Data-driven seller strategies like listing on the MLS could add more than $50,000 to your bottom line.
Nationally, the super-charged sellers’ market over the past few years has turned to a neutral one where buyers and sellers are on more equal footing. This requires sellers to be strategic, not only in their pricing, but in marketing their home to prospective buyers.
To help your selling experience go as smoothly as possible, we’re sharing home selling tips — backed by data — that can help you move forward to your next adventure.
1. Maximize exposure for your home
There are several ways to market your home. If you want to sell quickly and for the most money, your best bet is to list where the largest number of qualified buyers are able to view your home, on a Multiple Listing Service (MLS). An MLS is a database used by real estate professionals to share listings with other agents, their clients and real estate sites like Zillow and Redfin — which help listings get the most visibility possible. Research found that homes listed on the MLS sell for 17.5% more than homes listed on private networks known as “pocket listings” or “private listings.” That translated to $53,000 more for a typical seller who listed the home on the MLS in 2022.
Private listings, on the other hand, are available only to agents or brokers who are given access to them. They are often promoted as a way to increase privacy around a listing or test out a price before going to a wider audience. But a private listing can lengthen the time it takes to sell. According to a 2022 study by Bright MLS, 63% of homes that started as private listings were only sold after they eventually listed on the MLS.
2. Work with an agent you trust
Working with an experienced real estate agent who is an expert in local market conditions can help ensure your home is well-prepared, well-priced and expertly marketed. An agent can help you develop a timeline, determine what repairs or improvements might help you sell more quickly, and help you get maximum exposure to buyers by putting your listing on the MLS. In a recent Zillow study, 52% of Americans say their agent’s ability to get their home in front of the largest pool of interested buyers is among the most important factors when choosing an agent.
When hiring an agent to sell your home, interview several candidates. Read their reviews and references, and ask them about their plans for pricing, marketing and selling your property. Have them walk you through the benefits of their strategy and ensure you get a clear understanding of their plans to market your property. Insist on a signed agreement that includes listing your home as widely as possible, including on sites like Zillow, to ensure you get the maximum sales price for your home.
3. List your home in the spring
To help maximize your home sale profit in most markets, list your home in late May. Zillow data shows that spring is the best time to sell nationally because schools are on summer break and more buyers are shopping for homes.
Zillow data shows homes listed in the last two weeks of May sold for 1.6% more, a $5,600 boost on a typical U.S. home. However, the best time to list varies locally. For example, the research found the best time to list can be as early as the second half of March in San Jose, and as late as the second half of July in Miami, Florida. An experienced local agent can help you pinpoint the best time to list in your neighborhood.
4. Flaunt the right features
Putting your home’s best face forward can help boost your sales price. Zillow research found that buyers of a typical U.S. home paid as much as 3.1% more for certain backyard luxuries, including an outdoor TV, which was associated with a $10,749 premium compared to similar homes without one. Other features that could add thousands to your sales price if you call them out include a pizza oven, outdoor shower and bluestone patio. If you have popular features, be sure to include them in your listing description.
5. Pay attention to curb appeal
Your home’s exterior “curb appeal” is going to be the first thing buyers see, whether it’s online or in-person, and you’ll want to make a good impression. Look critically at your home from the street or in a photo. Does it appear inviting and well-maintained or neglected and cluttered? Think like a buyer, and try to see your home as they would laying eyes on it for the first time.
Before taking photos for online display, hide or get rid of eyesores, such as trash cans, parked cars, broken furniture or yard decor. Cut back overgrown trees and shrubs and remove any dead plants. Pressure wash siding, walkways and driveways to give everything a fresh sparkle that conveys a well-maintained home. Consider adding window boxes with flowers and giving your front door a pop of color. Consult with your agent, who will be familiar with buyers in your area and what appeals to them.
6. Boost online screen appeal
Today’s buyers usually start home shopping online, so your home should have “screen appeal,” in addition to curb appeal. Zillow research found that buyers want to experience a home online before they walk through it in person, and will pay more for listings that have a complete media package. Zillow Showcase listings that have high-resolution images, 3D home virtual tours and interactive floor plans sell for 2% more than similar homes. On a typical U.S. home, that adds up to a $9,000 premium. Be sure to discuss screen appeal with your agent as you develop your marketing plan.
7. Help buyers envision the home as theirs
Personal touches, such as family photos or keepsakes, can prevent buyers from seeing past your family and imaging theirs in the space. To the extent possible, remove the personal touches so that potential buyers can envision living there.
8. Consider neutral colors when repainting
If you’re planning to freshen up your home with paint, think about choosing a neutral tone. Like the absence of personal effects, a neutral tone can help buyers imagine bringing their own style to the space. Check out some of the best interior paint colors for selling your house.
9. Invest in improvements with resale ROI
Sometimes simple DIY projects can be surprisingly effective at bringing more attention to your listing. For instance, homes calling attention to window boxes get 48% more daily saves on Zillow, while open shelving and painted brick can boost daily saves by 37% and 32% respectively. These projects may also help a home get more daily views and shares on Zillow, which are strong indicators of buyer demand. Your agent should be able to tell you what popular features buyers are seeking in your market.
10. Price your listing right
Zillow’s Zestimate is a good place to start thinking about pricing. It gives you an estimated market value for your individual home, computed daily based on millions of public and user-submitted data points. You can estimate how much your home is worth by searching your address using ourZestimate tool. From there, claim your home and review your home facts to make sure they’re updated and correct. Adding details to your listing can influence your Zestimate and show potential buyers the most accurate value estimate for your home.
With that grounding, your agent can bring their expertise to further sharpen your understanding of what your home is worth. For example, they can show you comparable homes that sold recently in your area and share their knowledge of local market dynamics.
11. Research your local market
Well-priced homes are more likely to sell quickly, but pricing your home to sell quickly and for maximum dollar requires strategy and knowledge of your local market. You need to have a clear-eyed view of your home in relation to the competition, and knowledge about whether you’re in a buyers or sellers market. It also helps to know what buyers in your area can afford.
Zillow publishes monthly data that can help you:
- Determine whether you’re in a buyers or sellers market – or one that puts both on equal footing
- Gauge the competition by looking at how many homes are for sale
- See how quickly those homes are selling
- Understand seasonal swings and home value appreciation in your area
12. Do a pre-inspection and make repairs
Unless you’re in a strong seller’s market, buyers who make an offer on your home will likely have your home inspected and make the sale contingent on the results of that inspection. Paying for a pre-inspection of your home can give you a heads’ up on any problems that could jeopardize the sale if discovered by a buyer after an offer is on the table. Once you know if there are any issues, you have the option of either fixing things, selling as-is or negotiating credits with potential buyers.
13. Be flexible with showing times
Opening your home for showings can be a hassle, especially if you have young kids or pets, but most buyers do not buy homes sight-unseen. Being flexible around when you show your home can help you find the right buyer, who may work odd hours, have childcare issues of their own or be looking at several homes with their agent. If, like most sellers, you’re also buying your next home, you’ll appreciate the value of a flexible showing schedule.
14. Adjust the price if you’re not getting traffic
This is a tough one for sellers, but price cuts are increasingly common as sellers and their agents gauge a market where affordability is heavily influenced by mortgage interest rates. A home that was affordable to buyers one week can become unaffordable if interest rates climb. And, given the low inventory of the past few years, it can be hard in some places to find comparable homes on which to base your pricing.
If you decide to lower the price to attract more interest, don’t wait too long. Homes that sit on the market tend to develop a stigma. A local agent who is knowledgeable about local conditions can help you develop a marketing plan that achieves your selling plans, even if you have to adjust the price.
The good news: Well-priced homes still sell quickly, so doing your homework and working with an agent to strike the right price, develop a solid marketing plan and staying on top of trends can go a long way to helping you connect with the right buyer.