive commission is in your area.
1. Know Your Options
Gone are the days when selling your home meant interviewing hundreds of agents and paying 3% in listing commissions. Today, some of the best FSBO sites and advanced brokerages will help you sell your home at lower commission rates.
Depending on how much money you want to shell out on commissions, you have 3 options to sell your home:
- Sell Your Home on a For Sale By Owner Website: The best FSBO sites allow you to leverage technology and save thousands in agent commissions. You get to retain control of your transaction by engaging with the buyers and buyer agents directly. FSBO sites will also list your house fast, typically within 24 to 48 hours.
- Sell With a Discount Real Estate Broker: The best discount real estate brokers offer all the services of a traditional Realtor but at discounted rates. They usually charge 1.5% to 2% commissions or a four-digit flat rate.
- Sell With a Full-Service Realtor: We do not recommend hiring a full-service agent. They charge a hefty real estate commission of 5% to 6% which will lower your net proceeds significantly. However, if you’re a new home seller who needs hand-holding at each step, opt for local real estate agents near you. A local real estate agent’s expertise will help you sell faster and for the best price.
✍️ Pro Tip: Sell Your Home to a Cash Buyer
Cash home-buying companies typically offer 50% to 70% of a property’s Fair Market Value. They majorly deal in distressed and rental houses.
» Companies That Buy Houses for Cash: Check out our rankings of the best cash home buyers.
2. Clean, Declutter, and Make Improvements
Before you list your home for sale, make sure it’s ready for photography and showings. A well-maintained home can sell for 10% more than an average home.
This doesn’t mean that you need to undertake projects that will burn a hole in your pocket. Here are a few home-prepping tasks you can DIY at affordable rates:
Deep Clean Every Nook & Corner
Your home should be spotless before you put it on the market or show it to potential buyers. Scrub, shampoo, wash, and deep clean every corner of your house. You can even consider hiring professional cleaning services that charge $30 to $50 an hour.
Declutter and Depersonalize Your Space
Tidy up your place and keep the surfaces clean – coffee tables, countertops, uncarpeted floors, etc. Keep trash cans, dirty dishes, and towels, away. Rearrange the furniture to make your home look more spacious.
It’s important for a buyer to see themselves living in the home they buy. Remove personalized items such as photos, keepsakes, fridge magnets, and more.
Invest in High ROI Improvements
Some home improvements fetch returns more than others. Examples of high Return On Investment projects are:
- replacing your garage door that can offer an ROI of up to 102.7%,
- installing LED bulbs that can get you a 1.9% premium,
- installing heated flooring that can add up to 2.4% premium, and
- upgrading the insulation that can offer up to 100% cost recovery.
3. Improve Curb Appeal
You can create a great first impression by improving the curb appeal of your home. 97% of real estate professionals believe curb appeal is important to attract buyers. But did you know it can also increase your property’s value?
According to a study, improving the curb appeal can increase your property’s perceived value by 5% to 11%. Even a small investment in lawn care service can yield an ROI of up to 217%.
4. Hire a Professional Photographer
Professional real estate photos are a good way to create a great first impression. 90% of home buyers search for properties online. If your listing photos pop, it can convert to more clicks online, translating to more showings and offers.
Here are the types of real estate photography you can opt for:
- Standard Professional Real Estate Photography: It involves a professional photographer taking pictures of your property to sell and market it better. Professionally photographed homes sell 32% faster. The average home seller spends $110 to $300 on professional real estate photography.
- Aerial/Drone Photography: Aerial photography allows you to showcase your home from above and create various perspectives. For example, buyers can see neighborhood angles, nearby landmarks, etc. With aerial photography, you can sell your home up to 68% faster than houses with standard photographs.
- Real Estate Videos: A real estate video can provide a good overview of your home. Additionally, you can showcase your property to potential buyers located far away. Property listings with a video can get sellers 403% more buyer inquiries than those without them.
- 3D Virtual Tours: Property listings with a virtual tour get 40% more clicks than those without virtual tours. Virtual tour packages range between $135 and $800.
» Real Estate Photographers: Check out our rankings for the top-ranking real estate photographers.
5. Price Your Home Competitively
Listing price is the single most important factor that will help you sell your house quickly. Whether you’re working with an agent or selling without a realtor, the listing price is crucial for attracting a wide pool of buyers.
REMEMBER! The purpose of the LIST PRICE is to DRIVE TRAFFIC to your listing. It’s not your SALE PRICE!!!
If you price your home too high, you risk it staying on the market for too long. Few things hurt a home sale more than a stale listing.
There is however fewer downside to pricing your home for sale a little lower or just at the right price. Competitively pricing your home for sale will drive foot traffic and offers. If you price it too low, you’ll likely receive multiple offers and sell at the market price.
» How to Price Your Home for Sale: 6 steps to nail down your list price!
6. List on MLS
MLS is the most powerful tool to market your home. With an MLS listing, your house can sell for about 17% more. Not just that, nationwide buyer agents can view your listing and make offers. Your property listing also gets syndicated to 100+ real estate websites such as Zillow and Realtor.com.
Typically, sellers work with Realtors to get on the MLS and pay 3% commissions. However, with Flat Fee MLS companies like Houzeo, you can list your home on MLS for a flat fee.
» Flat Fee MLS: Houzeo’s MLS listing plans start from $349 and get you listed within 48 hours.
7. Offer a Competitive Buyer Agent Commission
According to NAR’s home buyer statistics, 86% of buyers work with an agent to buy a house. After your property is on MLS, buyer agents can see it directly. Also, the MLS allows you to incentivize buyer agents. Naturally, an attractive commission will encourage buyer agents to show your house to more potential buyers.
The typical buyer agent commission is around 2.4% to 2.5% throughout the US. And it varies across states. Find out the current real estate commission rates to incentivize the buyer agents correctly.
8. Use Showings and Offer Management Tools
With the correct marketing strategy, you should have showings requests and offers come your way.
In a traditional home sale, an agent will manage showings and negotiate with the buyers for you. However, if you are selling your home FSBO, you are all on your own. Some high-tech FSBO companies like Houzeo have their own showings and offer management tools.
With Houzeo Showings, buyers and buyer agents can request a showing time that you can accept or reject. The tool also provides features like requesting, rescheduling, updating, and canceling showings. With Houzeo Offers, you can make counter offers, call for the best offer, and a lot more.
» Tips for Selling Your Home By Owner: Discover the top tips to sell your home by owner in any type of market.
9. Offer Concessions, If You Can
Experts predict that 2023 to be a strong buyers’ market. Offer seller concessions to make the deal more attractive to home buyers. Also, knowing what seller concessions you are (or aren’t) willing to offer will help you negotiate better.
Here’s how you can offer seller concessions:
- Cover some of the buyer closing costs.
- Be flexible on the closing date.
- Accommodate some repair requests while selling your home as is.
- Be compliant with the move-in/move-out timeline of home buyers.
The Bottom Line
Experts predict 2023 to be a buyer’s market. Homes are spending more days on the market. Implement the above-listed home selling tips to sell fast and for more profit in the cooling housing market.
Focus on creating a great first impression. You can invest time and resources in enhancing curb appeal and making minor repairs. Opt for professional photography and offer a competitive buyer agent commission to make your listing attractive.
Work with a Flat Fee MLS company like Houzeo to save thousands in listing commission. With Houzeo, you can get on the MLS within 48 hours at $349. Combine the home seller tips with an MLS listing via Houzeo to sell fast and for maximum profit.
Eager to Know More About Houzeo?
We’ve got you covered. Check out the following video to understand why Houzeo is one of the best For Sale By Owner websites in the U.S.
What is Houzeo?
An overview of what the platform is all about
» NEED MORE CLARITY? Read these exclusive Houzeo reviews and learn why it is one of the best FSBO sites in America.
FAQs on Tips on Selling Your Home
1. How to get the most out of selling your house?
The following tips for home sellers will help you make the most out of selling your house:
1. Hire a professional real estate photographer
2. Price your home competitively
3. List your home on the MLS
4. Offer a competitive buyer agent commission
Discover more tips for selling your house fast and for more money.
2. What should I improve in my house before selling?
Home sellers should deep clean and depersonalize their homes. Additionally, you can invest in high-ROI home improvement projects that can help attract high-valued offers. Check out some of the most high-yielding home upgrades you can work on.
3. How to stage your home to sell for top dollar?
Home sellers can DIY the process of staging their homes with several home staging resources available online. Or you can work with professional home staging companies. A staged home can attract offers of 1% to 5% more than the asking price. Check out our rankings of the top home staging companies.
4. What should I remove from home when selling?
Remove all the elements that personalize your home aka depersonalize. Remove personalized items such as photos, keepsakes, fridge magnets, etc. Also, get rid of items such as dirty laundry baskets, and trash cans, that can make your home look less appealing.