How to Avoid Costly Mistakes When Selling Your HomePosted on 05/15/17
Selling a house is a big ordeal. Not only is it a huge financial transition, but often, memories are attached to a home. This makes it an even more involved experience, one you don’t want to drag out.
However, if you enter the real estate market unprepared, that “For Sale” sign may stay on your lawn a lot longer than you planned. Here’s how to avoid some of the most common mistakes sellers make and move your home quickly.
- Don’t Try To Sell It Yourself
A “For Sale By Owner” sign often leads to a great deal of miscommunication or missed communication that loses the sale. Selling a house is about more than transitioning paperwork. The home has to be staged, listed in MLS, and you have to be available to show it to potential buyers. The demands of selling a home outweigh the prospective six percent savings from a realtor’s commission. Plus, according to the National Association of Realtors, the average home sold for $210,000 without a realtor and $249,000 with a realtor. Even after the realtor’s six percent take, you’re left with $25,000 more than if you tried to sell it yourself!
- Don’t Ignore Your Realtor’s Listing Price
More than half of all real estate agents agree: the top problem when a home isn’t selling is it’s overpriced. Sure, you love the house. You’re invested, both financially and emotionally. Plus, you’re hoping to get as much bang for your buck as you can. But letting your emotions dictate the price, rather than your realtor’s market research is a costly mistake. When you list your home far above what buyers’ are willing to pay, they low-ball in their offers. Ultimately, your home can sit on the market for too long and you’ll end up settling for less than if you priced the home correctly.
- Don’t Assume Buyers Will Overlook Your Junk
A lot of sellers resist their realtor’s advice to declutter their home and remove any personal items. They typically respond with something like, well, the buyer knows all of this will be removed once the home is sold, so they can look passed it to the bones of the house. This faulty reasoning usually delays the sale for two reasons. One, you can never underestimate a first impression. Buyers make up their minds about a home within the first 15 seconds. Two, it isn’t a buyer’s job to see your home in its best light; they can only see what you put in front of them. It’s your job to stage your home in its best light.
For more ways to stage your home, call Kerry Veach today.