Marketing your property is not just a matter of throwing a listing up online and hoping that it catches someone’s eye. You need to be strategic from the very beginning of your home selling process. You want to be able to market a home that is competitive in the area by determining its value and pricing it accordingly. Any repairs and renovations that you make should make great selling points by increasing the functionality and livability of the home. You will want to place the listing in locations that you know will reach the audience that is most likely to put an offer on your home. Continue reading for more details on these tips for marketing your South Bay property for the highest profit.
1. Determine the value of your home
The first step you need to take in order to make the most profit on your property is to determine your home’s value. Several factors go into determining the value of a home. You will first need to compare your home to other Hermosa Beach homes. You will want to look at the price of homes that have sold recently, as well as homes that have been on the market for a substantial length of time without selling. You want to make sure that you are comparing your home to homes that are similar in location and structure. A three-bedroom home may not go for a similar price as one that has five bedrooms. A home that is on a main thoroughfare may hold a different value and sell for a different price than one located in a neighborhood a couple of blocks away.
While you can do the research and determine the value of your home on your own, you may want to consider hiring a Hermosa Beach real estate agent instead. A real estate agent will have a high level of expertise in the local market and will have access to professional tools and technology that will help you receive an accurate valuation for your home. A professional real estate agent will be able to market your competitively priced home to the right audience looking for homes in the area. When potential homebuyers see a home with a value that matches the price offered, they will be more likely to put an offer on the home.
2. Price competitively
After you have determined your home’s value, you will want to make sure that you are pricing your home competitively compared to other Hermosa Beach homes. Again, you will want to look at the selling price of comparable homes in the area that have sold recently, as well as ones that have been on the market for a while. You will also want to take this time to compare the features of your home to others in the area. You want to have a home that is as functional and up-to-date as possible without pricing yourself out of the area. You may discover that your home does not have the same features that are big selling points in other homes in the area. This will help you determine if your home needs any remodels or upgrades before listing.
Pricing your home competitively will also encourage potential buyers to want to view and make an offer on your home. When homes are listed online, it is easy to browse a variety of homes at one time. If there are similar homes in the area that are being offered at a substantially lower price, potential buyers may look elsewhere for their next home. If you set a selling price that is competitive for the area and list the home as being a great deal for the area, you may end up creating a bidding war that will encourage potential homebuyers to offer higher bids than they would have otherwise.
3. Get in front of people
When you are looking to list your home for sale with other Hermosa Beach homes, you want to get your home in front of as many people as possible. You will want to determine what kind of owner you are targeting for your home and then list your home in the appropriate places. You may want to start by listing with the multiple listing service (MLS) that connects your listing to many sites online. Depending on the age to which you want to gear your home sale, you could consider listing your home on Facebook Marketplace. One additional detail you will want to consider when trying to get your home in front of as many people as possible is to change the featured photo on your listing. By choosing different rooms or views of your home to feature as the first image potential buyers see, you could appeal to many different individuals depending upon what they are looking for in a home.
4. Sell renovations
After completing the necessary repairs around your house, you will want to look back at the comparisons you made with other Hermosa Beach real estate and decide if there are any upgrades and remodels that you can complete in order to earn more profit on your sale. This is not the time to start remodeling, just to remodel. You want to consider the remodeling projects that will provide you with the most return on your investment. One upgrade that has a 100% return on investment is an upgrade to your home’s insulation. While this is not necessarily an attractive project, it is one that is necessary to keep your home as energy efficient as possible. If possible, consider remodeling your basement. When you turn your basement into a functional living space, you will see an approximately 86% return on investment. You will see the same return on investment if you redo the outside of your home with vinyl siding.
By making these remodels and renovations before listing your home, you will have additional features that may make your property stand out compared to other listings. You’re not just selling a home, you’re selling comfort and functionality. You’re selling a space that an individual or family will want to call home.
5. Stage appropriately
One additional step you can take in order to make the most profit on your Hermosa Beach real estate is to stage it appropriately when you prepare to offer viewings. You want potential homebuyers to walk into your home and see themselves creating a life there. You can complete the staging process on your own, but at this point, you may want to consider hiring a professional. They will have a good understanding of what it takes to stage a home to appeal to the right buyers who will be willing to make an offer on your home. This first impression that a homebuyer will have, whether while viewing an online listing, photos on social media, or in person, should create an unforgettable first impression.
Now that you have some tips for marketing your property to make the most profit, you are ready to start looking for a real estate agent to work with. You will want to choose a real estate agent that has real estate expertise and experience. Jon Grogan has many years of experience in commercial and residential real estate. He employs his analytical talents to help you make the most out of your home sale. He provides his clients with great customer service and with the knowledge and marketing skills to successfully sell your home in the South Bay area. Reach out to Jon directly when you are ready to start preparing to sell your home.