7 MISTAKES WHEN SELLING A HOUSE
1. Setting an Unrealistic Price.
Whether you’re working with an agent or going it alone, setting the right asking price is key. Remember the comparable market analysis you did when you bought a home to figure out a fair offering price? Buyers will do this for your home, too, so as a seller you should be one step ahead of the game. overpriced homes do not sell. Don’t worry too much about setting a price that’s on the low side because, in theory, this will generate multiple offers and bid the price up to the home’s true market value. In fact, under-pricing your home a bit can be a strategy to generate extra interest in your listing.
2. Not Preparing Your Home for Sale.
Sellers who do not clean and stage their homes are throwing money down the drain. If you can’t afford to hire a professional, that’s OK – there are many things you can do on your own. Failing to do these things will not only reduce your sale price but may also prevent you from getting a sale at all. For example, if you haven’t attended to minor issues like a broken doorknob, a potential buyer may wonder whether the house has larger, costlier issues that haven’t been addressed. Have a friend or agent with a fresh pair of eyes point out areas of your home that need work. Because of your familiarity with the home; you may have become immune to its trouble spots. Decluttering, cleaning thoroughly, putting a fresh coat of paint on the walls and getting rid of any odors will also help you make a good impression on buyers.
3. Neglecting curb appeal.
Prospective buyers might drive right past your home if its exterior doesn’t meet their expectations. Sprucing up can help entice them to look inside when they arrive for an open-house or private showing. Start with a fresh coat of exterior paint, clean-swept front porch, and well-maintained walkways. We recommend a neatly mowed front lawn and well-placed shrubs and flowers to enhance curb appeal.
4. Not Accommodating Potential Buyers.
If someone wants to view your house, you need to accommodate this person, even if it is inconvenient for you. And yes, you have to clean and declutter the house before every single visit. A buyer won’t know and care if your house was clean last week if it isn’t clean when he or she views it. It’s a lot of work but stay focused on the prize.
5. Trying to Hide Significant Problems.
Any problem with the property will be uncovered during the buyer’s inspection, so there’s no use hiding it. Either fix the problem ahead of time, price the property below market value to account for the problem or list the property at a normal price but offer the buyer a credit to fix the problem. Realize that if you don’t fix the problem in advance, you may turn away a fair number of buyers who want a turnkey home. Having your home inspected before listing it is a good idea if you want to avoid costly surprises once the home is under contract.
6. Not having a presentable house.
The presence of your family can make prospective buyers feel like intruders. If you’re at home when your home is being shown, be your usual friendly–but low-key–self and keep children and pets out from underfoot. It’s the agent’s job to show buyers what they need to see. Buyers can better focus on your home’s advantages by viewing them than by socializing. If an open house is scheduled, plan to be away from home, but let me know how to reach you quickly. I will ask the right questions to find out what their buyer thought of your home: if they didn’t love it – why and if they did love it – how we can close the sale!
7.Not Hiring an Agent.
Trying to sell your home on your own, especially if you haven’t done it before, is probably ill-advised. I will help you set a fair and competitive selling price for your home that will increase your odds of a quick sale. I can also help take some of the high emotion out of the process by interacting directly with potential buyers, so you don’t have to and eliminating tire kickers who only want to look at your property but have no intention of putting in an offer.
I will put my strong negotiation skills on use for you, potentially helping you get more money. Further, if any problems crop up during the process—and they commonly do – an experienced professional will be there to handle them for you. Finally, being a FULL TIME REALTOR, I am familiar with all the paperwork and pitfalls involved in real estate transactions and can help make sure the process goes smoothly.