Netflix's Selling Sunset has returned for a sixth season – and with it comes a chance to look around LA's most luxurious properties with the city's most renowned real estate agents. Among them is Emma Hernan: the Boston native responsible for selling some of the Oppenheim Group's most remarkable properties.
Emma recently sat down with H&G to share some of the biggest lessons she's learned throughout her years in the industry – including selling tactics that will add value to a home. The most powerful way to achieve a higher price, however, involves going lower in your asking price.
'Coming on too high is the absolute worst thing that any seller can do. I've seen it firsthand; you always get more by asking for less,' Emma says.
'People often think they should go higher because they want more, but no. I tell my clients they don't need to accept any offer they don't want – but going lower always tends to get you more money.'
Though it may initially sound contradictory, Emma explains that, in the long run, clients often make more money by starting lower – especially when we account for carrying costs that come with having a home on the market for a more extended period.
'Most people think that going higher, you’ll get closer to the price you want – but the problem is that a house will sit on the market for too long. Then you will have to make one price reduction after another, and all that, it’s sitting on the market with a carrying cost,' she says.
'If you had gone lower from the start, they likely would've received multiple more offers in that time.'
So, going lower is one of the most impactful ways to make more money overall, but what more can we do to clinch a sale?
While there is lots of research about which room colors sell a house the fastest, Emma recommends styling with one rule in mind: go timeless and traditional.
'Some people tend to lean too far into a trend or color palette – but they should stick to a more timeless and traditional decor that appeals to a wide range of buyers,' she says.
'You need to think about it like this: just because it's something you like or want, it doesn't necessarily mean everybody will want that. And regardless – even if you're going to live in a home for five or 10 years – when you sell it, you will want a buyer to be interested in the house. You have to keep the house timeless and traditional. That's the biggest piece of advice I can give.'
