Every homeowner has a different priority when it comes to selling. Some want to sell as fast as possible—they’ve already purchased a new home and want to unload the old one. Others focus on a straightforward sale. They don’t want to deal with tons of buyer stipulations or buyers who might be scrambling to find a lender. Most of the time, however, the primary goal of any homeowner is to sell an Albuquerque home for more money than the list price. In this article we’ll cover how to:
- Set the ideal list price
- Create a hotbed of bidding activity
- Be careful of appraisals
- Prepare your home for presentation
- We sell Albuquerque homes for more money!
Selling a home for more than it’s listed at is easier said than done, and requires many different considerations. For example, if the listing agent prices it too high, it might not attract enough attention to start a bidding war. Likewise, if it’s priced too low, selling it above list price might actually mean selling it for market value—or worse, less than market value!
There are a few smart moves an experienced Realtor will take to help your home garner a higher selling price. Especially in hot markets like Rio Rancho and the greater ABQ Metro area, these factors could be the difference between selling your Albuquerque home for more money or settling for the list price (or less!).
Set the ideal list price
As mentioned above, the first step in selling for a higher value is to set the best list price for your home. Too high and you’ll need to come down to appeal to buyers; too low and you’ve got no chance to raise the selling price. Here’s how a Realtor finds the sweet spot:
- They’ll get recent comps from similar ABQ-area homes that have sold for above market value or that sold for higher than their original list price.
- Smart Realtors will look at other area homes for sale and price competitively—higher to show a “premium” property, lower to compete for attention.
- Price-in upgrades, amenities and valuable additions and make them focal points to justify higher list price or to entice higher offers.
Remember, the list price is a benchmark—the number people will see first when looking at your home. Potential buyers need to see it as a conversation starter and A) value your property similarly and B) be willing to pay a premium if there are other interested parties.
Create a hotbed of bidding activity
Speaking of other interested parties, it’s much easier to sell an Albuquerque home for more money when there’s a lack of supply. Low inventory—more buyers and fewer homes—means more bidders gathered around the same property. This is why list price is so important.
If buyers see the list price as a starting point, rather than a price tag, they’ll be more apt to offer a higher price. Get two, three or more bidders going back and forth and it won’t take long for your home’s price to rise above its list price! As a seller, all you need to do is step back and let buyers compete against themselves. A bidding war is the quickest way to drive your home’s selling price above and beyond the original list price.
Be careful of appraisals
When it comes to selling your home for a big profit, there’s only one thing to be careful of: the appraisal. If buyers get too freewheeling with their bids and the price of your home skyrockets, the buyer’s lender may not finance it if it’s appraised too far below the selling price.
For example, a buyer might offer $450,000, but if your home appraises out at $405,000, the bank might back out. In this situation, you’ll need to renegotiate a lower selling price. Turns out, there is a such thing as selling your Albuquerque home for too much money!
Prepare your home for presentation
Something you, the homeowner, can do to help drive up the selling price of your home is to make it as presentable as possible. This means going beyond a thorough cleaning (although that’s a good start). Here are a few ways to make your home presentable to buyers and entice them to increase their bid on your home:
- Make minor repairs throughout the home and touch up any paint or stain
- Invest in new (affordable) window treatments and let in some natural light
- Use odor neutralizers, then place gentle fragrances throughout the home
- Make special efforts to clean up and eradicate any pet hair, dander and smells
- Pay to have a professional landscaper tend your property before showings
- Have your carpets or hard flooring steam cleaned before showings
- Stage furniture and accessories in each room, to accent the room’s appeal
The idea behind these tips and others is to help prospective buyers envision themselves in the home. If they walk into a room and immediately get a vision for how they’ve live in it, you’ve created a strong connection that might entice that buyer to bid higher when the time comes to buy.
We sell Albuquerque homes for more money!
Trying to sell Albuquerque homes for more money? Whether you’re selling in the ABQ Metro area, have a home in Rio Rancho or are leaving beautiful Valencia County behind, it’s important to work with a Realtor who can sell your Albuquerque home for more money than it’s listed for. Selling for the list price or below it means leaving money on the table!
No matter your priority as a seller, getting the best value for your home needs to be top of mind. Leave it to Myers & Myers Real Estate! We help home buyers and home sellers in the Albuquerque metro achieve their real estate goal. If you’re looking to sell an Albuquerque home for more money, we can help.
Check out homes for sale in Albuquerque, homes for sale in Rio Rancho, homes for sale in Corrales, homes for sale in East Mountains, homes for sale in Valencia County, and homes for sale in Los Lunas to see how we position your home to sell at the best possible price.