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How To Earn More in Selling Property

Posted Monday, May 4, 2015

Most people who sell property, whether it is their home, a business property or an investment property, want to maximize the amount they make on the sale. There are some key ways to earn more when selling a piece of property.

Get the property ready to sell

Whether you are selling a residential or commercial property, you will attract the best offers by having a property that's in good condition and is ready for a new owner. To get you property into such a condition, you need to thoroughly clean it and make necessary fixes, such as replacing broken window panes, touching up paint and filling in cracks. If you are selling a home, staging it properly by decluttering and removing personal items and knick-knacks helps to make it move-in ready.

Be flexible about showings

When you are trying to attract top dollar for your property, you need to be as flexible as you can to cater to every buyer that comes along. If you only have certain days and times you are willing to show the property, you are going to attract fewer potential buyers and are less likely to get top dollar in your offers. Be willing to show your property whenever asked within reason. Keep it clean all the time, and make arrangements for pets to be somewhere else when you are at work so an agent can show your home on short notice.

Price your home correctly

Many people think the key to earning more from a property sale is to simply set a high price and then negotiate down as needed. While that strategy may occasionally work, more often than not what happens is the high price scares off potential buyers and the property doesn't even get shown. A better strategy is to price the house right around what it is worth or even a little lower. This creates more interest in the house and may generate more bids. Once people start bidding against each other, psychology can take over, as their will not to lose causes them to keep bidding even after the price has gone well above the original asking price.

While following these suggestions will help you maximize price when you sell property, there are other intangibles involved. Market conditions play a big role, for example. It's much easier to sell your house for top dollar when the market is booming and interest rates are low.