What a time to sell your home in Northwest Arkansas! Demand for housing hasn’t been this high in nearly 10 years. At times like these, it’s tempting to assume you can ask any price for any property, but the market still has its limits and buyers still have their preferences. Here is a list of things to keep in mind when you go to sell your home:
1. A home is only worth what a buyer is willing to pay
Just because a friend or even a real estate agent tells you that your home could sell for a certain amount of money… doesn’t make it certain. The best indicator of current value is to compare your home against several nearby homes sold within the past few months that are the most similar in features and condition. The higher you price your home against that comparative value, the longer it’s going to sit on the market.
2. Upgrades may not increase the value of your home, but they will increase the chance of getting it sold
That new paint and kitchen remodel may have set you back several thousand dollars, but that doesn’t mean it will increase the value of your home such that you see a return on your investment. However, those snazzy upgrades should make your home significantly more attractive to buyers, helping you sell more quickly and for the best price.
3. Cleanliness is next to godliness
The least expensive improvement you can make to prepare your home for sale is a thorough deep-cleaning. Doing things like washing the dust off windows to allow in more sunlight, or removing grime from baseboards and doorways to make the trim look vibrant again, will significantly increase your home’s appearance and marketability.
4. Curb appeal creates the first and strongest impression
We talked about the importance of curb appeal in a previous post. A manicured yard, colorful beds free of weeds, and well-maintained exterior will drive more visitors and prime those potential buyers to take more interest in your home. By contrast an overgrown yard full of weeds can move your home to the “no” column before the buyer even walks through the door.
5. Pet odor and clutter leave the longest lasting impressions
Nothing will instantly repel buyers quite like the smell of animals or their excrement. I cannot stress this enough! You may love your dogs, but that doesn’t mean everyone else will, so do whatever you need to do to keep your furry ones out of sight and smell. Slightly less worse than pet odor is clutter, which prevents buyers from ever feeling at ease or imagining themselves living there, so put away things like laundry, toiletries, knick-knacks, and excess family photos before showing your home.
6. Neutral paint and decor will always appeal to the greatest number of buyers
It may seem boring, but the numbers don’t lie. Unless you are an exceptional interior decorator, going with a neutral color scheme will attract the greatest number of buyers – in part because it allows them to start with a blank canvas and make your home the way they want it, once it is theirs.
7. Cheap repairs and updates will result in cheap offers
If you’re going to update some aspect of your home, do it right. Saving a few dollars buying cheaper (and cheap-looking) fixtures can impact the buyer’s perception of your entire home. They are taking notice of the things they would change and mentally deducting it from their offer. Which brings us to the next point…
8. Buyers notice the things they want to change before noticing any of your updates
Enough said. 🙂
9. Everything is negotiable
Once you have a potential buyer lined up, don’t take a low price offer personally, and remember that there are other areas where you can press your advantage as a seller.
10. Location, location, location
This classic adage remains classic for a reason. A hot location can trump everything else. It’s why a shack on Miami Beach fetches a higher price than a mansion in Missouri. Even within our little corner of the state, this holds true, and within a micromarket like downtown Bentonville, even a few blocks’ distance can mean a $100 difference per square foot.
12. When your home is priced right, it will sell
It’s a mathematical certainty! To find just the right price for your home, talk to one of our agents today.