How to Market a House
In today’s economy, knowing how to market a house can save you big-time dollars if you choose to sell your home without a realtor. This is because when you sell your home on your own, you could pocket the commission that would normally go to a realtor or you could lower the asking price by up to six percent. There are a number of things you can do yourself that could draw potential buyers to your property.
The following are a few tips on how to market a house:
Set an optimal price:
The National Association of Realtors, states that people often choose a price for their home based on one of three factors: need, ego or greed. Sellers are often looking to put proceeds from the sale of their home towards the purchase of a new property. This means that they often want to price their homes according to how much they need to get out of the sale in order to make that purchase. Additionally, many sellers will have a fixed price or profit that they hope to achieve, however unrealistic.
However, market conditions and other economic factors usually play a much higher part in the ultimate selling price than the seller’s finances. Understanding local market conditions and having the flexibility to adjust based on these conditions will help you set a price that will be seen as reasonable to prospective buyers. Getting traffic to your home is the first step toward making a sale.
Staging your home:
Staging is an increasingly popular marketing strategy for homeowners. Staging could be anything from rearranging existing furniture to repainting, replacing fixtures, and bringing in new furnishings. The goal of staging is to highlight your property’s best features and make it as simple as possible for buyers to envision themselves living there. Proper staging may not only attract more potential buyers: it can also speed the sale, and even increase the price too.
Create a great website to showcase your house:
If your property is not listed on the internet it might as well be invisible. Almost 90% of buyers start their search on the Internet, according to the National Association of Realtors. Make sure your home’s online presence has at least a dozen photos. Zillow.com, breaks this advice down: “When marketing your home online, display as many photos of your property as possible. Help buyers visualize themselves in your space by posting lots of interior shots. Focus on what people care about, namely, the kitchen, living spaces, and even the bathrooms. Make sure to clean up and de-clutter, it’s amazing how many messy rooms are shown in listing photos.” Having 20 instead of five photos could almost double the number of hits you’ll get.
Upgrade your home:
Even if you are a novice with little experience on how to market a house, giving your home upgrades is a great way to increase its attractiveness to all kinds of potential buyers. Simple things like giving your home a fresh paint job, giving your home a deep clean from top to bottom, and replacing old or worn carpets rather than just offering buyers a credit to replace them will help. Replacing appliances is another way to increase your home’s value exponentially.
List special features of your home:
List anything special your home has to offer, such as a deck, a pool, or many bedrooms. Mention the positives about where your home is located, close to transportation, beaches, an arts district, or a top local school. Then target the people who will be drawn to these features. Wording your newspaper or online ads with phrases such as “Secluded Grotto,” or “Urban Oasis” can target those who want a home where they can escape. Targeting workers or shoppers with “Why Commute?” or “Shoppers Delight” can draw in individuals looking at those features in a new home.
These strategies on how to market your house should assist your home-selling experience. For more tips on home buying, selling, refinancing, mortgages, and much more, check out Chicago Mortgage Spot.