Between the stunning scenery and unparalleled access to one of the nicest metro areas in the U.S., it’s easy to see why homes in the Bay Area real estate market practically sell themselves. That said, homeowners can do specific things prior to listing to increase their final sale price. Use these six tips to get even more money for your Bay Area home.
How to Make More on Your Home Sale in the Bay Area Real Estate Market
1. Stage Your Space
According to American real estate mogul and ABC Shark Tank investor Barbara Corcoran, “Home staging is no longer optional in this real estate market; it is a must!”
Though there are debates on exactly how much of an impact staging has on your final sale price, experts agree that it never hurts to spend time prepping your home for potential buyers.
But why is it so important? When people tour your house, they need to envision their future home, not your current one. You can help facilitate this by de-personalizing your home and keeping room layouts and designs minimal, neutral and flexible.
If people are thinking about investing in your home, they need to see that you’ve invested in it too. That’s why spending money on the right renovation projects can pay you back big time at closing.
For example, a new front door is an inexpensive upgrade that makes a great first impression on buyers. Also, upgrading internal systems like hot water heaters and HVAC systems are attractive updates that can save buyers huge money in the long run. In the right market, upgrades like these may be the deciding elements to push your home into a really profitable sale.
3. Go Green
As the general population becomes more socially and environmentally conscious, the idea of “living green” is becoming a high priority for prospective home buyers. This is especially true in an innovation-driven region like the Bay Area.
Tap into this demand by upgrading existing features. It can be easy and doesn’t have to be expensive!
Consider replacing faucets, shower heads and toilets with low flow or water-conserving models. If you have an older property, you can make it more energy efficient by installing weather stripping in gaps and joints. When it comes time to sell, any steps you have taken towards going green can help you earn some green at closing.
4. Optimize Outdoor Entertainment Areas
The temperate weather and natural beauty of the Bay Area is ones of its biggest luxuries. If your home has any outdoor space, show it off with some carefully staged entertainment areas.
To make sure your outdoor space is looking good, keep trees, plants and grass trimmed and manicured. Paint old furniture to revitalize it and make your space look like a great place to hang out.
5. Spring for a Pre-Sale Safety Inspection
Much like a certified, pre-owned vehicle has mass appeal, a home that is verified to be in good working order is appealing to buyers considering shelling out hundreds of thousands of dollars. That’s why hiring a safety inspector to come out and take a look at your home pre-sale is a wise investment, especially if you have an older property. Taking the initiative to prove to buyers that your home is safe and sound can be just the thing that gives buyers peace of mind and helps you edge out the competition.
6. Save on Realtor Commissions
Realtor commissions are the largest expense for home sellers. The typical 6% commission can cut deep into your profits. But there are ways to save.
Some real estate companies – like our partners at Clever Real Estate – offer listing fees at a discounted rate. While seller's agents normally take 3% of the total 6% commission, Clever's partner agents only charge 1%. That way, you can pocket that additional 2% profit.
For a $1.5 million home (the average in San Francisco), that's $30,000 in savings!
Best of all, you'll never have to sacrifice great service. Clever's nationwide network of trusted real estate agents provide full-service support, from brokerages like Coldwell Banker, Keller Williams, and RE/MAX.
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