Selling your home is one of the most important financial moves you will ever make. Do it right, and you’ll walk away with a lot of money. Make costly mistakes, though, and you can leave a lot on the table.
There is a lot involved in selling a home: setting the right price, presenting the home in the best possible light for showing and everything in between.
Here are the biggest mistakes you should avoid.
1. Choosing the wrong agent or skipping one altogether
There are many things to consider when choosing a listing agent, such as their qualifications, experience and knowing the right questions to ask prospective agents. You want the best, not your best friend.
Choosing the right agent can make or break your sale. You shouldn’t even consider listing your home unless you are familiar with the sales process, don’t rush the sale and are prepared to let the licensees take advantage of your lack of experience.
2. Ignoring local market conditions
Checking out recently sold homes like yours will give you an idea of how much you can list, what level of staging you’ll need and how quickly you can expect to sell.
While every home is different, comparisons are an important starting point for your sale. Agents will usually present a listing presentation, a complete guide to their goals and expectations for selling your home.
3. Poor staging and presentation
You want potential buyers to like your home. That means dealing with any issues and attracting a wide range of buyers.
A good agent understands closely what buyers want and what will sell.
Gray walls may be your thing, but if local buyers don’t always agree, you’re not doing it right.
4. The price is very strong
Pricing can be difficult. If you’ve invested a ton of money in remodeling your home, you may feel like you need to recoup your expenses. But buyers can see a much higher price.
Consider buyer psychology in any market: Too high a listing price may scare them off, while competitive prices encourage a bidding war as buyers hope to outbid the competition.
If you don’t receive an offer within the first two weeks of your listing, your value is probably too high.
5. Not considering all the offers
If you are also not willing to consider any offer people throw at you, expect to be disappointed.
If you receive an offer that is less than satisfactory, challenge your expectations. If there is a conflict between you and your agent regarding the setting and expectations of the interviews, make sure to talk and resolve the issue.
Manage the sale of your home
If you’re like most people, you’ve hired a professional to help sell your home. But that’s no reason you shouldn’t get involved.
Understand the process, make sure you’re getting the service you’re paying for, and work closely with your real estate agent to make sure you’re getting the best price when you sell.
You can end up thousands richer because of it.
Source link