The combination of Seller's Market, pandemic, historically low interest rates all have created a sense with some homeowners that the selling process is simple enough to go it alone. But before you make a hasty decision, it pays to do your homework. We’ve put together 7 of the most common seller mistakes to help you prepare your home for sale and net most money from the sale of your home.
1. For Sale by Owner
Trying to sell your home by yourself, especially during these challenging times can lead to legal woes and lost return on investment. You need the expertise of a professional to guide you through this process, negotiate in your best interest, ensure your house gets lots of exposure, and contracts and addendums are buttoned up. And the numbers don’t lie: homes without representation remain on the market longer and end up selling at a lower price than those with a pro at the helm.
2. Pricing Your Home
Overpricing or underpricing is a huge and costly error. It’s critical to understand your market. Now, more than ever, it's critical to carefully review comparable sales in the area, take a realistic look at your home and discuss the positives and negatives of different pricing strategies with your agent to determine what will work best for you.
3. Neglecting Necessary Repairs
Taking the time to get your home ready for sale is one of the most important steps in the selling process. You only get one chance to make a first impression and a great first impression can translate to actual dollar value – especially in a competitive market. Even small cosmetic issues can be a red flag for potential buyers, as they can feel like signs of neglect or larger problems with the property. Your home should look well cared for and maintained. An experienced real estate professional can help you to determine what work needs to be done and how it could affect the value of your home in the local market.
4. Refusing to Tidy Up Before Listing
Clean up and declutter. Potential buyers need to be able to picture themselves in your home – too much clutter, personal items or disorder can be distracting and turn buyers off. Clutter eats equity and kills deals. From the kitchen countertops to the overstuffed closets to the trophy-lined shelves in the den, it’ll cost nothing to get rid of all that stuff.
5. Using Unprofessional Photos
Proper preparation also translates to a well-executed marketing plan. Your home should show at its best in person as well as in the property photos and collateral materials. As more and more buyers are turning to the internet to begin their home search, we rely on excellent photography to make a great first impression. Ditch those iPhone or point-and-shoot images. Professionally shot and staged property photos are an absolutely essential sales tool.
6. Letting Your Ego Get in the Way
Many sellers take negotiating personally and lose out on creating a win-win deal (if not the entire deal). Remember, this is a business transaction — perhaps the biggest one of your life. A real estate professional can provide the objective and experience perspective necessary to negotiate from contract to close.
7. Not Using Virtual Tools
In this market, buyers are purchasing site unseen -- at least in person -- in many circumstances, even in a luxury market. They are being shown properties using virtual tools that make it simple to explore properties in a safe and convenient way. We can offer technology that can virtually bring your home into the homes of buyers all over the world at the click of a mouse!
If you're thinking of selling in this market, give us a call. We can help get you the best price and terms all while keeping your family and home safe and sound! Let's talk, I’m happy to consult with you about what your home is currently worth in our market!
