Property Virgins Star Egypt Sherrod's Must-Hear Tips To Sell Your Home
According to the National Association of Realtors, 5.6 million homes were sold in 2020. Upgrades, downsizing, and relocation will give you and your family a great fresh start, but that doesn't mean selling your home isn't still an intimidating, involved, and often frustrating process. While making your home more marketable, working with Realtors, and fielding offers can make your head spin, luckily there are professionals able to provide some helpful advice.
Egypt Sherrod, the host of HGTV's "Flipping Virgins," is an expert on all things real estate. She's the CEO of an Atlanta-based real estate group, an accomplished home flipper, and a helpful guide for first-time homebuyers on her show. Navigating the real estate market is complicated, but Sherrod knows the ins and outs to make sure you get the best value when selling your home. Keep reading to learn the most helpful tips she's shared over the years to ensure your home sells quickly and for a fair price.
Declutter your space
If you've been living in the same place for a while, it's easy for clutter to accumulate. Packed dressers, stuffed linen closets, and messy junk drawers are a part of life, but they also cover up or hide benefits from potential buyers. Most people still live in their homes while trying to sell, making it unrealistic to expect perfect staging 24/7. Then again, a little tidying up goes a long way. According to Sherrod, getting rid of excess items helps make your space look bigger and more appealing.
There's a psychological reason behind the benefits of a Marie Kondo-style paring down, too. According to Psychology Today, clutter leaves us with an excess of visual and sensory stimuli. In short, it stresses us out. Instead of focusing on your home's upgraded en suite or airy bedrooms, buyers may feel overwhelmed and uneasy staring at an excess of items scattered about. That's why it's important to clear away items, allowing visitors to better visualize themselves in the space.
Do any repairs now
While fixing up your home right before heading out for the day can seem pointless, taking care of necessary repairs is an important step before an inspection. You'll likely have to spend the money either way. Plus, tackling any projects early on gives you time to shop around for the perfect fit and avoid the mad dash at the 11th hour.
On her blog, Sherrod also suggests hiring your own inspector early on in the selling process and holding onto receipts and invoices for any recent repair jobs. This way, you can prove to potential buyers that you've taken care of the home and everything is in tip-top shape. Indeed, that added security is a major draw for buyers — and a great way to justify a slightly higher list price. After all, no one wants to buy a home under the impression that it's well-maintained, only to find out later that the house needs to be rewired a year down the line.
Work on the curb appeal
First impressions matter — and that goes for single-family residences, too. Regardless of your objectivity about buying, it's still an emotional and important decision for many people. In fact, their initial view of the front of the house can heavily impact a prospective buyer's opinion and set the tone for the rest of the tour. According to Investopedia, even small changes can massively boost the perceived value of a home.
To that end, Sherrod recommends trimming trees, cleaning up the porch and front door area, pressure washing the driveway, and doing some gardening to make sure everything looks clean and fresh. If you're willing to take it a step further, repairing the siding or giving the exterior a fresh coat of paint can go a long way in improving overall curb appeal. Buyers are likely putting down an offer based on the interior, but even the most gorgeous abodes can leave a bad impression if the outside looks run down.
Price the home correctly
In the ever-changing housing market, it may be tempting to take advantage of a buyer's market and overprice your property — after all, we all want to make as much money as possible with a high selling price. While the value of a house will still ebb and flow with fluctuations in the economy, raising your asking price too high can dissuade or scare off buyers.
Looking at the selling price of other similar properties that have recently sold is the best way to gauge your home's value and land the best offer. "Buyers will not overpay for a house. Buyers today are savvy shoppers," Sherrod says on her blog. "If you price too low, they'll think something is wrong with your home. If you price it too high and have to lower your price, it will hurt you more than if you price it right the first time."
Hire a tech-savvy agent
Nowadays, we do just about everything online, and that includes searching for a home. According to the National Association of Realtors, 97% of buyers in 2020 used the internet when they were searching for a new place to live. To that end, making sure an agent gets your listing on the proper sites and shares it on social media is important to reach potential buyers, per Sherrod.
Of course, there are dozens of home and property search websites that homebuyers can use to find listings, so the more places, the better. Who knows? The perfect buyer could be right around the corner, but that won't matter if they never see the listing.
Selling your home, especially if you're new to real estate, can be a scary process, but it doesn't have to be. With some expert guidance from professionals like Sherrod, you can be confident in getting the best value for your property and making a lasting impression on potential buyers.