Selling a Home? Steer Clear of These Common Missteps
For many people, searching for available real estate for sale represents the first step in the moving process. But if you already own a home and plan on relocating, you can’t treat selling homes as an afterthought. The way in which you sell your current home can have a major impact on your ability to purchase your next one — so it’s essential to do it the right way.
In other words, there are a number of mistakes you’ll want to avoid when you sell a home. Here are just three missteps of which you’ll want to steer clear.
MISTAKE: Setting a Price That’s Too Low or Too High
If you aren’t knowledgeable about market conditions, you might not understand what determines the price of real estate for sale. Pricing a home can be complicated, as there are a number of factors that go into the value of a property. You’ll need to consider the state of the home, the neighborhood, and what the market is willing to bear. And there’s only so much you can find out (or even trust) online.
Should you price your home too high, you’ll run the risk of having it sit on the market for months without much interest. But if you price it too low, you might regret it later when you miss out on potentially thousands of dollars. The best way to ensure you price your home with your interests in mind is to have a real estate agent run a comparative market analysis and advise you on suitable figures. This can keep you from making a big mistake from the start.
MISTAKE: Failing to Stage or Repair Your Home First
It’s understandable that you might not want to sink money into a home you’re planning to sell. But it’s true what they say: sometimes, you have to spend money to make money.
When it comes to real estate for sale, many buyers don’t have a lot of imagination. You need to help them along their journey by showing them how easily your home can fit into their lives. If there are distractions along the way (like obvious repairs that need to be made or aesthetic eyesores), prospective buyers will have trouble picturing themselves in your home. No one wants to purchase a money pit, after all. And since 90% of real estate agents encourage homeowners to invest in landscaping, it’s clear that even exterior visual appeal can make a huge difference when selling a home.
In short, you’ll want to take the time to properly repair and stage your home before you take listing photos, schedule open houses, or open private tours by appointment. Keep in mind that many of these fixes come with relatively high returns on investment, meaning that you’ll likely make back more money by making these upgrades than you will if you try to sell your home as-is. Your realtor can advise you as to which upgrades will make the most sense for your circumstances.
MISTAKE: Not Working With a Real Estate Professional
When buying real estate for sale, most people know they should work with an agent. But you need help from an agent when you sell your own home, as well.
Did you know that “for sale by owner” properties tend to sell for much less than homes that sell with help from an agent? Sellers are more likely to settle for an offer if they aren’t receiving advice from an agent — which means you could miss out on a lot of money. You might also agree to terms that aren’t in your best interests if you fail to work with an agent. When selling a home, it’s much better to be safe than sorry.
Now that you know the most common selling mistakes to avoid, you’ll be able to side-step these scenarios — especially if you have help from a qualified real estate professional. To learn more about how Jarrod Cruze’s expertise can make your home sale go much more smoothly, please contact our offices today.