Everyone wants to get the highest price for their property, and there are several components that can all come together for you to make this happen. The first and most important component is you timing the market correctly. If you want to sell your property for the highest price imaginable, you need to sell it when the market is peaking. But the problem with this is oftentimes knowing with certainty when that is happening, and trusting yourself to sell right at that moment.
Even if you sell a little bit before the peak, that’s fine. But the problem is that so many people wait until after the peak has already passed before they finally decide to get out, and then it’s too late.
In this day and age you’d think that we’d fully know and understand that real estate runs in cycles. But oh, when that rising cycle is going on, and we just love the ride that it’s giving us…if we can just keep on riding that wave, how much more money will we make?
The ride can definitely be intoxicating!
So next time, if you’ve decided that you want to sell near the peak of the market, learn what the signs are, and get out when everyone else is acting like they’re the ultimate real estate expert.
In addition, besides timing the market brilliantly, you’ll want to make sure that your property looks great before you sell it. Curb appeal will make a difference in the amount of money that you receive for your property, and people will oftentimes pay you top dollar when your property is looking its best.
But when your property looks like it needs some work done on it in order to get it into better shape, this can then have you lose the potential buyers who would pay you the greatest amount of money for it. These buyers would be the “full retail price” kind of buyers who don’t understand much about fixing up a property, and don’t want to learn. These are the people who want to see your property in its full, pristine condition…NOW. So when you’ve lost the interest of these kinds of buyers, you’re then left with the more “fixer-upper” kind of buyers, and these people will want to buy your property at a greater discount.
So your decision then becomes, “Do you want to do what will have you sell your property for the highest price? Or do you want to sell your property to someone who will insist on buying it at a discount?”
Oftentimes owners just don’t recognize that when they’re not willing to do the work that will put their building into pristine condition, it’s going to cost them money. Owners are frequently just focused on not wanting to spend any more money just before selling their building, and they’re not recognizing all the money that they could be leaving on the table because of this.
So in addition to timing the real estate market whenever you’re selling your property, make sure that your property looks great to potential buyers. The people who will pay you the highest amount for your property are usually the ones who will want to see it already in pristine condition, and if this is what they want, make sure that to give it to them.