Tips on selling your holiday home

Tips on Selling your Holiday Home

Want more money when selling your holiday home? Who wouldn’t? But there are a number of factors that can complicate the process. Some are entirely under your control, others are processes that you have to monitor to make sure they are being done effectively.

But it's not as hard as it might seem to sell your holiday home for more money. Follow these great tips for getting the price you deserve from your home.

Don't list your property until it's really ready A lot of homeowners whip their home onto the market without really thinking about it enough. And that can be a big mistake. Before you even consider listing your home, make sure it's prepared. And that can mean anything from a quick cleanup all the way to a total renovation. To help decide what your preparation priorities should be, consult real estate agents you're considering working with. They'll be happy to give you advice, since making the home easier to sell is of huge potential benefit to them.

Target your buyer Treat selling your home like the large business transaction it really is. No, you don't have to craft a huge, painstakingly elaborate marketing plan for selling your home. But at the very least, understand what type of buyer will be most attracted to your type of home, and for what reason. Collaborate with your real estate agent to come up with a detailed picture of your target buyer. Then look for ways you can make your home even more appealing to that type of person.

Evaluate your home's competition yourself Real estate agents have a vested interest in lowering the price of your home - it will help it sell faster. Granted, by doing so they miss out on their percentage of a higher selling price. But that usually is more than offset by the speed it can put money in the agent's pocket. So question their valuation and compare it to what other agents say. And see how it stacks up against other houses in your neighborhood.

Keep the listing term short Signing up for a six-month listing can take money out of your pocket by letting a big chunk of your home's appreciation go ignored. And keeping your home listed with one agent for too long can ease the urgency off your agent, letting him ignore your home for much of the term. Keep the term relatively short, thereby giving yourself options if a particular agent isn't working out.

Don't get pressured into lowering your price quickly Finally, if your holiday home is on the market for a relatively long time it could very well be time to consider dropping your price. But real estate agents may be eager to do so right away. Like I said, selling homes quickly and with a minimum of fuss is ideal for the agent, but it may not be so great for you.

Unless you've got an urgent need to sell your home immediately, expect your home to take a while to sell. If you get an offer the first weekend, it's an almost certain sign that you could have gotten more money by holding out a bit.