60 LONGISLANDPRESS.COM • NOVEMBER 2021
HOW TO SELL FOR TOP DOLLAR IN TODAY’S HECTIC HOUSING MARKET
continued from page 59
“The eff ects of Covid-19 on the housing
market—recession-induced low mortgage
rates coupled with the work-fromhome
trend allowing buyers to search
deeper into the burbs—are still at play
and driving the housing market forward,”
according to a recent Fortune.com piece by
Lance Lambert.
In today’s housing climate, you can easily
get top dollar for your property without
investing time and money into extensive
updates, says Melissa Infanzon, licensed
real estate salesperson, Lucky To Live Here
Realty, Cold Spring Harbor.
“Major renos also run the risk of updating
your home to a preference that could turn
a potential buyer away, and/or will cost
a buyer more money to modify to their
tastes, which could negatively impact an
offer price,” she adds.
John McSherry, licensed associate real
estate broker, Douglas Elliman Real Estate,
Garden City, notes: “Every market is
diff erent, so it's important to have a guide
who understands local inventory, days on
market, and pricing strategies.”
To increase visibility and desirability, hire
an agent who understands decluttering/
staging/photography:
“Less is more, and put your best foot forward,”
McSherry adds.
Next step: marketing the property/creating
demand:
“It’s imperative to have an agent who can market
your content across all social media/real
estate platforms,” he notes. “And remember:
Attention is currency.”
“Most buyers are looking for a move-in ready
home. First impressions are top priority,” says
Compass Greater NY (Long Island) agent Tsui
Ying (Judy) Hsu. “The landscaping captures
that. Also, less furniture; paint walls with
neutral colors.”
Infanzon and her team also help clients
get the highest and best off ers. A current
seller took her advice and did the following,
as they prepared to list their Huntington
home, at 88 Vineyard Rd.:
Power washing
Cleaning, sealing stone floors
New tile, paint - primary en suite
bathroom
Rear deck replaced with Ice wood
Freshly landscaped
Sealcoated driveway
Touched-up paint; new light bulbs
Organized; took down family photos
“When you look at the cost-benefit analysis
of preparing your home for sale, in
today’s market, less is more when it comes
to upgrading,” Hsu notes. “While minimal
updates, i.e., power washing, will add value
to your curb appeal, big renos like new
flooring, aren’t always necessary to still
get the best offers.”
What will drive the strongest off ers is
always focused on the seller’s individual
needs and these three critical components
– asking price, marketing approach, and
off er terms – according to Infanzon, who
says:
“When we advise clients on best pricing
strategies, we evaluate: What is their
timeline to sell? Are they planning on leveraging
a like-kind exchange to purchase
a new property? Do they need to sell this
property to purchase their next home? How
much equity do they have in their home? Is
there a profi t goal they are aiming for? By
knowing what is most important to you
and your future, we are able to strategize
on what will yield the best off er for you.”
She adds: “You need to cast a wide net and
work with the other 40,000 agents in New
York State. In-house exclusives signifi cantly
reduce the buying pool.”
Since the market is moving so quickly now,
making sure that only the most qualifi ed
buyers are coming through your home is
crucial.
“We ensure due diligence is done before
we open your doors to just anyone: Proof
of funds before showings, understanding
where buyers are in their purchase cycle,
marketing strategically to the most qualifi
ed buyers, etc.,” Infanzon says. “This not
only helps control things like the spread
of viruses, but it also ensures that we can
move quickly and confi dently when a buyer
submits an off er to purchase your home. “
“A blend of new-age and traditional marketing
will always attract the most buyers to
get you the best off er on your home.”
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