Tips for Selling Your New York City Home

Jul 31

Are you thinking of putting your home on the real estate market?

Selling your New York City home is a big decision—one that requires careful planning and expert guidance.

While it may seem intimidating at first, it doesn’t have to be. With the right strategy and resources, selling your home becomes a straightforward and easy process.

Tip #1 Decide When to Sell

There's never really a bad time to sell in New York City; it's one of the hottest real estate markets in the world. That said, less motivated buyers might avoid the dark winter months and scorching summer months.

Spring is the period when most homes get listed, but it's also when sellers have the most competition.

It’s best not to worry about timing the market but to plan to sell when it works best for your personal circumstances.

Tip #2 Plan Ahead & Prepare Your Home

Don't expect to list your home right away. A strong selling price comes from the right amount of preparation.

Get started on the right foot by:

Hire a NYC real estate attorney and consult with a CPA.
Consider minor updates. These should be strategic improvements that add value and attract buyers. Consult with your team to decide if necessary.
Declutter and de-personalize your space.

Tip #3 Connect with a Real Estate Agent

The New York City market is always shifting, and you want to make sure you have the right representation and guidance through your sale. Experienced agents know how to establish a competitive pricing strategy, market a property, and negotiate the best contract terms.

You want someone by your side who’ll maximize your profits, help you sell at the desired price (no leaving money on the table), and do it all in record time. After all, who wants to wait forever for a buyer?

Tip #4 Understand Closing Costs

While many sellers focus on the sale price of their property, it’s crucial not to overlook an essential aspect that directly impacts your bottom line: closing costs.

These often underestimated expenses play a significant role in determining your net proceeds (the actual amount of money you’ll pocket from the sale).

Closing costs in New York generally range from 8% to 10% of the total sales price.

What exactly makes up these closing costs? It’s a combination of:

Transfer taxes
Attorney fees (required by law in New York)
Real estate commissions (typically around 6%)
Escrow fees
Home inspection fees
Appraisal fees
Any necessary repairs
Seller concessions
Title Insurance

Tip #5 Stage Your Home For Success

New York City homes are often small, so you want to make sure you are maximizing space and presentation. Staging allows you to do just that.

When you’re staging your home, the key is to make it as marketable as possible. Staging helps your property stand out in online searches and when people come to see it in person. Less is more when it comes to staging, so keep things simple and neutral to appeal to a wide range of potential buyers.

While staging comes at a cost, according to the National Association of Realtors, it can add 5-14% to a home's sale price and help it sell faster. 81 percent of buyer's agents reported that staging helps buyers visualize themselves in a home and leads to higher sale prices.

Selling your home is not just about finding a buyer; it’s about maximizing its value and ensuring a smooth transaction. An expert real estate agent will get you through the process from start to finish, ensuring you get the best deal possible.

Don't settle for anything less than the best when it comes to choosing your NYC real estate partner. Choose About Real Estate NY for a successful home-selling experience.

Beth Frazier