Selling your home is serious business. It does not only involve financial matters. It is also an emotional experience, whether you’re selling a starter home or your forever home. Avoiding mistakes is winning half the battle.
Here are missteps you must watch out for:
Letting your emotions rule
Don’t fall into the emotional trap when selling your first home. Sure, the memories and many firsts are priceless. But your head must rule over your heart. Position yourself as a buyer and look at your house from their point of view. How do you make your house attractive to the most number of buyers as possible? If you need to repaint, choose neutrals. When you tidy up, remove personal keepsakes like family photos. The idea is to make buyers imagine themselves living in your home.
Not getting a real estate agent
Since an agent usually asks 5% to 6% of the sale price, you may be tempted to sell the home yourself. But a National Association of Realtors report says FSBO (For Sale By Owner) homes sold at a $217,900 median price, compared to $242,300 for houses an agent brokered. Agents are experienced in home selling. They can price your property right, remain objective, negotiate better, and spot serious buyers. They know the paperwork involved, and can give you the real estate advice you need.
Setting an unfair price
Right pricing is important. Buyers expect a fair price after making a Comparative Market Analysis (CMA). So don’t overprice. As much as 70% of real estate agents agree that overpricing a home is a number one mistake for sellers. Not only do you waste time waiting in vain for someone to buy your home. When you have finally decided to lower your price, you would have lost a lot of opportunity to profit from the sales proceeds.
Scrimping on listing photos
A lot of buyers go house hunting online. They examine every detail of the photos they see. Capture their attention fast with high resolution, clear, crisp visuals of your home. Use lots of natural light to highlight your home’s assets. A wide-angle lens gives would-be buyers a good idea of how rooms look like. Get a good real estate photographer if you can. As for videos, opt for one which gives a 360-degree view of the area or a walk through your home. For best results, hire a professional real estate photographer.
Hiding big problems
You can’t conceal them when the buyer orders an inspection. So deal with it beforehand by fixing the issue early on. Otherwise, you can charge below market value. Or list your home at the usual price, then offer credit to address the issue. It’s wise to hold a home inspection before listing so you can skirt costly surprises once the home is under contract.
Skipping the staging process
Your home must look its best. Clean it. Replace a broken doorknob or leaking faucet. Repaint. Get rid of overgrown weeds. Declutter. Banish foul odors. Ask a friend or the agent to show you which areas need fixing.
Being unavailable
You may have to give up weekends or evenings to accommodate a buyer. But you’ll never know if the person is the right buyer if you don’t go the extra mile.
Ready to sell your property? We offer sound advice in selling a home. Call 954.644.9118 or contact us here.