The 4 Ps to Maximizing Your Selling Price - Sherille Layton

The 4 Ps to Maximizing Your Selling Price

30 July 2019
Sherille Layton

Over the summer during your downtime you may discuss moving home with your spouse. We often as Realtors receive calls regarding home evaluations during August in anticipation for the Fall market.

When you sell, you will want to get the best possible price for your property. That is always the goal, and as a Realtor that is my goal for my client.

Unfortunately, there are many ways to inadvertently leave money on the table – sometimes thousands of dollars. 

How do you avoid that possibility? Just remember the 4 Ps:

Preparation - Do everything you can to prepare your home so that it looks great to buyers. Clean, declutter, fix, make improvements. Home staging can also help. In fact, effectively staged homes have been shown to sell for up to 5% more than comparable unstaged properties. As soon as I sit down with a client who wants to sell, we have already booked a consultation with my stager. Let the professionals guide you and inevitably that will alleviate some of the stress.

Price - Set the right asking price. That’s crucial. If it's too low, you'll attract only deal-hunters — and you might end up getting less than you should. If the asking price is too high, however, you'll discourage those buyers who might otherwise be interested and willing to make a good offer. Buyers are knowledgeable and many have done their research. If the asking pricing is too high, your property will sit on the market, however hot it is at the time. 

Promotion - There may be qualified buyers out there who would be eager to see your property. They may drive by your For Sale sign, and be excited to see it. But, they need to find out about your listing and the great features of your home first! Reaching these buyers requires more than merely profiling the listing on the MLS. Homes that sell for top dollar often have strong and attractive marketing — targeted to the right buyers.  

Proposal - Once an offer comes in, there may be an opportunity to negotiate with the buyer to maximize the final price you receive. A Realtor will have good insight in to the offer and negotiation process and most importantly current market expertise. It can be an emotional time, so let your Realtor advise you. This process requires deep knowledge of the local market as well as street-smart negotiation skills. If done effectively, these negotiations can help put more money in your pocket.

These four Ps are easy to remember, but sometimes not so easy to implement! That's why working with a great real estate agent is so important. Contact me to get the conversation started.

You can reach me personally on 416 419 5893.