Berkeley is one of the most desirable cities to live in the Bay Area. With a thriving art community, a fantastic food scene, and proximity to an array of outdoor attractions, it’s no surprise that the city takes in new residents each year.
For homeowners in the area, putting up your house for sale in Berkley has a high potential to net you a sizable return on your investment (ROI). To ensure top dollar for your home and a smooth transaction throughout, below are a few tips to keep in mind.
- Find a real estate agent
An agent can guide you and recommend home improvements to maximize your ROI. And there’s data that supports working with a professional or team of agents does make a difference.
According to The National Association of Realtors (NAR) 2021 Profile of Home Buyers and Sellers, agent-assisted home sales sold for $58,000 more than For Sale By Owner (FSBO) homes.
If your goal is to get as much as you can on your Berkeley home, consulting the pros is the way to go. Consider reaching out to top Bay Area agents like JC and Heather Gonzalez.
- Make the necessary updates
To get the most bang for buck on your property, it’s important to make crucial updates prior to the home sale.
NAR revealed in its annual Remodeling Impact Report that updating hardwood flooring and other worn-out surfaces resulted in a 147% recovery of project cost upon selling. Other cost-effective projects mentioned were an insulation upgrade (100%), closet renovation (86%), and kitchen updates (67%).
But bigger is not always better. Sweeping, high-end renovations rarely result in a decent ROI. So, think twice before splurging on that gourmet kitchen, an additional swimming pool, or pricey imported tiles.
First, assess what your home truly needs from a safety and convenience standpoint. A new roof or better plumbing is more practical and can give buyers peace of mind. NAR found that on average, sellers recovered $8,000 on average from a new and improved roof.
Next, think about how you can stand out in the market. For example, repainting your living spaces can greatly enhance property value and entice more buyers to inquire about the property.
- Invest in professional staging
Buyers are attracted to a home that has personality, especially one that aligns nicely with what they’re looking for. Finding a theme and sticking to it can greatly improve buyers’ desire for your home — whether it’s simply adding to an existing architectural style or trying to achieve a particular aesthetic.
It’s highly recommended to seek expert advice when staging your property. Your agent can recommend a professional who can help find the appropriate theme or aesthetic. They can also recommend a range of strategies to get buyers even more excited about the property, such as:
- Finding the right mix of patterns. Applying patterns (colors, sizes, and shapes of various elements in a room) can be challenging. The trick is to identify dominating and complimentary patterns to find the right balance.
- Creating emphasis points. Having a point of emphasis in any given room can be the wow factor that will convince buyers to make a serious offer. This can come in a variety of forms, such as a piece of artwork, a cozy fireplace, or even a small yet elegant coffee table.
- Maximizing the use of proper lighting. Skilled stagers are resourceful and depending on what’s possible in a particular area of the house, they will utilize a mix of natural and artificial lighting to create the best look.
- Consult your agent on the nuances of California real estate
Whether you’re planning to put your Berkley Property (or elsewhere in California for that matter), there are special rules and requirements that you need to abide by.
For instance, California requires highly detailed home disclosures. It’s standard procedure for sellers anywhere in the state to prepare extensive disclosures about their home. You’ll need to cover a range of areas, including features, current condition, material defects, zoning violations, possible pest issues, lawsuits affecting the property, as well as title problems.
Work with your agent to create a comprehensive disclosure packet (including inspections) ready for potential buyers upfront.
- Write a letter to prospective buyers
Consider adding a personal touch to the real estate transaction. Write a letter to prospective buyers and tell an engaging story about the property.
Apart from highlighting standout characteristics — be it top-tier amenities, proximity to good schools, and location — think about your property’s unique backstory and history.
In a competitive Bay Area real estate market, telling an engaging story about the property can give you an edge over other sellers. Moreover, a dose of charm and character can make buyers fall in love with the house even before they step inside.
Crafting this story doesn’t have to be complicated. Focus on the basics, like how you wound up owning the property in the first place. Did you move in with your partner and start a family there? Or, was it the first place you owned after moving out of your parents’ house many years ago?
Next, mention the odd little quirks about the property that you’ve learned to love over the years. Are there interesting personalities around the neighborhood who made life there even more pleasant?
Keep things concise. There’s no need to get overly personal with it. You can ask your agent to take a look at what you’ve written before putting it in the listing or sharing it with buyers.
- Time your property sale perfectly
Savvy sellers will make sure timing is on their side. However, the right timing will depend on a couple of factors: whether you’re looking to sell fast or for a higher profit, and the type of property you own. Much like the rest of the Bay Area, the best time to sell your property in Berkeley is typically during the spring and autumn. Although with tight inventory and high demand, the exact timing of the sale becomes less of a concern.
Work with your agent to develop a strategic marketing plan that takes into account the following key factors:
- If you’re planning to make a quick sale, April has historically been the best month to do so since many buyers prefer to snag a home before the summer break (buyers often move to a new place during the summer when school is out). Plus, prices are typically highest during spring when the weather is most pleasant — when people are more likely to get out and attend open houses.
- During spring time, you’ll also have an easier time highlighting the best features of your property. If green space or a stellar backyard is one of the standout traits, these areas will look their best when the flowers are in bloom and there are clear skies all throughout the day.
- With properties that lack outdoor amenities, the autumn months can be a good time to sell. A casual and formal dining room, private bar and home theater, and a host of other top-notch indoor features are what several buyers focus on as the holiday season approaches.
- Set the right price
Pricing your property is key to a successful sale. Price it too high and buyers will be discouraged from even inquiring about the listing. Pricing it low can attract demand, but if you go too low, you could create distrust for the condition of the property. Work closely with your Realtor on the best pricing strategy for your property.
To find an ideal price range, consider the following factors:
- Home location
- Square footage
- Number of rooms and amenities
- Sale price of comparable homes in the area
All of this information can be found in a comparative market analysis (CMA), a comprehensive report that will help you find the right price for your property. Most of the info needed for a CMA is sourced from the Multiple Listing Services, a vast database of properties that licensed real estate agents have access to.
Your real estate agent can also generate a CMA for you and help you accurately interpret the sea of information at your fingertips.
- Work with an agent who has expertise to boost your online presence
Since 2020, the entire industry has gotten better at creating a virtual real estate experience. The ability to go through a house tour without actually being there in person has proven to be quite convenient.
As a seller, going virtual can help you reach more people. Potential buyers can view your pre-recorded property tour at their convenience without you needing to make preparations for an in-person meeting.With today’s easy access to smartphones, a do-it-yourself walkthrough might seem appealing, but there’s no guarantee that quality will be up to par with the competition.
For the highest ROI when going digital, the best approach is to seek guidance from your Realtor. Most real estate professionals are quite adept with creating virtual home tours. When selecting a Realtor to work with, it’s important to make sure their marketing service package covers digital and social media marketing.
JC and Heather Gonzalez have all the tools and resources that you need to successfully close a transaction. You’ll have access to seasoned photographers, stagers, and virtual tour creators in our professional network.
JC and Heather Gonzalez will help you sell your Bay Area home
We are a dynamic husband-and-wife team focused on helping you achieve your real estate goals here in the Bay Area. Whether you’re moving to one of SF’s gorgeous neighborhoods or planning to put up your house for sale in Berkeley, our proven expertise is at your disposal.
We understand the challenges that many buyers and sellers face in one of the hottest real estate markets in the country. For well over 19 years, we have helped countless clients hurdle those obstacles to secure the best real estate deal – one that aligns with their lifestyle and aspirations.
Get in touch with us by phone for a private consultation. You may reach out to JC or Heather. You can also send us a message via email.