Selling your home is some of the most important life decisions you will ever make. It can be surprisingly time-consuming and emotionally challenging, especially if this is your first time. When you are selling your home, it may feel like an invasion of privacy as strangers will come into your home and poke around. They may criticize a place you absolutely love or talk about their ideas of changing it. And they might offer you less money than you think your home is worth! It is a complex, emotional transaction on your hands and it’s very easy to make lots of mistakes. However, with some knowledge about the real estate industry, you can avoid some, if not all, of these pitfalls. Read along to find out about the mistakes you need to avoid so that you can get the highest possible price within a reasonable time frame. You can also contact us for a Fast House Sale.
Table of Contents
1. Staying Emotional
It’s easy to get emotional about selling your home. You spent a lot of time and money to find the right one, saved up for your down payment, purchased your favorite furniture, and created many memories there. It is not easy to let it go. Getting emotional for a while is another thing and staying emotional is another. You are human and it is okay to feel sad or nervous but don’t let these decisions overcome your decisions. Start thinking of yourself as a businessperson and salesperson rather than just the homeowner.
2. Not to Hire an Agent
There is no point denying the fact that the real estate agents command a hefty commission which is usually 5% to 6% of the sale price of your home. But in most cases, it is not a great idea to try to sell your home on your own. If you have never sold a house before, it may be your biggest mistake. Doing it on your own is tempting, especially if you’ve seen all those “for sale by owner” signs on people’s front lawns. But it comes with its risks. A good real estate agent generally has your best interests at heart. A professional will help you set a fair yet competitive selling price for your home. An agent can also interact with potential buyers and eliminate tire-kickers who have no intention of making a real offer. Your agent will also help you save more money as they have more experience negotiating home sales than you. And if any problems arise during the process, as they commonly do, an experienced professional will be there to manage them for you. The best thing is that agents are familiar with all the paperwork and pitfalls involved in real estate transactions.
3. Setting An Unrealistic Price For Your House
Setting the right asking price is key to increase your odds of a quick sale. Keep in mind that the comparative market analysis our agent will do is essential in determining a fair offering price. Buyers will go to all lengths to determine the real value for your house so be a smart seller and set a realistic price. You may think your home is worth more, but set prices based on comparable homes in your area and you will not be disappointed.
4. Expecting The Asking Price
It is no secret that any smart buyer will negotiate the asking price. If you want to complete the sale, you have to know the art of negotiation. A lot of people list their homes at a price that will attract buyers while still leaving some breathing room for negotiations. At times, this strategy works well when you are trying to sell a home at a good price but are not much concerned about time frames. Our selling agents can help you set the right price and take care of the negotiations.
5. Selling During Winter Months
It may come as a surprise to you but there really is a right time to sell during the year. Winter, especially around the holidays, is typically not a good time to sell your home. People are busy with social engagements. Because fewer buyers are likely to be looking for a new home, it may take longer to sell your home. There is always a chance of getting less than you expected.Sometimes it can be an advantage as there are not many sellers but avoid taking the risk especially when you are working without a professional.
6. Not Posting Listing Photos
As most of the buyers look for homes online these days, and photos are crucial for selling your home. Showcase your home’s best assets to attract more buyers. Get in touch with us to sell your property fast.