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When selling your home, even small decisions can significantly impact whether you sell quickly for a good price or let your home linger on the market and lose value. From my recent listings, I’ve identified three key strategies to help your home stand out and attract buyers, ultimately leading to a quicker sale and a better price.
1. Pricing below market for maximum returns. This pricing strategy is effective if done right. Recently, we had a seller whose home was comparable to others in the area and sold for around $600,000. Instead of listing at that price, we advised them to go slightly lower to $580,000. Pricing just below market value creates urgency among buyers and triggers a bidding war.
Multiple offers came flooding in, and we reached the final sales price of $620,000, which was $20,000 over market value. By pricing smartly, we attracted more interest, drove up the competition, and, ultimately, the payout.
2. Ignoring professional advice and making costly mistakes. Not every seller follows recommendations, and that’s where things go wrong. We recently worked with a seller who listed their home at $360,000 despite our recommendation. We believe investing in small renovations could have boosted the home’s appeal and value. Unfortunately, instead of following our advice, they spent $8,000 on low-quality upgrades, making the property harder to sell.
As a result, they lost over $25,000 from the home’s current market value. The lesson is to trust your agent’s expertise, especially regarding home improvements. Cutting corners or ignoring professional guidance can lead to unnecessary expenses and even bigger losses.
3. The importance of the seller’s due diligence. Buyers will get inspections, so why not exercise due diligence and be proactive about potential issues? It gives you control over the process and helps prevent surprises.
In one case, we strongly recommended that a seller get a termite inspection before listing. Unfortunately, they decided against it, and when buyers came in and conducted their inspection, they found a termite infestation. Because most contracts give buyers the right to cancel based on inspection findings, they pulled out of the deal entirely worried about structural damage caused by termites.
Identifying problems early lets you fix them on your terms, or at least disclose them upfront, whether termites, plumbing issues, or anything else. Either way, you’re in a stronger position to negotiate and close the sale smoothly.
Selling a home is all about strategy, preparation, and knowing how to play the game. If you want to discuss your home’s value and what strategy would work best for you, let’s connect. You can contact me at (609) 954-5206 or sprettyman@luxphg.com. You can schedule a 30-minute consultation with me, and we can go over how to position your home when you’re ready to sell.
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