5 Things to Consider As You Get Ready to Sell Your Home
1. Find a competent real estate professional you feel comfortable with.
A real estate professional will be prepared for their listing presentation and be cognizant of what is happening in your community. A real estate professional will provide comparable sales and other market analyses of your home and show you how they have determined your home’s value. The sales process is arduous and you will be spending some time together so choose wisely! Do some homework and make sure you are picking a real estate professional who is the right fit for you and your needs.
2. Price it right the first time!
By far, this is the worst mistake most sellers make. By reaching for the moon and stars on the value of a home and overpricing it, a seller can miss opportunities within the marketplace by scaring away potential prospects. In perpetuation of this grave mistake, a compounding side effect is the lack of interest accruing as the days on the market keep ticking by. A listing that has been on the market for a while makes buyers question what is wrong with the home as clearly there must be something or else it would not be available. More times than not, there is no issue with the home just a misconception from buyers that if it was great, it would be sold. The solution here is to listen to you realtor. They have knowledge of the current marketplace and want to see you succeed in your sale. More often than not, you are not going to be the one to set a new sales price record in your neighborhood.
3. You will have buyers coming into your home regularly. Be ready for them!
Your house should always be show ready once you are on the market for sale. You should be ready, willing and able to accommodate all showings. Daily upkeep is important as buyers will want to see every corner of your home and YES they will open closets too so perhaps you could donate those unwanted items to your local thrift store or just pack them up out of eyesight. If you have pets, clean up after them. If you have children, have them put their toys away. The less personal effects around, the better. Buyers want to picture themselves in your home but cannot when they are surrounded by your “stuff.” Point is, having your home show at its best benefits you because the better it shows, the more willing a buyer will be to present you with a full priced offer.
4. It’s not personal, it’s business.
Buyers will try to purchase a property that they love for a fair price while also trying to feel like they got a bit of a “deal.” In the meantime, a seller is looking for a full price offer, or an offer for the highest amount possible for their property. As a seller, don’t take it personally if a buyer is offering under your asking price because they feel the home needs updating or because a buyer just decided to offer low. You can consider it as a conversation starter for the negotiation process and be happy because- HOORAY! You got an offer. Ultimately, you are getting ready to convey your property to another party. You are entering into a business relationship, however teetering on the personal as it is and has been your home for quite some time. Try to not let the emotional attachments to the home get in the way of the sales transaction of the property.
5. Don’t go it alone.
There is so much liability on the parties during a real estate transaction and not to mention lots of paperwork! By hiring the right real estate professional, you are not only getting your weekends back as you won’t have to hold open houses on your own, you are gaining the services of an experienced professional who is there to make sure you are covering (what is for most) your largest asset. A real estate brokerage has error and omissions insurance, do you in the event that something goes askew within your transaction? A real estate professional is there to oversee every aspect of the real estate transaction. The money you will save selling it on your own will pale in comparison to the potential litigation that may lie ahead.