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How To Sell Your Property For More Money With These Seven Simple Tips

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With so many things to consider, selling your home can be overwhelming. One thing all sellers have in common is a desire to achieve the best price possible for their homes.

But specific steps are needed if you want to fetch a great price on your property. Following our seven steps to sell your property in PEI will not only help your property sell for more but also help it sell faster.

Let’s begin.

1. DO YOUR RESEARCH

To start, it’s important to do your research to get a clear idea of the value of your home. This is an essential step because, without it, you risk selling your property for significantly lower than its market value.

We recommend comparing your property with others in your local area. Look for homes with similar square footage, garden size, number of rooms, and proximity to transport and amenities. Take a look for records of recent sales and compare your home to the properties that have recently sold.

However, remember that the property market can shift at any time, and keeping an eye on how industry trends are affecting your local area is vital. The more volatile the property market, the less you can rely on previous sales in your area as indicators on how much your property is worth now.

2. MAKE ALL NECESSARY REPAIRS

Before purchasing your home, interested buyers will have a home inspector examine the property to point out any needed repairs.

It’s easy to miss a lot of the wear and tear that has happened to your property over the years, but the second you put your home on the market, its condition is put under a microscope. The repairs you’ve overlooked can be deal breakers in whether or not you make a good sale.

If you’re worried about the cost of repairs, keep in mind that the money spent on improvements will be far less than having to reduce your asking price.

Essential items to repair on your home can include:

  • Kitchen appliances
  • Leaking sinks and faucets
  • Stained or damaged walls and ceilings
  • Damaged flooring
  • HVAC units
  • Smoke and carbon monoxide detectors
  • Electrical panel and circuit breakers
  • The roof
  • Outside doors and windows
  • Obvious landscaping issues
  • Broken fencing

If you’re unsure what repairs your home requires, it’s a good idea to consult a local real estate expert before spending any money.

3. FRESHEN UP WITH PAINT

Appearance is everything to potential buyers – and nothing can transform your space as quickly and affordably as a fresh coat of paint.

In fact, giving a fresh coat of paint to rooms that haven’t been painted in years gives them a whole new look. Along with this, newly painted rooms can:

  • Show that your house is well-cared for,
  • Highlight your property’s features,
  • Mean less work for the buyer when they move in,
  • Buyers are less likely to look for flaws elsewhere if they see your property is well maintained

4. NEGOTIATE THE BEST OFFER

It may seem obvious, but it’s worth repeating: When selling a property, it’s never wise to accept a potential buyer’s initial bid if it’s below your asking price.

Buyers will generally expect a back-and-forth negotiation – don’t be afraid of it! This means their initial offer may be lower than your list price, but it doesn’t mean they are unwilling to pay more. This is when negotiations should begin. Another way to negotiate the best offer is to hold an open house after you’ve put your home on the market.

Don’t accept any offers until after the open house. Due to the open house, buyers expect to compete with other interested parties and will place higher, competitive bids to secure your beautiful home.

5. TIME YOUR SALE APPROPRIATELY

Good timing is a big part of making a profitable sale. Property markets change constantly, so it’s important to know the type of market you are selling to if you want to see successful results.

To time your sale appropriately, you need to understand three main property markets:

Buyer’s market: This refers to a market where there is an oversupply of properties for sale, meaning buyers have many options to choose from.
Seller’s market: This is the opposite of a buyer’s market. Few homes are available for sale, and many buyers compete for them.
A neutral market: This is where there is an even balance between buyer demand and properties for sale.

When putting your home on the market, you ideally want to do it in a seller’s market. There is increased competition between buyers, which may mean receiving numerous offers.

6. IMPROVE  YOUR CURB APPEAL

A potential buyer’s first impression of your home is from the outside. This is why increasing your property’s curb appeal is essential to making a good sale. Curb appeal refers to the level of attractiveness a person feels for your property when viewing it from the street.

Enhancing your home’s curb appeal can boost the interest your property receives when it first hits the market.

Tips to give your property curb appeal easily include:

  • Wash the windows and doors
  • up outdoor paint
  • Clean your gutters
  • Hide your bins
  • Weed paths and driveways
  • Add flower boxes
  • Tidy your yard
  • Remove clutter
  • Upgrade your mailbox

7. WORK WITH A PROFESSIONAL REAL ESTATE AGENT

Some property owners believe they can save a lot of money by selling their homes without the help of a professional real estate agent.

However, these individuals don’t consider the amount of effort, time, and cost involved with selling a property.

That’s not to mention the negotiation skills, legal knowledge, and market savviness needed to sell a home for a great price.

Moreover, real estate agents have connections to several buyers who they keep up to date with new listings on the market. Agents quickly spread the news to those buyers about the new properties they’ve just listed for sale.

Even if you believe you have a large network of contacts that will share your listing, this will be a much smaller pool of potential buyers than a real estate agent can offer.

From carrying out repairs and maximizing curb appeal to negotiating offers and hiring a real estate agent – we hope this blog has given you a good insight into the best steps you can take to ensure a profitable sale on your home.

WORK WITH CENTURY21

If you’re looking for a reliable and professional real estate agent to help your property sell for more money – Century21 is the solution.

According to MLS statistics, we’ve been the number one PEI Real Estate Brand for listings and sales for over 35 years! With over 35,000 happy clients in Prince Edward Island and beyond – we’d love to work with you, too.

Reach out today to get started.

Ron Barrett - Century21 Northumberland - PEI Realtor

RON BARRETT

I am Ron Barrett, co-owner and broker at Century21 Northumberland Realty. I and my team of 30+ professional real estate agents would be pleased to help you with all your Prince Edward Island real estate needs. I can be reached at 902.888.7238 or ron@century21pei.com

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