The real estate sales and brokerage market in Canada grew by 1.3% in 2022. Before you decide to sell your house, it helps to have a plan. Otherwise, you might struggle to attract buyers who agree with your asking price.
If you price too high, you might lose the chance at a sale. If you price too low, however, you could leave money on the table.
Before that can happen, use these negotiating tips and discover how to get more than your asking price.
With these tips, you can sell your home feeling confident. You won’t have to worry about lowball offers, either. Instead, you can learn how to play hardball while selling your home.
Discover how to price a house this year! Get started with these tips to learn how to price a house today.
Table of Contents
1. Stage Your Property
Before you even price a house, consider what changes you can make to entice buyers. The changes you make ahead of time can boost your asking price. Then, you can sell your home for more than anticipated.
For example, you might want to take the time to stage your property before selling.
Staging your property can help potential buyers imagine themselves within the living space. Make it easier for them to visualize themselves in your home.
Start by removing personal items, including photos or quirky furniture pieces. Instead, go for a minimalistic look. Try to remove furniture to make it easier for people to imagine their own belongings in each room.
Rethink where the remaining furniture is placed as well.
Instead of pushing furniture toward the walls, move floating furniture pieces away from the walls. Position chairs and sofas into conversational groups. Place furniture in areas with less traffic flow, too.
You can make the space more user-friendly while opening the room up for guests.
Consider working with a professional real estate agent while using these pricing tips, too. Choose someone with experience staging properties. They’ll help you draw a greater pool of prospective buyers.
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2. Research Buyers
Before you price a house, it helps to research potential buyers in the area.
Different property types will attract different types of buyers. Consider the buyer’s wants, needs, and goals. Then, you can list your home with their interests in mind.
For example, some buyers would prefer a move-in ready home. They won’t want to make repairs. You can make small repairs ahead of time to appeal to their interests.
If you’re trying to market to families, you can highlight schools and kid-friendly amenities nearby.
Some buyers prefer to make upgrades and repairs on their own.
Understand the buyer’s wants and needs before you begin using these upgrade and negotiating tips.
3. Create a Digital History
Remember, some buyers want homes that are move-in ready and maintained. You might want to use a digital service that created an online footprint of the property’s:
- Floor plans
- Warranty documents
- Maintenance records
This online footprint will showcase your efforts to improve and maintain your home. You might have an easier time boosting your asking price as a result.
4. Improve Your Curb Appeal
Before setting a price to sell your house, consider your curb appeal. Your curb appeal is what people first see when reviewing your property. If your curb appeal is lacking, it could scare buyers away.
Instead, consider:
- Investing in a new front door
- Repainting the home’s exterior
- Making renovations and repairs
- Replacing worn vinyl siding
You can also touch up your landscaping to attract potential buyers. Upgraded landscaping will also allow you to boost your price.
5. Make a Few Upgrades
Remember, a few small upgrades can help you sell your house for more as well.
For example, you might want to add new kitchen appliances or upgrade your kitchen with granite countertops. Consider new cabinets or flooring options, too.
Otherwise, consider installing new hardware in the kitchen or bathroom. A bathroom remodel is a great way to increase your price as well.
6. Time It Right
Homes listed online on Thursdays sell fastest and highest. In fact, homes listed on Thursdays sell for $3,000 more than the listing price on average.
Try to sell when inventory levels are low while buyer demand is high. Finding this window could benefit your asking price. Meanwhile, you can sell faster instead of letting your property linger on the market.
7. Consider Your Pricing Strategy
Your initial ask can impact your overall pricing strategy and experience as you sell your home.
Don’t make the mistake of pricing too high. Instead, research similar properties. Consider their sales price before determining your own.
An overpriced home could scare buyers. They might think something is wrong.
Consider starting with a lower price to increase the odds of multiple offers.
8. Counter With an Expiration Date
Most buyers expect a back-and-forth negotiation. They might post a bid that’s below your list price as a result. If they do, make a counteroffer.
Some sellers counteroffer with a price that’s higher but still below the list price. This strategy isn’t always the best way to meet your goals. Instead, counter by sticking with your initial list price.
You won’t have to waste time with buyers who only want to make lowball offers.
Add an expiration date to your counter to compel buyers to make a decision.
9. Create a Bidding War
Make open houses part of your overall strategy. Refuse to entertain offers until after the initial open house.
This strategy will encourage buyers to expect competition. They might start to place higher offers, leading to a bidding war.
Then, you can make counteroffers as you see fit!
10. Agree to Closing Costs
As you review these negotiating tips, you might want to agree to pay the buyer’s closing costs. Some buyers can’t afford to close a deal without help.
This strategy could increase the likelihood that the transaction proceeds. You can increase the purchase price above your list price while offering to pay the closing costs.
Price It Right: 10 Tips to Help Boost Your Asking Price
Learning how to boost your asking price shouldn’t feel stressful. Instead, use these tips before you price a house. With these tips, you can sell your home without leaving money on the table.
Remember, you can also work with a real estate agent for more negotiating tips.
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