Ill-advised choices not to make when trying to sell your home
Selling your listing is like engaging in a competitive chess game; making the right moves at the right time means the difference between winning (make a successful sale) and losing (failing to obtain any reasonable offers). Obviously, the stakes are far higher in the second instance when you’re trying to sell your house.
The following suggestions are offered in the interest of saving potentially tens of thousands of dollars due to erroneous decision making when selling your home. The good news is that every suggestion is avoidable if you identify the potential for financial burden and/or misstep and be very proactive in your sales strategy.
1. Not hiring a professionally competent and experienced real estate agent to sell your listing. Sellers often considering becoming DIYer’s in the interest of saving a hefty commission, but in long run do themselves a disservice when issues arise that they do not have appropriate answers to. A good real estate agent is by design proactive and can provide a wealth of experience-related advice when situations arise – and as Murphy’s Law eludes, they always will.
2. Pricing your home improperly. Pricing the listing too high or too low each yield respective problems. Too high means the property will receive few offers and remain on the market for an indefinite amount of time. Too low means you are going to enter the transaction earning less than you could in the current market environment. Bottom line, you need to work with your agent and compile as much information about your unique situation as possible to mutually arrive at a competitive price that leads to a profitable sale in a timely manner.
3. As has been discussed on a multitude of occasions, making repairs is always in the seller’s best interest. And it goes without saying, being frugal is smart financial practice. However, being cheap and neglecting to make obvious repairs is a bad decision. Buyers will take all that is good for granted – supported by the price – and key on obvious deficiencies. The bad will outweigh the good – no matter how good the condition of the rest of the property. Ultimately, the offer amount will be an emphatic buyer reflection of the property’s perceived market value.
4. Last, but not by any means less important, not cleaning up the clutter and unneeded contents. Go through the house on a mission, like that which occurs with a serious spring cleaning. Remove all unnecessary home contents, including valuables not required for daily occupancy. At the very least, take all-important possessions to a relative or friend’s home for safekeeping. All clutter should be discarded prior to any home showings. Obviously, it is in your best interest to present the listing in the best possible light, emphasizing clutter-free rooms, tasteful décor and inviting furnishings.