While the heat of summer 2021 is just around the corner, Colorado’s real estate market has been ‘hot’ for months now. If you’re planning to sell this summer, it’s imperative that you prepare your home the right way to sell for maximum value.
In most areas along the Front Range, homes have been selling fast for more than the asking price; and in certain cases, we’ve seen homes sell for $50k - $100k over asking! But to achieve that level of return, you’ll need to ensure that your home is in tip-top shape. If you do this correctly, buyers will enter a ‘bidding war,’ this is what drives sales prices to extreme highs.
So what can you do to make this happen? Some of the most effective ways to get your home ready are through home improvements or renovations, as well as staging. When it comes to home improvements, this doesn’t necessarily mean a total redesign of your home or knocking down a bunch of walls. Improving certain areas such as the kitchen or bathrooms, or key features like landscaping or the shingles on your roof can make a world of difference in the eyes of a buyer. In fact, the average home improvement project can yield $1.25 - $1.50 for every dollar you spend.
Staging is another key strategy to maximize the sale of your home. The National Association of Realtors recently put out a report that summarizes the effectiveness of staging:
- "Twenty-three percent of buyers’ agents said that home staging raised the dollar value offered between 1 - 5%, compared to similar homes on the market that hadn’t been staged."
- "...the response from sellers’ agents was nearly identical, as 23% reported a 1 - 5% increase on offers for staged homes."
- Eighteen percent of sellers’ agents said that staging raised the value of a house between 6% and 10%, and 31% said staging dramatically decreased the time a home spends on the market.
So where do you begin when it comes to home improvements? How do you stage your home ‘the right way’? That’s where 8z Listing Concierge can help - sell your home faster and for a higher price, leveraging our repairs, home improvement and staging services. With Listing Concierge, our team of qualified contractors will get your home into prime selling shape; services are carefully overseen and signed off on by me, all for a small fee that gets wrapped into your closing costs. We realize that taking on these types of projects, or even deciding which projects to take on, can be intimidating to approach on your own. But with 8z Listing Concierge, you can feel confident that your home improvements are handled, and you don’t even have to lift a finger.
Time To Sell
Once your home is ready for buyers, there are additional ways to maximize your return. One of the best selling solutions we offer our clients is 8z Open Market. Our proven system involves a blend of exceptional service, leading-edge technology, and powerful marketing, meaning more money in your pocket. Here’s a recent success story from one of our clients:
"My agent counseled me that if I followed her staging advice, and if we priced it right, in this market, we could set off a bidding war. The photographer she hired did a stellar job and our listing photos were amazing. We had one weekend of showings; started on Friday, and had three solid days of back-to-back showings. By Monday, we had 13 great offers much higher than our asking price. We ended up going with a cash offer $51,000 over our listed price of $299K; the offer had other lovely concessions which helped me while I was looking for a new place. Incredible!"
This is truly a unique time to sell your home. When you combine the extreme market conditions with the proper preparation of your home, it’s likely that you will receive a nice chunk of change over what you’re asking.
