In many real estate markets, the recommended way to maximize your profits when selling your home is to have your house professionally cleaned, maybe remove a few personal items (your bong, for example) and that’s about it. We all know San Francisco is anything-but-typical.
Stage Your Home to Maximize Net Profit & ROI
We live in one of the most desirable cities in the world. Real estate is expensive. The market is super competitive. So, you gotta up your game if you want to make the most money possible when you sell your home. To maximize your net profit & ROI in the San Francisco real estate market, you’ll want professional staging. Staging will help your home sell faster and for more money. As a real estate consultant, I make it my business to ensure your home looks fantastic and work with you to create a strategic plan that works with your goals and budget.
Spruce Up Your Curb Appeal
When it comes to buying a home, people do judge a book by its cover. Some people think staging is an inside job, but actually it’s very important that your home look great inside and out. Again, this is one of the tasks I take off of my sellers’ hands so they don’t have to worry about coordinating these and other details. My team and I provide full-service project management from start to finish.
Having a top real estate agent is essential when it comes to negotiating the sale of your home. My negotiating skills alone are worth every penny of the commission. Real estate is somewhat unique in that it is not a “winner take all” negotiation. In a successful real estate sale, everyone comes away somewhat satisfied though the balance will shift depending on market conditions. The buyer buys; the seller sells.
But that doesn’t mean that we can’t employ certain methods to maximize your profit, saving you both time and money. There can be hidden costs to the sale that pop up if the preparation and disclosure process is not done properly. For example, if a buyer has an inspection contingency and finds a surprise, it can cost you money and time. They may ask for a price reduction or for you to do the repair or even use it as a wedge to get out of the purchase. As your negotiator, I work diligently to anticipate objections, avoid surprises, and facilitate a smooth and quick sale.
Be Aware of Hidden Costs
An error many sellers make is not being aware of the hidden costs of selling a home. A great idea is to talk to your tax and/or financial advisor before you get started so you have a clear understanding of the sale’s tax implications and have time to gather the necessary documents (See Keep Records of Your Deductible Expenses, below.).
It’s also a smart idea to talk to your real estate agent about the major closing costs involved in listing your home. Each county has different practices when it comes to closing costs and who pays what. In San Francisco, it’s standard for the seller to pay the city and county transfer tax except in new construction where the buyer is usually stuck with the bill. (So if you bought a new condo from the original developer, you’re likely to pay the transfer tax coming and going. Bummer!) Whereas in the East Bay, the buyer and seller usually split this cost.
There are also certain repairs that home owners are legally required to fix in San Francisco, mostly relating to water and energy conservation. In some areas, the sellers are required to fix all Section 1 items on the pest report! Luckily, this is not the case in SF…yet.
As your real estate agent in such a complex environment, I make it my job to be sure to disclose these details to you and help educate you on the ins and outs.
Keep Records of Your Deductible Expenses
According to my CPA, all costs of sale, including staging and other property preparation are tax-deductible. Tax deductible items also include new additions such as patios, bathroom and kitchen remodeling, and pools. There are even smaller items that count, such as the installation of services and additional fixtures and electrical outlets. Don’t forget to keep records of all your expenses, since you’ll need receipts in order to claim them on your taxes.
We are skilled real estate consultants, not CPAs, so always consult with a licensed tax advisor to verify this information and talk specifics about your situation.
Marketing Opportunities & Referrals
Even in a market as hot as San Francisco’s is now, smart sellers rely on top real estate agents who understand both traditional and digital marketing. To maximize net profit & ROI on the sale of your home, make sure that your real estate agent understands how to make the marketing process smooth, and takes advantage of all the latest technology and online opportunities.
In addition, your Realtor should have a lot of connections to local referrals so that your sale can move forward smoothly. Our team has been working in San Francisco for a long time, so we have great relationships with everyone from web developers and videographers to handymen and local inspectors.
Find The Right Agent to Manage Your Real Estate Project
Do you know how much your house is truly worth? I do! Knowing how to price your home requires an expertise that comes from spending years in the real estate industry and selling hundreds of homes in San Francisco. I have especially deep knowledge of the San Francisco real estate market and its ebbs and flows. In other words, don’t ask me about Des Moines!
The right agent will understand your neighborhood’s particular nuances, know how to price and prep your home so that it’s most competitive, negotiate on your behalf, advocate always, and manage your listing so that you maximize the sale while still having time for your friends, family, and work. What’s that cheesy slogan..We take care of the details so you don’t have to? Yeah, sounds about right!
It’s important that your agent be upfront with you at all times. I am very direct with my clients (in a kind, friendly manner!) if I think they are letting their emotions get ahead of what makes the most business sense. My clients appreciate that, even if sometimes I have to deliver hard news about pricing or upgrades that will maximize net profit & ROI. Every situation is different, and we’ll custom tailor the right plan to suit your budget and goals, but I promise to always tell the truth so you can make the best decision for you.
If you’re selling a home there’s no doubt you want to maximize your results and have an enjoyable experience. I consistently achieve these goals for my clients. When you’re ready, give me a ring, and we’ll talk. No strings attached.