How to Get the Highest Offer on Your Home

How to Get the Highest Offer on Your Home

  • Maureen Lathrop
  • 02/7/22

The time has come to sell your home, and no doubt you have some questions about the best way to go about this endeavor. There are certainly a lot of factors to consider. Truth be told, deciding on a price for your house is a big decision. If you go too high, you run the risk of not receiving offers. And if you go too low, you might end up settling for less money than you and your home deserve. 

With all that said, determining the right price to sell may feel overwhelming or daunting. Not to worry! We’re here to walk alongside you on this exciting journey and provide some helpful tips so you can get the highest offer on your Summit County home.


Hire an experienced realtor


One of the best ways to get a plethora of great offers on your house is by hiring an excellent listing agent. When searching for the right agent, take into consideration their experience as well as general reviews and recommendations from trusted family and friends. You want to go with a top-notch real estate agent who you’ll trust and enjoy working with. 

Look for someone who knows the local market and has a good grasp on what prices comparable houses have sold for in the area. Another positive is that your agent will assist you through the entire process from start to finish. This includes the necessary paperwork transactions, researching the local market, and providing guidance on staging your home. 

Up your curb appeal

The outside of your house speaks volumes to potential buyers. You want to give them a positive first impression. So, what are some practical ways you can do this? First, go outside and take a walk around your house. Look for anything that is damaged, messy, outdated, or doesn’t look appealing. Observe details such as the grass, flower beds, trees, plants, paint, and so on. 

Next, step up your curb appeal game. This can include everything from adding a fresh coat of paint to the house, trimming the shrubs, or putting in more lighting on your porch to brighten things up at night. If something needs repairs, make sure it gets fixed. If your house numbers are hidden, old, or broken, consider adding new ones to make your house stand out even more. Make sure your porch, yard, and surrounding property are clean and inviting. You want the space to be welcoming and, as the name suggests, appealing. 

While you may not have noticed many of these details—or even grown used to them—rest assured buyers will be quick to pick up on them. Even if your curb appeal is good, there are lots of ways you can take it up a notch. Consider planting flowers or a tree to add an extra splash of color to your property. For more suggestions or guidance, be sure to ask your local home improvement store for any ideas they may have.  

Stage your home


Another fantastic step to take is to stage your home. This means preparing and setting up the space for prospective buyers. This includes everything from decorating, rearranging furniture, cleaning, and other strategies to bring out the best in your home. Of course, when one takes this all into consideration, it can lead to a vital question: is all this work, time, effort, and money worth it? When it comes to selling your home and getting the best offer possible, the answer is a resounding yes! 

Staging your home highlights its strengths and best features. It will put it in the best light possible and make it easier for buyers to imagine themselves in the space. Although it can be a lengthy and time-consuming process, staging your house will increase your chances for a great sale. Consumer Reports notes that there is a 3-5% value increase for a clean and decorated home

So, what are some ways you can stage your space? Decluttering is an important first step. This encompasses removing extra knickknacks, family photos, personal treasures, and generally depersonalizing the area. While this may feel strange, it’s a surefire way to make sure buyers can easily envision themselves in the house and feel like it could potentially be their own. 

Additionally, remove excess furniture. You want potential buyers to feel like the house has plenty of space and that it isn’t too crowded. Rearrange essential furniture in a way that makes sense and creates an inviting atmosphere in each room.  Highlight your storage and closet space as well. This is always a big plus that buyers are looking for and they will likely want to see what your house has to offer here. 

Know the local market

Whether you decide to partner with an agent or sell your house yourself, it’s important to understand the local market and current real estate trends. For example, 2020 and 2021 were a seller’s market, which was a result of record-low mortgage rates and low inventory. In the words of Investopedia.com, a seller’s market occurs when there is a shortage of available items for sale—thus, allowing the seller the power to dictate prices. And there is a great opportunity for this in Colorado! 

Consider renovations


Another factor to consider is making minor renovations to your house. This will increase the value and return on your home as well as make it a more appealing space for potential buyers. Make sure you do your research beforehand to ensure your work is cost-effective and will yield a worthwhile return on your investment. ROI is a measure used to determine the return or profitability of an investment as compared to a number of different investments. 

Focus on simple upgrades and facelifts. For example, a bathroom remodel can increase the return value of your home to an average of 102%. In fact, 26% of sellers make some sort of improvement or remodel to their bathrooms before putting their house on the market. Do your research and find out which renovations will best serve you and the return you are looking for on your home. 

Understand marketing

Whether you decide to hire a real estate agent or sell your home yourself, you will undoubtedly want to do some research and understand the marketing process. From familiarizing yourself with marketing techniques to getting a better grasp on the details of the selling process, there are plenty of ways to effectively market your house

One main marketing strategy is photographing the exterior and interior of your house and posting it online. Take up close and far away pictures. Move the car out of the driveway and clear any vegetation that is blocking the porch or doorway from view. Make sure you capture photos of the yard, the pool if there is one, the garden, the patio, and any outdoor features. Buyers will be interested in seeing these snapshots, and viewing photos of your outdoor spaces will help them have a better idea of your property. 

According to the National Association of Realtors, looking online was one of the biggest ways prospective buyers searched for a home. Some other strategies include creating an online presence, putting for-sale signs out front, offering virtual tours, and hosting open houses. These are great, practical ways to get out the word and showcase all your home has to offer. From photographing your home to staging it, there are a variety of smart ways you can 

Set your offer 

Of course, you want the highest offer for your home. So, the question is: how do you set the right price? One vital step to take is by doing your research. Spend time looking at other homes in your area to get an idea of the typical asking prices. This will help you see real estate through the buyer's eyes and gain a better understanding of reasonable asking prices. A fair asking price can create the opportunity for a bidding war between buyers. If you are still unsure about an accurate and fair asking price, you can always enlist an experienced real estate agent to help you. On this exciting journey of selling your home, you can rest assured these tips will guide you as you make the best decisions for yourself and your family. 


Are you looking for more information about Colorado mountain real estate or want to learn more about our specific property listings? Feel free to contact Maureen Lathrop or Joe Alvine for all of your Colorado luxury home, condo, or real estate needs. Our team would love to show you some homes and townhouses for sale in Summit County. Let’s get started today to help you find your dream home!

 

 

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