Selling a Home for Maximum Profit

By ROBERT RADCLIFFE | Special to the Palisadian-Post

Selling your home can be an exhausting experience. If you are not completely prepared, you could end up losing tens of thousands of dollars in profit. The difference between a profitable smooth transaction and miserable experience is often a fine line.

In the majority of cases, it comes down to the subtle know-how of your professional. By utilizing the knowledge of a qualified real estate consultant, you’ll ensure the quick, profitable sale of your home. This article is designed to arm you with the knowledge to sell your home for maximum profit.

1. Make profit-inducing repairs. More often than not it costs you more money to sell ‘as is’ than to make repairs that will increase the value of your home. Even minor improvements can often yield as much as three to five times the repair cost at the time of sale.

An experienced real estate agent will be able to point out what repairs will significantly increase the value of your home.

2.  Provide easy access for showings. Accessibility is a major key to profitability. Limited showings are the most restrictive. However, there are certain considerations to take into account, including your lifestyle, your time frame for the desired sale and your relationship with your agent.

The more accessible your home is, the better the odds of finding a person willing to pay your asking price. You never know if the one that couldn’t get a viewing was the one that got away.

3.  Use innovative methods to sell your home. The agent who is innovative and willing to offer new strategies of attracting homebuyers will always outperform agents who rely solely on traditional methods. Demand massive market exposure, innovative lead generation methods and lead follow-up accountability.

These services are typically best offered by agents with teams that support the agent in supporting you with the myriad details needed for an effective and profitable home sale.

4.  Sell at the right time. The same way stockbrokers follow stock market trends, professional real estate agents continually follow trends of your home market. They will know if the market cycle is poised to net you the most money.

5.  Don’t waste time with an unqualified prospect. Your agent’s responsibility is to screen a prospect’s qualifications before valuable time is lost. Be sure to align yourself with the right professional and eliminate negotiating with unqualified prospects.

6.  Don’t test the market. Never put your property on the market unless you are serious about selling. It may be remembered as a home that didn’t sell, which can tarnish its appeal later on when you really do want to sell it.

7.  Be a part of the team. Take an active role with your agent to see what you can do to facilitate your sale. Networking with professional peers and personal friends via Facebook or other social media methods often results in the sale of a home.

We sincerely hope you find these tips and ideas of value. If you are interested in selling your home, it would be a privilege to assist. Contact Robert Radcliffe of The Radcliffe Group at Sotheby’s International Realty 310-255-5454. Credentials and helpful real estate videos at www.robertradcliffe.com.