Homeowners choose to work with a real estate agent because they require assistance. It could be their first time selling a home, or they may desire to sell differently than in the past. It is your obligation as a real estate agent to make the process of selling a home as simple as feasible. That means having the answers your clients require regardless of what they ask. Even if you've spent your entire career honing your real estate talents, it's always beneficial to learn new things about selling a home.
Discover six of the most effective methods for increasing your return on investment (ROI) on a property. Putting in time with clients should result in a commensurate paycheck at the conclusion of the process. Try these strategies on homes you're attempting to sell to see how much money you and the homeowners stand to make once the house sells.
1. Demolish A Few Walls
Most people buy a new home because they want more living space. Consult with a contractor to see whether taking down a few walls in one of your current residences is the best option for the property. Modern purchasers choose open floor layouts for living rooms, dining rooms, and kitchens that utilize natural light to enliven the home. As long as the home's basic structural support is maintained, taking down a wall will open it up and urge potential purchasers to offer more for the price.
2. Change The Garage Door
People frequently take garage doors for granted, only thinking about them when they become stuck or break. Even if a home's garage door is in fine working order, replacing it will maximize your ROI. According to a 2019 study, garage door replacement increased ROI by 97.5%, which was higher than most initiatives. It merely takes a few hours to install a replacement and increase the value of a home.
3. Enhance Bathroom Features
People frequently request tours of homes with spacious yards or two-car garages, but they also favor enhanced bathroom features. One aspect that can make folks feel like they've left their apartment life behind is the condition of the bathroom. Household bathrooms are usually more attractive and easy to modify. Focus on this factor by upgrading to a glass shower to achieve a 67.2% ROI improvement regardless of whatever bathroom you remodel.
4. Hardwood Floors Should Be Refinished Or Replaced
Nothing needs to be replaced in a home with decent carpeting, but if the hardwood floors have seen better days, it's time to consider starting a new project. Refinishing or repairing hardwood floors to make them look brand new recovers 91% of the expenditures, so everyone is paid for their time and labor. Floors are especially significant in older homes that only have hardwood floors.
5. Roof Replacement
Unless a significant storm has recently passed, homeowners should not be concerned about their roofs. Still, it's a good idea to have it inspected and consider changing it if you want to generate more money. Replacing the entire roof returns 105% of the project's cost and attracts more buyers. People will want to spend their money on a property when the construction is already completed because it means they will have less work to worry about later.
6. Installing A New HVAC Unit
Most households have felt the stress of having to replace damaged HVAC equipment. In the hottest days of summer or the coldest days of winter, you have to wait a week or two for your new unit to arrive and be fitted.
The uncomfortable waiting circumstances are bad enough on their own, but then you factor in the exorbitant cost of a replacement unit. People will take a home more seriously if they know the HVAC unit is new. It's a large project for homeowners to undertake, but 71% of the cost is recouped when the house is sold, so it pays off in the end.
Think About The Property
Whether you're attempting to help a client sell their home or you want to sell your own, these projects are worthwhile to consider. Consider the property you are considering to determine its strengths and disadvantages. You'll locate the ideal project to turn those flaws into features that improve the property and increase your ROI.