If you are selling a home in Mahtomedi, MN and this is your first time as a home seller, the good news is that you have no previous experiences to compare this to. That’s good news because all your previous experiences would have had very little bearing on what it’s like to sell a home in today’s market.
Hmm. I said “good news”, right? Well, maybe “real news” would be more accurate. There’s no point in pretending that it’s easy to sell a house today. Sellers have to work harder to make their house stand out from the pack, and in many cases must be prepared to not make the profit they initially hoped to make on it. Here are seven tips for today’s first-time home seller:
1. Be Realistic with your Price
Trust your real estate agent when they tell you what your home can actually sell for. And don’t price it high to start and then come down later – price it competitively from the beginning. As the article says, most of your showings will happen in the first few weeks that your house is on the market. You want to capitalize on those critical first weeks by putting your best price forward.
2. Be Prepared to (Gulp) Lose Money
No realtor wants to say those words, but it is true that your home is worth exactly the amount that a buyer is willing to pay for it. There are smart things you can do to add value to your home, but the reality is that you may not see your assessed value reflected in your sale price. Study the sale prices of the homes in your area, not what they were initially listed at.
3. Promote Smart
If your Mahtomedi home is your starter home, it’s perhaps a smaller property and would appeal to younger people or retired couples. Market accordingly. Talk to your realtor about how and where they list your house, and how they plan to reach your target market.
4. Throw in Extras
Weigh the hassle of moving some of your larger appliances or custom items against the potential to attract a buyer with them. In this tight market, a top-of-the-line TV might be the thing that pushes one home to the top of someone’s list.
You’ll hear this word a lot. That’s because it’s vital, and most sellers don’t do enough of it. Remove as much as you can physically remove from your house and still be able to live in it. Clear as much off your counters as you can. If you have a small house, this is even more important, as your house can feel cramped and clutter more easily.
6. Make it Turnkey
It’s huge for your home to feel ready-to-move-into. With so much competition, you don’t want the thing that prevents your home from selling to be the fact that you didn’t paint or replace carpet.
Most buyers are lazy. The last thing a new homeowner wants is another ‘to-do’ list, Ramsey says. So get the home move-in ready before it hits the market so the buyer can start fresh easily.That means making all the repairs and replacements that you would demand if you were buying the house today. If you have to walk single file up the walkway, trim the bushes. If the garage door is dented, have that fixed or replaced, Ramsey says. “If you go into a room and say, ‘Hmm, I wonder if this carpet is dirty enough to replace?’ You have your answer,” he says.
7. Spend Your Upgrade Money Wisely
Before you invest thousands of dollars in a brand new foyer, find out what upgrades will yield the highest returns. This may vary by area, so it’s important to have a real estate agent who is very familiar with the area.
It’s not an easy time to be selling your Mahtomedi, MN house. Be realistic and smart about how you position it among the competition. Do everything you can to get your house in the best condition possible, and then aggressively and strategically market it to the right people. It’s not your father’s real estate market.