Ways to Increase Your Profit When You Sell Your Home

Making a profit is often at the top of the list for homeowners attempting to sell their house. At first glance, you might believe that the only way to make money on the sale is to sell your home for more than you initially paid for it. However, a few strategies exist that can enhance the profitability of going to settlement, allowing you to make more money out of the deal than you thought possible.

Set the Right Price

All too often, sellers fool themselves into thinking a high asking price is going to result in larger profits. Unfortunately, the opposite is often true. When a home is listed with a price that is considerably higher than the market will bear, it typically sits for weeks that stretch into months. Once this type of situation develops, lowering the asking price in order to attract potential buyers is the next step, an action that certainly lowers the profitability of the sale.


Hire an Aggressive Real Estate Agent

If you sell your house quickly, you won’t need to lower your price to get the sale. In fact, homes that sell quickly are typically priced reasonably for the existing housing market, shown to highly motivated buyers, and in move-in-ready condition. Having an aggressive real estate agent on board means that your house is actively being shown to prospective buyers who are interested in the type of home you are selling. How do you recognize an aggressive agent? Look for a professional with an excellent track record and strong ideas on how to market your home aggressively.

 

Offer to Sell Larger Pieces of Furniture

If you are moving to a new home, you might also be interested in buying a new selection of furniture. If this is the case, why not offer to sell some of your furniture to your buyers? Doing so allows you to:

  • Save on moving costs
  • Make money

Ideally, you should consider selling off the largest pieces of your furniture because it helps to limit the number and size of the moving vans that you’ll need. Even if the buyers only purchase one or two pieces, you’ll still make money that you weren’t expecting to get.

Offer to Sell Yard Equipment

Whether or not your new home has a large yard, you might want to sell off your lawn tractor, rototiller, and hand tools. You will save on your moving costs and make some money at the same time.

Get Your Real Estate Agent to Accept a Lower Commission

Getting your real estate to accept a lower commission on the sale of your home is a tricky business. First, you must get this professional to agree to do so. Second, it is possible that a lower commission places your home on the bottom of the list when it comes to showing homes to prospective buyers, possibly increasing the time needed to get a sale.

If you are looking for ways to increase your profit when you sell your home, you might want to try as many strategies as possible. You might not have success with all of them, but at least you can try. Any money that you make using these strategies will add to the profitability of your real estate transaction.