How are we able to consistently sell homes for up to 18% over the market average? Here are the first two steps.
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How can we sell your home for 18% more money on average? I know it sounds like a bold claim, but over the next few videos I’ll walk you through the process to show you exactly how we do it.
This process was developed between 2011 and 2013 when I worked with an investor client to buy, sell, and remodel over 150 homes. The investor wanted every last drop of equity out of his homes, so it was my job to look at all the houses and find all those little details that could affect the final sale price of the home. This experience led me to develop this time tested and proven system. There are five main areas we focus on. Today we’re covering the first vital step.
So what is the first step in this process?
1. The preparation of the home. Homes that are prepared well for the market, often referred to as “turnkey homes,” are selling for 5% to 7% more than the rest of the homes on the market. There is more demand for these homes simply because the average buyer is using every last penny just to buy the home. They typically don’t have a lot of funds left over for remodeling or repairs.
When it comes to preparing the home, the first thing we want to do is an upgrade analysis. We’ll take a look at your home and find out where we can put money in and get a big return. We’ve had a lot of success putting $2,0000, $5,000, or $10,000 into a home and getting $10,000, $15,000, or $20,000 in return. We’re getting anywhere from a 200% to 400% return when we strategically put money into a home like this.
The second important piece of preparing your home to sell for more is to get the inspection done upfront. Once you receive an offer on your property, 80% of the negotiating power flips to the buyer. They get to have their own inspections, make their own requests, and get their own estimates. By getting an inspection done before you list, we can find out what’s wrong with the home and get one of our contractors to repair it at a third of what the buyer’s contractor would charge.
If you want to know what particular cosmetic updates or improvements we recommend, be sure to check out one of our past videos about the 5 home improvements to boost your home’s value or the five key updates you can make to boost your home’s curb appeal.
If you have any other questions for us or you’re thinking about buying or selling a home, don’t hesitate to reach out and give us a call or send us an email. Stay tuned for part two of this series, where we’ll talk about presenting your home to the market.