What are buyers looking for when they shop for Miami Beach real estate? Answering this question is key if you’re going to earn the highest possible profits when you put your home on the market. There are a few aspects that separate the homes that sell for a price above asking from the homes that can spend several weeks or months on the market. If you don’t want to drop your asking price or wait longer than necessary for your home to go under contract, here are a few ways that you can set your home apart from the competition.
Know what you’re up against
Think critically about when you’ll publish your listing
Choosing the right season, day, and time to bring your listing to market can impact how much you’ll make when you sell your home. The market tends to be hotter during the late spring and early summer than it is at other times of the year. Since many people have recently received their tax refunds, they have extra cash on hand that they can use to fund their down payments. Families with young children are also more eager to move when they won’t have to pull their children out of school (and when they will have the entire summer to settle in before classes resume in the fall). If you want to sell your home and you have some flexibility on the specific timeframe, consider selling during this time.
You’ll also want to think about the day and time when you’ll publicize your listing. Most sellers believe that Thursday is the best day to officially list their home. By listing on Thursday, you’ll give people plenty of time to schedule a showing during the weekend or make plans to attend an open house on a Saturday or Sunday. You also won’t fall too far down the list of recent homes when people are checking for new properties on the weekend. Since many people know that Thursday is a prime time for making new listings public, you’ll often find listing websites flooded with new homes early Thursday morning. You don’t want to miss the majority of people who check for new properties after they get off work in the early evening, so consider waiting until around 5 pm to publish your listing.
Make the right upgrades
Choosing which home projects to take on requires knowing what buyers are looking for and understanding which improvements have the greatest ROI. Recently buyers have been most concerned with shopping for homes that offer upgraded outdoor living spaces and greater energy efficiency. If your home doesn’t already have a deck or patio, consider building one with enough space to hold a table and a few patio chairs. Make sure this space has plenty of lighting so that prospective buyers can utilize their deck even after the sun goes down. There are a number of ways that you can make your home more energy efficient that will also boost your home’s curb appeal, such as replacing your garage door or installing new windows.
Use creative marketing strategies
You don’t want to get so creative with your marketing that you neglect obvious tactics such as putting a “for sale” sign in your front yard. While it may seem outdated, it’s still a great way to get neighbors talking with friends and family about the availability of a home near them. You also shouldn’t count on this as your only marketing tactic. Many sellers are finding success through newer forms of advertising, such as short-form videos and promoted social media ad campaigns. Facebook ads are especially advantageous because you can target specific demographics based on age and geography. Facebook will also never spend more than the amount that you originally authorize on your ad campaign.