Make Sure Your Listing Stays Active With These Tips

The process of listing an NYC home for sale, whether you’re in Tribeca, Manhattan, or the Upper East Side, has many detailed steps, but the ultimate goal is a fast, stress-free transaction with as big a profit margin as possible. As a seller, you’ll have many responsibilities prior to listing NYC luxury real estate, so it’s crucial you get prepared, stay vigilant, and hire the best help possible.

When it comes to Upper East Side real estate and other surrounding neighborhood homes for sale, here are a few ways to ensure they don’t languish on the market.

The very first thing to do before listing an Upper East Side or other NYC home is to hire a licensed real estate agent who has several years of recent experience helping clients sell their homes. The current median home price is $1.5 million, but rare and refined homes sell for much more.

While sellers who have owned Upper East Side, Tribeca, or other NYC real estate for many years can expect an impressive payday after the transaction, they should never think that there’s easy money to be made. Sellers will not only be angling to receive many offers for a high price, they’ll also be competing with other sellers eager to achieve the same goal.

 

The first thing your NYC realtor will do is assess your Upper East Side, Tribeca, or Manhattan real estate and determine if it’ll require any repairs or upgrades. A smart agent who has been working in these neighborhoods for years will not only have a gut feel for the price you should set but will use data to ratify it. They’ll run a comparative market analysis (CMA). where they compare your residence with similar homes that have sold recently and that are currently in the borough. The CMA will compare square footage, number of bedrooms and bathrooms, and any special features your home has to set fair market value.

It's imperative to come in with a fair market value using your head—not your heart. Setting the price of Upper East Side and other NYC condos too high can be a critical mistake right from the start that’ll put your listing at a disadvantage. If your price is too high, savvy buyers and their agents will skip right over it and focus on other listings. Setting the price too high is almost always the top reason why a listing doesn’t attract offers.

An overpriced listing can sit on the market for weeks on end with no action, leading some buyers to think there’s something wrong with the residence. You’ll almost certainly have to lower the price at some point to get some action on the listing.

Setting the price too low, however, can cost you some big money, cutting into that equity you’ve built up over the years. One strategy you can implement is to set the price just below market value to attract several offers—and maybe even start a bidding war. You may end up with various nice offers right off the bat, or you can counter offers that are the most solid. Your Manhattan realtor will then begin negotiation on behalf of reaching a deal.

While your agent works on pricing your Upper East Side or other NYC real estate, your task will be to declutter it by removing as many possessions as you can. It’s best to clear out 50% of your belongings, including from closets and other storage areas. You’ll be surprised at how much more attractive your home will look without all that stuff in it, and buyers will notice, too. They want to see how much room they’ll have for their furniture and belongings. Plus, decluttering gives you a head start on packing and moving. Remove any personal items such as family photos on the walls, hobby items, collections, knick-knacks, and children’s toys.

You should also remove any extraneous furniture that’s only getting in the way as part of staging your home, such as end tables and chairs. Arrange the remaining pieces to show off the floor plan of your Upper East Side, Tribeca, or Manhattan real estate and add some neutral decor, such as throw pillows, area rugs, and wall hangings. The goal is to give off a dazzling first impression the minute buyers walk in for a showing.

This is also the time to make any necessary repairs. Check all appliances and systems, such as the heating and air conditioning, to make sure everything is working. Fix any leaky faucets or toilets and replace any burned-out lightbulbs. Patch any dings in the walls and fix broken blinds. This isn’t the time for major renovations, but you should make quick, inexpensive upgrades such as replacing outdated light fixtures (especially in the kitchen and bathroom) that will deliver a great return on investment. You can also perk up the look of your kitchen with new cabinet hardware and drawer pulls. The more attractive your home, the more interest it will get from buyers.

No matter which neighborhood or borough you live in, from Tribeca to the Upper East Side, you can impress potential buyers with a nice deep cleaning and a fresh coat of paint. Having your home in as close to a move-in condition as possible will attract the attention of buyers and help spur a nice offer. A home that appears messy and in disrepair is a turnoff, no matter how hot the NYC real estate market is. For buyers, it can be a big red flag that there might be problems lurking underneath the chipped paint.

 

The days of putting a “for sale” sign in front of your home and handing out flyers are long over. Savvy buyers who want to see as many homes as possible will spend hours perusing listings on real estate websites—especially in an international destination like New York City. Your Manhattan realtor will have a long list of great tips for producing a sharp online listing that will stand out in the crowd. One of the best ways to ensure your Upper East Side or other NYC real estate sells quickly is to hire a professional photographer. Having professional photographs and video to accompany your listing is critical, as buyers may be coming from far outside the metropolis to buy and will want to be prepared by researching your home.

Whether you live in the Upper East Side, Tribeca, or any of New York’s other bustling neighborhoods and boroughs, once you’ve decided to list your home for sale, contact Manhattan luxury real estate specialist Chris Fry for the best local guidance and market insights.