The real estate market is always changing, but the desire to maximize the equity that one develops in a property is near-universal among those who opt to list properties. With interest rates higher but demand still outpacing supply, sellers listing their properties tend to be eager to make as much as possible on their homes, especially if they intend to purchase another property with the money generated by selling their homes.
There are so many variables in selling a home. How do property owners maximize the return on a real estate transaction in Florida?
They time and structure the transaction carefully
Some people sell and buy property at specific times because they need to move for work or have other unavoidable personal obligations that require them to sell or buy property within a few weeks. However, many people have the luxury of choosing when to list their properties and should do so carefully.
There are annual trends in sale prices across the nation and in different markets. Spring and early summer tend to be strong selling times nationwide, although Florida does sometimes see a boost from snowbird interest in the late summer through the early winter, which are often slower seasons in other markets. Choosing how to list the property, including whether to use an agent or not and what that agent commands as their commission, will also have a profound impact on how much of the sale price the seller actually retains.
They make the property as attractive as possible
Not every home will go on the market in pristine condition with updated windows and new central air conditioning. Often, those major projects don’t necessarily lead to a comparable return on investment when listing the property. Still, there are some projects that may not cost much but that can drastically boost what the home is worth. Taking the time to stage the property, focusing on high-value spaces like bathrooms and kitchens for last-minute projects and prioritizing the exterior for better curb appeal can all make it easier for buyers to justify bringing their best offer to the table.
As a closing note, sellers also need to recognize that the best offer isn’t always the highest offer. Terms including post-closing possession options and the contingencies included in the offer can make a big difference in how valuable it actually turns out to be for a seller. Taking an informed approach to listing real property can make a big difference for sellers hoping to maximize the profit generated by a transaction.