It’s come to the point where you’ve decided you need to sell your first home. The process of moving, change, and hoping to sell your home at the right price can be pretty stressful. There are so many parts involved with making process run smoothly. Before you jump right in, we’d like to share with you four common mistakes that first time home sellers often make.
Neglecting to Make the Home Show Ready
This is something that can often get overlooked when you are in a rush to sell your home. First, think about at what cost it would take to clean things up, fix any damages, put up a fresh coat of paint, and keep the lawn mowed. Waiting till your home is ready to go on the market will save you more time and hassle than waiting around for a buyer who can see past all the grime, broken parts, and unkept lawn.
Overpricing the Home
It might be tempting to put a big price tag on your home and see what happens, but this isn’t the safest move. Often what happens is that the house goes on the market and then just sits there. Buyers are smart. They shop around and compare houses for days. Do your research and find an agent that will tell you how things really are and gives you other homes to compare yours with. The longer your home sits on the market because it is overpriced, the more buyers are going to think there is something wrong with your home.
Listing the Home as “For Sale by Owner”
You might be thinking that selling your home yourself would save you a lot of money. Yes, this may be true if you have a lot of experience and are willing to make this your full time job. Your real estate agent has already invested time in research, marketing, making connections, and knowing how to best handle contracts, inspections, appraisals, and other legal matters. More often than not, homes take a whole lot longer to sell “for sale by owner”, as well. Knowing how much money you are spending and where it’s going from the beginning is well worth the investment.
Not Being Able to Negotiate With Buyers
More often than not a buyer is going to put in an offer for your home that is, by your standards, outrageous. Don’t let this turn you away. Most likely the buyer is just trying to see how much you really think your home is worth and if you are willing to budge on your price. The buyer will generally go for a price that is close to, if not at, your asking price. Consult with your agent who specializes in making negotiations everyday!
Knowing the four common mistakes that first time home sellers make will keep you one step ahead of the game. If you are ready to sell your home, and would like to schedule an appointment, contact us today!