5 tips for scoring the biggest profit when you sell your home

Estimated read time: 4-5 minutes

Hearing that it’s a seller’s market out there may make you feel like the pressure is off when you’re trying to sell your home. After all, with HousingWire reporting that Utahns are offering anywhere from $10,000 to $60,000 above asking price, you hardly have to lift a finger. Right?

Well, that depends. If your main goal is to simply sell your home, sure — you can do that pretty easily in the current market. But if you’re hoping to score the biggest profit possible, a few simple steps could put tens of thousands of dollars more into your pocket.

Here’s how to do it.

Work with a real estate expert

To avoid all those fees and commissions, many people think that selling a home on their own will help them pocket a little extra cash. But considering that an experienced real estate agent could potentially negotiate tens of thousands of dollars more for you on the selling price, those fees may seem inconsequential.

According to the latest data, working with a realtor is more than worth it. The National Association of Realtors found that homes sold by owners went for nearly $218,000 while homes sold by an agent went for more than $242,000.

Clean inside and out

It may not be fair, but human beings are hardwired to make judgments based on appearances. And considering it’s likely going to be the biggest transaction of their life, buying a home is no exception. As the seller, you want to do everything in your power to make your home attractive to potential buyers. So, that pile of clutter on the kitchen counter and the cobwebs in the corner need to go. You want to remove any messes that might distract them from being able to visualize themselves living there.

And don’t forget about curb appeal! The outside of your home needs to make a good impression. Catch your buyer’s eye with a fresh coat of paint on your front door, some plant life or greenery on the front porch or an updated mailbox.

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Strategically stage your home

Simply having a clean home is only half of the equation when you’re trying to attract potential buyers. Take things one step further by strategically setting up beautiful furniture and lighting to make the setting as attractive as possible. This is known as staging.

In an article for Investopedia, Marjorie A. Cohen writes that staging a home can increase a home’s selling price and the likelihood of it selling faster. The National Association of Realtors reported that in a survey of 4,200 staged homes, 85% sold for 6%-25% more than homes that weren’t staged.

Be aware that staging does come with a price, especially if you end up renting furniture or decorations from a staging company. But the payoff may be worth it! Your real estate agent can help you determine exactly how much staging you’ll need.

Take professional photos

Your iPhone may take decent pictures, but if you really want to reel in the big fish, you’re going to need to invest in some professional photography. (This is especially important given that most people will first view your home online.)

In a 2013 study, Redfin found that professionally photographed homes priced in the $400,000 range sold three weeks faster and for $10,000 more than those with amateur photos. Some real estate agents include professional photography as part of their fees.

Hire a flat-fee real estate agent

Traditionally, you as the seller are responsible not only for your own agent’s fees, but you’ll also pay for the buyer’s agent’s fees. This works out to be about 6% of the selling price. That means that the higher the selling price, the higher your agent fees — despite the fact that it required the same amount of work.

If that seems unfair to you, Homie agrees. That’s why they offer a flat-fee listing service. When you sell with Homie, you’ll pay a flat $3,500 fee — no matter the price of your home. To put that in perspective, you’ll save as much as $22,600 on a home worth $435,000 (which is the median list price in Utah, according to the Utah Association of Realtors). Plus, you’ll get all the same benefits of working with a traditional realtor, including an MLS listing, professional photos, open houses and more.

See how you can save thousands of dollars when you work with a Homie agent. Visit homie.com today!

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