Selling Your Home for Maximum Profit: Tips From a Real Estate Agent
Preparing Your Home for Sale
You’ve decided it’s finally time to sell your house and move on to bigger and better things. But how do
you ensure you get top dollar for your property in this hot housing market? As a real estate agent with
more than 5 years of experience, I’ve helped dozens of sellers maximize their home’s value and walk
away with the most money possible. In this article, I’ll share my insider tips to prep your property, price it
right, market it strategically, and negotiate like a pro. With the simple tricks I’ve learned along the way,
you can sell your home quickly and for maximum profit, even in competitive markets. Let’s dive in and
get you the price you deserve!
Pricing Your Home Right in a Seller’s Market
Clean and Declutter
First things first, give your place a deep clean. Scrub floors, wash windows, dust baseboards—the whole
nine yards. A clean home shows much better and makes a great first impression.
While you’re at it, declutter and minimize clutter. Pack up knickknacks, excess decor, and personal items
you don’t need. A tidy, streamlined space will make your rooms appear more open and spacious.
Make Minor Repairs
Now’s the time to fix any little issues around the house. Patch holes in walls, repair or replace leaky
faucets, fix squeaky doors or cabinets—all those minor problems you’ve been meaning to get to. Buyers
will notice details, so make your home look well-maintained.
Stage Your Space
Home staging is key to helping buyers envision themselves in the space. Rearrange and minimize
furniture to open up the floor plan. Add decorative accents like candles, houseplants, colorful cushions to
create an inviting ambiance. Make sure all rooms are well-lit—add additional lighting if needed.
Curb Appeal Matters
It’s what’s on the outside that makes a first impression. Make sure your yard is mowed, raked, and edged.
Plant flowers or shrubs to freshen up your landscaping. Power wash outdoor surfaces like decks, patios,
walkways and siding. Touch up exterior paint if needed. A charming exterior will pique interest in what’s
inside.
With some cleaning, sprucing up, and staging, you can transform your house into a showplace that will
attract top-dollar offers. The effort you put in upfront will pay off when the offers start rolling in!
Working With a Real Estate Agent to Maximize Exposure
In a seller’s market, the ball is in your court as the seller. But to maximize your profit, you still need to
price your home strategically. Price it too high and you’ll miss out on willing buyers. Price it too low and
you’re leaving money on the table. Find the Sweet Spot
A good real estate agent can help determine the sweet spot for pricing your home by analyzing recent
comparable sales in your neighborhood. They’ll look at square footage, number of rooms, overall
condition, and amenities to determine a competitive price range for your property. You want to price on
the higher end of that range, but not exceed it.
Be Flexible
In a fast-moving market, the first offer you receive may not always be the best. As eager as you are to sell,
don’t feel pressured to take the first decent offer that comes in. Let the bidding war begin! With high
demand, the offers will likely continue rolling in. You can then evaluate the best combination of offer
price and buyer terms. But don’t drag it on too long, or you risk the momentum slowing.
Consider Contingencies
A strong offer isn’t only about the offer price. Also consider contingencies like the buyer securing
financing, selling their own home, or a home inspection. Fewer contingencies mean less chance of a deal
falling through. You may opt for a slightly lower offer with no contingencies over a higher offer with
many.
With the real estate market hot, now is an ideal time to sell your home for top dollar. But that also means
navigating multiple offers and determining what really constitutes the best overall offer. By pricing
competitively, allowing bidding wars, and evaluating contingencies, you can feel confident you’re selling
your house for the maximum profit possible. Now go ahead—take that vacation you’ve been dreaming
about!
Negotiating for Top Dollar With Interested Buyers
Once you’ve decided to sell, finding the right real estate agent is key to getting top dollar for your home.
A good agent has the experience to properly market your property and tap into their network of buyers
and other agents. They know how to spread the word that your home is for sale.
An agent will list your home on the local Multiple Listing Service (MLS) and additional listing sites like
Zillow, Trulia, and Realtor.com. This exposes your listing to the largest possible number of potential
buyers. They’ll also take professional photos to showcase your home in the best possible light. With their
connections, they may also advertise your listing in relevant Facebook groups, neighborhood newsletters,
and at local events.
Agents are also skilled negotiators. They can help determine a competitive asking price based on current
market conditions. And when you get an offer, they’ll work to get you the best possible deal. Their goal is
the same as yours: to sell your house for the maximum price in the shortest amount of time.
A good agent knows how to market properties at different price points. If your home is more unique or
high-end, look for an agent experienced in luxury real estate. They’ll have connections with buyers and
agents in that market segment. For a starter or mid-range home, an agent focused on those types of
properties is ideal.
Once you start working with an agent, be prepared for them to swing into action quickly. In a hot market,
the faster and more aggressively a home is marketed, the greater the potential for a bidding war and
higher final sale price. An agent’s job is to generate as much interest in your home as possible in a short
amount of time. Be ready to have prospective buyers viewing your home, sometimes with little notice!
The inconvenience will pay off when you get a fantastic offer and can move on to the next chapter.
Using a Home Appraisal to Your Advantage
Once you’ve attracted eager buyers, it’s time to negotiate the best deal. As their agent, it’s your job to get
your clients the highest price possible. Come Armed With Facts
Do your homework on the property and current market conditions. Know the specifics about the house
like when the roof was replaced or upgrades were done. Check recent selling prices of comparable
properties. The more details you have, the better you can justify your asking price.
Don’t be in a Rush
Even if the buyers make an offer quickly, don’t feel pressured to accept it right away. Tell them you have
other interested parties and will be reviewing all offers. This makes them feel like competition exists,
even if it doesn’t. Give it a few days before countering or accepting their offer.
Start High
When you do provide a counteroffer, go slightly above your target price. This gives you some wiggle
room for negotiating. The buyers will likely come down in their offer, so you want to start from a position
of strength. Make it clear you won’t consider anything below a certain threshold to anchor them at a
higher point.
Consider Terms
It’s not just about the final dollar amount—the terms and conditions also matter. Maybe the buyer wants a
quick closing or is willing to pay cash. These types of terms could justify accepting a lower offer. Or you
might get a higher price by negotiating extras like the buyers covering closing costs or purchasing
appliances. Consider all options to find the best overall deal for your clients.
Hold Your Ground
The buyers may get frustrated if negotiations drag on and issue an ultimatum. Don’t let threats rattle you.
Stand firm in your counteroffers and terms. Their “final offer” often isn’t actually their best offer. Call
their bluff and be willing to walk away if you have to. When they see you won’t cave under pressure,
they’ll likely come back with a better offer rather than lose the deal altogether.
With patience and the right bargaining tactics, you can negotiate the absolute maximum price for your
clients. Stay professional and keep emotions out of it—you have the facts and figures on your side, so
stick to them! Keep an open mind in terms of creative deal terms that could work for both parties too.
And never be afraid to walk away from a deal if the buyers refuse to meet you in a reasonable place.There
are always more buyers, but you only have one chance to get the best deal for this property.
Understanding Seller Credits and Closing Costs
A professional appraisal of your home can be one of the most useful tools for maximizing your sale price.
An appraisal provides an objective estimate of your home’s current market value based on comparable
properties that have recently sold in your neighborhood. Knowing this number gives you a major
bargaining advantage when negotiating with buyers.
Price Your Home Accurately
The appraisal can help ensure you’re pricing your home appropriately from the start. If you price too
high, you risk turning off potential buyers and having your home sit on the market. Price too low, and you
lose out on thousands of dollars during the negotiation. An appraisal gives you a data-driven price range
to work within so you can attract buyers without leaving money on the table.
Be Prepared for Lowball Offers
Unfortunately, some buyers will try lowball tactics to get the lowest price possible. But with an appraisal
in hand, you’ll know the reasonable value of your property. You can then counter their offer armed with
facts about recent comparable sales to demonstrate why their price is too low. This allows you to
negotiate from a position of strength and stand firm on receiving a fair offer.
Qualify Buyers and Their Financing
An official appraisal also helps ensure any buyers who make offers on your home will actually be able to
obtain financing to follow through with the sale. Most mortgage lenders require an appraisal to determine
if the property value supports the loan amount. If a buyer’s offer seems too good to be true, the appraisal
may reveal they likely can’t actually qualify for that amount. You can then go back to the negotiating
table with realistic expectations.
In the end, knowledge is power. A professional home appraisal gives you valuable insight into your
property’s worth so you can market it confidently and get the maximum profit you deserve. Be sure to
consider an appraisal one of the best investments you can make when selling your home.
Staging Your Home to Attract Buyers
When selling your home, one of the final steps in the process is negotiating seller credits and closing costs
with the buyer. As a seller, offering credits and covering certain closing costs for the buyer can make your
property more attractive and help finalize the sale. However, it also reduces your net proceeds from the
sale, so you need to go in with a strategy.
Determine Your Priority
Do you want to maximize your profit from the sale or facilitate the closing? If profit is most important,
limit the credits and costs you’re willing to cover. If ensuring the sale closes quickly is top priority, you
may need to be more flexible. Discuss your goals with your real estate agent to determine a reasonable
range for negotiation.
Typical Closing Costs
While closing costs vary, common fees include:
– Appraisal fee: The cost for the buyer to appraise the property. Usually a few hundred dollars.
– Title fees: Includes title search, insurance, and conveyance. Can be $500-$1500 total.
– Transfer taxes: Varies significantly based on location. Could be a percentage of the purchase price.
– Lender fees: The buyer’s lender will charge various application and processing fees. Around
$1000-$3000.
Negotiating Credits and Costs
Once you have an offer, work with the buyer to determine how much, if any, of these costs you’re willing
to credit them. You may be able to split some costs 50/50 or credit a flat amount, e.g. $5000. Be willing to
compromise to keep the deal together, but don’t feel obligated to cover all costs unless absolutely
necessary.
With the help of your agent, you can navigate seller credits and closing costs to balance your priorities
and facilitate a smooth closing. While it may reduce your proceeds somewhat, strategically offering
credits and covering select fees is often necessary to finalize the sale of a home. Stay within your
predetermined range, but remain flexible, and you’ll maximize your profit and get the deal done.
Moving Out and Preparing for Closing
To get top dollar for your home, staging it properly is key. Make your place shine so buyers can see its
potential. Focus on decluttering, cleaning, and enhancing flow and lighting.
Declutter and Clean
Go room by room and get rid of excess furniture, knickknacks, and clutter. Have a garage sale or donate
unneeded items. Clean everything thoroughly—floors, windows, baseboards, appliances, you name it. A
clean, uncluttered space will make your rooms appear more open and appealing.
Enhance Flow
Consider rearranging furniture to open up the space and create a smooth traffic flow between rooms.
Remove any furniture blocking windows or doors. Make sure pathways are clear and inviting. A good
flow will make your home feel more spacious.
Improve Lighting
Maximize natural light by opening blinds and curtains during showings. Add task and accent lighting as
needed to brighten dark spaces. Install higher wattage bulbs where appropriate. Good lighting makes a
space feel more welcoming and helps buyers appreciate your home’s best features.
Focal Points
Create focal points to draw the eye, like a bouquet of fresh flowers on the dining table or an artful
arrangement on the fireplace mantel. Consider painting an accent wall in your living room or entryway.
Focal points give a space personality and help make memorable impressions.
Curb Appeal
Improve your home’s curb appeal—its exterior appearance. Mow the lawn, rake leaves, add mulch to
gardens, paint the front door, install stylish house numbers, add potted plants. Curb appeal is important
since it’s the first impression buyers get of your property. Make it count!
Staging your home strategically will help buyers visualize its potential and hopefully inspire a great offer.
Take the time to declutter, clean, enhance flow and lighting, create focal points, and boost your curb
appeal. The effort will pay off when you get top dollar for your place!
Real Estate FAQs: Answering Common Questions on Selling Your Home
The moving out process can be bittersweet, but staying focused on the closing will make it easier. Six to
eight weeks before closing, start packing up belongings you don’t use often. Go room by room so you’re
not overwhelmed. Ask friends to help pack and clean in exchange for pizza and drinks.
Have a yard sale or donate unwanted items to clear out clutter. The less stuff you have to move, the
better. Get estimates from moving companies and book one at least a month in advance. Make sure they
are properly insured in case anything breaks in transit.
Two weeks before closing, start cleaning the house thoroughly. Scrub floors, clean windows, dust
baseboards, wipe down cabinets, and clean appliances inside and out. A sparkling home will make a great
final impression on buyers and help you get the best price.
Have the movers pack up and collect the rest of your belongings two to three days before closing. Make
sure to pack necessities you’ll need until closing day. Once the movers leave, give the house a final sweep
to ensure nothing is left behind.
On closing day, do a final walk through with the buyers to make sure all is in order before handing over
the keys. Take a moment to reflect on the memories you’ve made in your home. Though it’s hard to say
goodbye, the profit from the sale will give you financial freedom to start a new adventure.
Closing on a home is a complicated process with many steps to keep track of. But staying organized,
keeping the end goal in sight, and maintaining a positive attitude will help make selling your place as
painless as possible. The reward of a successful closing and a check in your hand will make all the effort
worthwhile. Best of luck and happy moving!
As an experienced full-time Luxury & New Construction Realtor, servicing the state of
Massachusetts; it will be an honor to support you to buy your first home. Whether as a first time
homebuyer, investor or a dream home-builder; my team and I can support you to navigate the
home buying process seamlessly.Visit www.kimberlyadegokehomes.com to learn more.