When it comes to selling a home, a hot real estate market may seem like a dream come true. Low inventories often means that many homes are purchased within a few days of listing and that they receive offers at or above listing price. In these markets that move at a lightning pace, many homeowners are tempted to list their homes as is. While it is possible to make a good profit by doing this, it will likely not net the homeowners top dollar for their property. Here are a few tips for selling a home for maximum profit in a fast moving market.
Stage The Home
One of the best things about selling in a hot market is that it's not necessary to undergo large scale renovations before selling. In many cases buyers will accept the home without any changes, especially if the home is in a high demand neighborhood. However, staging is something that homeowners should consider. A neat, orderly home with nice furniture is going to sell better than a messy home with poorly placed furniture. Staging the home can bring out its best features and help sellers get the most money for their property. Professional home stagers charge between $100 and $150 per hour. However, the price is often worth it since staging can bring in more money from the sale.
Have The Home Appraised
Whenever a real estate market becomes a seller's market, many homeowners are ready to make a big profit when selling their home. However, it's important to manage expectations. Getting a home appraisal will ensure that the home is being listed at the right price. If the offer price is much higher than the home's appraised value, the potential buyer may not be able to secure a loan. A home appraisal costs between $300 and $400 and can help ensure that the homeowner's are listing at a reasonable number.
Hire A Real Estate Agent
While it may be tempting to list a home as a for sale by owner property, hiring a real estate agent, such as the ones at RE/MAX INLAND EMPIRE, may be a better option. Real estate agents are better able to market a home and can bring more potential buyers to the property. The average commission for a real estate agent is around 6 percent of the sale. While many homeowners are reluctant to hire a real estate agent, there's a better chance that a professional can find a buyer that will pay top dollar for the home.
Seller's markets are a dream for anyone looking to sell their home. However, even in hot markets it can be difficult to get top dollar. Homeowners should consider staging their homes, getting a home appraisal, and hiring a real estate agent.