Are you getting ready to list your home for sale? Spring is right around the corner, and 77 Great Estates felt it was their duty to help you in a successful sale of your home. And to do this, it's important to start the process right at the beginning to achieve the best result. Like many sellers, we’re sure that you want to make certain that you’re getting the highest price potential, in the shortest time frame possible, and obviously with the least amount of problems imaginable.
Whether it’s listing the home you bought when you first got married, a rental property that you just bought a few years back or even the place that you’ve called home for the past couple of decades, trust us when we tell you that it’s essential to follow these 3 golden rules when selling your prized possession.
Rule #1 – Prepare your home for sale
One of the most common mistakes sellers are guilty of is that once they’ve decided to list their home, they don’t make sure their home is actually ready to list, and whether it will appeal to buyers. Thus, it’s important to take some time to spruce up all the spaces in your home, especially the kitchen, master bedroom and bathrooms. A fresh coat of paint and a bit of gardening can do wonders for your home's appearance.
All of those minor repairs that creep up over the years should be taken care of. Superficially small repairs, such as leaky tap, faulty windows and doors and chipped bathtubs are all things that can appear as larger than life to buyers. Sometimes a small €500 fix can end up costing a seller much more in the long run.
It’s these seemingly little things which add to that make or break first impression to a potential buyer. If your home isn’t properly maintained, this may give off the idea that perhaps your home isn’t as well-kept as it should be. It’s also imperative that your home is spick and span, remember, now is your time to shine.
Consider bringing in professionals if the job feels like an tiresome task or you just aren’t sure where to start. Sometimes it takes another set of eyes and an extra pair of hands to bring fresh perspective. If you have pets, make sure you have the carpets cleaned. Nothing turns off a buyer more quickly than a musty smell or dirty floors. A Buyers perception of your well maintained, clean, warm and inviting home will translate directly to their perception of the value of your home.
Rule #2 – Set the right price
The second rule of thumb is setting the right price. Unfortunately, countless sellers naturally gravitate towards setting price at a rather high figure. Sellers tend to overprice their home when they overestimate its value. While it might seem like a good idea to set the price higher, nothing could be further from the truth. By setting the price too high, you’re risking the loss of buyers that might have come to see your home, if it had been properly priced. Moreover you also risk having your home shown as a means to showcase value in lower priced similar homes. Setting the list price too high costs you as a seller in the long run, as days on market drag on buyers automatically start to wonder why your home isn’t selling as quickly as others.
Similarly, setting the list price too low in hopes of bringing in multiple offers can also be a treacherous path to tread. If the list price is obviously lower than similar properties would indicate, buyers will perceive the price as ‘too good to be true’. They might thing that there’s some hidden catch or potential issues with the home, even though in reality it’s not the case.
Rule #3 – Have a Marketing Plan
Simply posting a "For Sale" sign on your window or house’s façade in the hope that buyers will stop by, is simply not enough. The importance of marketing your home cannot be underestimated. Granted, you can have your home as well prepared and properly priced as you deem fit, but if you aren’t working with a real estate agent such as 77 Great Estates, it’s futile. You need professionals who can provide you with a solid marketing plan, advertising your property online yourself and hoping for the best simply isn’t going to cut it.
A concrete marketing plan entails defining who’s most likely to be interested in your home, then developing a marketing scheme explicit to that target audience. When speaking to our real estate agents, ask for information about their marketing strategies, and how they would plan to market your home. This will ensure maximizing your home’s publicity, in the right places and to the right people, using suitable channels.
At 77 Great Estates, our goal is to help you sell your home quickly and for the best price conceivable. After all, we understand that this has been your biggest investment to date. With spring home selling season is in full swing, our expert agents would love to help you make the most of this property market in Malta and Gozo. Contact us today to start working with one of our agents to sell your home!