Selling your home is one of the most significant financial moves you’ll ever make. Do it right, and you’ll walk away with a pile of cash. Make costly mistakes, however, and you could leave a lot on the table.
A lot is involved in selling a home: setting the right price, presenting the home in the best light for showings and everything in between.
Here are some of the biggest mistakes to avoid.
1. Picking the wrong agent or skipping one entirely
There are numerous factors to consider when choosing a listing agent, such as their qualifications, experience and knowing the correct questions to ask prospective agents. You want the best, not necessarily your best friend.
Choosing the right agent can make or break your sale. You shouldn’t even consider listing your own home unless you’re intimately familiar with the sales process, in no rush to sell and ready to let licensees take advantage of your inexperience.
2. Ignoring your local market conditions
Checking recently sold homes that are comparable to yours will give you some idea of how much to list for, what level of staging you’ll need and how quickly you can expect to make a sale.
While every home is unique, comparables are an invaluable starting point for your sale. Agents will usually present you with a listing presentation, a comprehensive guide to their goals and expectations for selling your home.
3. Poor Staging and Presentation
You want potential buyers to love your home. That means addressing any issues and appealing to the widest range of buyers.
A good agent closely understands what buyers are looking for and what will sell.
Gray walls may be your thing, but if local buyers consistently disagree, you’re doing yourself no favors.
4. Pricing too aggressively
Pricing can be difficult. If you’ve invested a ton of money on your home renovations, you might feel you need to recoup your costs. But buyers can see a price that is too high.
Consider buyer psychology in any market: A too-high list price may scare them away, while competitive pricing encourages a bidding war as buyers hope to out-compete other offers.
If you don’t receive offers within your listing’s first two weeks, your price is probably too high.
5. Not considering every offer
If you’re also unwilling to consider nearly any offer people throw at you, expect to be disappointed.
If you receive a less-than-satisfactory offer, counter back with what you expect. If there’s ever friction between you and your agent regarding setting and negotiation expectations, be sure to speak up and resolve the issue.
Take control of your home sale
If you’re like most people, you’ve hired a professional to help sell your home. But that’s no reason you shouldn’t be involved.
Understand the process, make sure you’re getting the service you’re paying for, and work alongside your real estate agent to make sure you get the best possible price when you sell.
You could end up thousands richer as a result.
Add a Comment