Selling your home is an emotional process – one we want accomplished quickly and with the minimum of stress and worry. We have all heard tales of houses taking months to sell and then sold at reduced prices. So how do you ensure that your selling process runs smoothly? How do you avoid the unknown pitfalls just waiting to trip you up in the real estate jungle?
Well there are four common mistakes that people tend to make when selling a property. And by knowing and identifying these mistakes beforehand, you can help ensure that your sale goes off without a hitch!
The most common mistake people make when selling their home is to not make an informed decision about the market. You need to check out current market conditions in order to determine if this is even a good time to sell your home. Not doing so can be costly and it will take much longer to sell your home if you attempt to sell it at the wrong time.
Sometimes, it doesn’t matter what the state of the real estate market – you just have to sell. Under these circumstances, at least you are aware of the market cycles and can take them into account when deciding to sell and setting your price.
Real Estate Agents
Many people hire a realtor because of a referral or a first good impression. And there is nothing wrong with that – most realtors are really, nice people. Realtors need to be happy and agreeable people or else nobody will ask them to sell their house! However being likeable is not the same as being qualified to do the job.
So find out whether the realtor has a proven track record of closing a deal and how long are the houses on the market before they sell? And how many years of experience does the realtor have? The answers to these questions are just as important as a good personality.
Pricing your property too high based on its perceived value or your emotional attachment is just plain wrong. Your house will sell for the prevailing market value – despite the value you attach to it.
If you price your home too high, it is doubtful that you will receive any offers at all. So investigate the prices of similar properties in your area – those that have sold recently and make a decision based on market value and demand not on emotion.
If demand is high for properties similar to yours then you can initially ask a higher price and see how that is accepted. Likewise, if demand for properties like yours is low – then you may have to lower your asking price if you really want a sale.
Ready to sell?
The final mistake people make when selling their home is to place their home on the market before it is ready. Remember that retail is detail. You need to make sure your home is presented well in order to achieve the best price.
Try hiring an interior designer to revamp your home before selling. A cosmetic makeover by someone who has their finger on the design pulse will increase your property’s value and make it more sellable. By both restyling and bringing your home up to date a buyer will see more value in your home – because they will see a property that is clean, tidy, well maintained and desirable.
Be sure to check out Sasha’s TV channel and see how she transforms Drab in Fab!