Selling properties is a complex and tricky affair. But, trying to achieve a maximum profit on the sale makes it even more complicated. It takes a keen understanding of the local market trends to make this happen.

Below is a compilation of some of the best methods used by real estate agents to enhance the value of properties and get the best price on the sale.

Hire A Reputed Property Broker

It may seem profitable to not spend money on hiring a broker after receiving inquiries from interested buyers. But, keep in mind that a property sales cycle could go on for weeks, and managing everything alone could be stressful. Hiring a reputed property broker could help in making better decisions regarding the sale. Since a property broker would have more experience, they would be able to recommend what the best course of action for the sale would be.

Use Online Tools

Plenty of online tools exist that make it easier to determine how much profit could be made on property investment. Unlike a few decades ago, these tools make it much simpler to assess returns and make sound judgments based on that.

You could try the cash on cash return calculator to arrive at your annual cash flow amount, your net operating income, and your cash-on-cash return. Cash-on-cash return provides insight into how much you could expect to earn from your money, whenever you buy a property.

Another way of leveraging the Internet in your favor would be by signing up with real estate websites. One advantage of doing this would be that your property would be seen by more people. Another advantage would be the ease of operating on such platforms and the services they provide, like calculating how much your property is worth, or what the sales proceeds would look like.

Price It Right

Sellers frequently make the mistake of over-valuing their property, which leads to losing a lot of customers. Pricing your property according to its market value could tip the balance in your favor.

This assessment could be made by taking the help of a property agent. Another option would be to check online. Everything is on the Internet, and checking on various real-estate platforms could help with assessing an appropriate price for your property.  

Time It Right

Timing the sale right could help you price the property at its peak value. People prefer to move during spring and summer because these are warmer seasons. These are also months when kids have holidays, making it more conducive for shifting. If you’re not in a hurry to sell off your property, waiting and selling it at this time could prove to be rather profitable.

Bump Up The Visuals

It is generally agreed that a furnished property is most attractive to prospective customers. Anderson Toney, a real estate broker at Compass, says that people usually buy with their eyes. For those who are putting their properties on the market, he recommends ensuring that these have the best visuals. He also believes that adding furniture helps to showcase the size and capacity of the space. This is also known as staging-setting up furniture and décor to help customers better visualize the property.

At the same time, it doesn’t mean that the property should be decked with furniture. Staging the main spaces helps greatly. It’s crucial that the interiors are not cluttered as this can leave a negative impression for the customer.

According to data from realtor.com, the average cost to stage a home is around $2,000 to $2,400. It has also been found that when it comes to selling homes, staging the living room and master bedroom tends to be the most useful. 

Improve The Outside

How pleasing a home looks from the outside largely determines how many potential customers it draws. According to a report by SFGate, a well-landscaped property can fetch 5.5-12.7% more than a property with no landscaping. If it’s not possible to landscape the property entirely, the least that could be done is to ensure that the home has a well-cut lawn, some garden furniture, and a clean patio.

Than Merrill, CEO of FortuneBuilders, recommends investing in a new front door. If that’s not feasible, he recommends repainting it for a fresh and clean look.

Conclusion

There is no set formula when it comes to selling properties at the highest possible price consistently. Each individual develops methods that work best for them, and it might take some trial and error to get better at this. The above tips provide a broad framework for you to experiment and determine what works best for you.