Without the proper guidance, you are bound to make home-selling mistakes that can cost thousands of dollars. Gone are the days when real estate was a guarantee for financial success. Remember how easy it used to be? Purchase a property, hold onto it for a little while, and then sell it for a significant profit. Rinse and repeat. However, times have changed.
While the market is currently doing well, home prices are still lagging behind their peak. Not to mention, buyers are becoming more selective, and a significant percentage of the homes listed for sale are left unsold. To avoid making costly home selling mistakes, here’s an exclusive insight to sell your home quickly and for maximum profit.
7 Costly Home-Selling Mistakes
So How Can You Avoid These Home-Selling Mistakes?
The 9-Step System to Get Your Home Sold Fast
and For Top Dollar!
Selling your home is a significant milestone in your life. Therefore, the 9-step system will equip you with the necessary tools to increase your profits, stay in control, and minimize the stress that often accompanies the home-selling process. Following these steps will help you avoid home-selling mistakes AND help you sell your home quickly and for maximum profit!
Know why you’re selling, and keep it to yourself.
When deciding to sell your home, the reasons behind your decision will impact everything from pricing to the amount of time and money invested in preparing the property for sale. So, prioritize what matters most to you: the final sale price, the length of time the property is on the market, or both. Each objective requires a different approach.
Remember, it’s best not to disclose your reason to anyone else as it may be used against you during negotiations. Instead, simply state that your housing needs have changed when asked.
Do your homework before setting a price.
Choosing the right price for your property is a critical decision that requires thoughtful consideration. It’s crucial to remember that once you’ve set the price, it’s the highest amount buyers will have to pay.
Here are some factors to keep in mind:
Do more homework.
Your agent should be responsible for researching the sale prices of homes in your area over the past 6-12 months, as well as current listings. This is how potential buyers will evaluate your home’s value.
Want to know how much your house is worth? Your home value is an important piece of information when selling your home. The guide above will walk you through how to find your home value and the ways it can be used. There, I answer all your toughest questions and give you valuable insight into the question “How Much Is My House Worth?”
Find a good real estate agent to represent your needs.
According to recent studies, almost 75% of homeowners reported that they would not rehire the same realtor who sold their previous home. The root cause of this dissatisfaction can be attributed to inadequate communication, resulting in a lack of feedback, lower pricing, and damaged relationships.
Maximize your home’s sales potential.
Appearance is everything. Corporate North America spends billions on product and packaging design for a reason. When selling your home, you may not be able to change its location or layout, but you can control its appearance. Remember that your home’s look and feel generate a greater emotional response than any other factor. Before showings, put in the extra effort to clean every nook and cranny, pick up clutter, and fix any and all issues – no matter how small. The goal is to create a “WOW” response from potential buyers.
Buying a home is an emotional decision, not a logical one. Prospective buyers want to envision themselves in your home, like trying on a new suit. If you follow them around pointing out improvements or your personal decor is too overwhelming, it’s hard for them to feel comfortable enough to imagine themselves as the owner. So, let your home speak for itself and allow buyers to explore and see themselves living there.
Make it easy for prospects to get information on your home.
You may be surprised to know that some marketing tools that most agents use to sell homes (eg. traditional open houses) are actually not very effective. In fact, only 1% of homes are sold at an open house. Furthermore, the prospects calling for information on your home value their time as much as you do. The last thing they want to be subjected to is either a game of telephone tag with an agent, or an unwanted sales pitch. Note that the more buyers you have competing for your home the better because it sets up an auction-like atmosphere that puts you in the driver’s seat.
Take control of the process.
To succeed in negotiations, it’s essential to control the pace and set the duration. Understanding your buyer’s motivations is crucial. Do they need to act fast? Can they afford your asking price? Having this knowledge gives you leverage and helps you push for what you want. Remember, being in control of the process is key to achieving your objectives.
Make sure the contract is complete.
When it comes to selling, transparency is key. A smart seller will take it upon themselves to disclose all known defects to potential buyers in writing, going above and beyond what’s legally required. Be sure to detail all terms, costs, and responsibilities in the contract of sale, and avoid deviating from it. For instance, if a buyer asks for an early move-in, it’s best to decline to avoid jeopardizing the deal. Remember, disclosing everything and sticking to the contract will protect your interests in the long run.
Don’t move out before you sell.
Various studies have suggested that selling an empty home is more challenging due to its uninviting and forgotten appearance. In fact, it could potentially cost you thousands. Additionally, moving out indicates to potential buyers that you have a new home and are eager to sell quickly, giving them leverage during negotiations.
Say Goodbye to Home-Selling Mistakes with Shelly Salas!
With my vast knowledge of the real estate market, I can help you sell your home stress-free so you don’t have to worry about coming across these 7 Costly Home-Selling Mistakes. My tips and guidance will get your home sold fast, for top dollar, and with the least amount of hassle. Don’t just take my word for it – my record of selling more homes than any other agent in Killeen speaks for itself. Call Me Today at 855-331-SOLD or fill out the form located at the bottom of this page to get started!
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