The dos and don’ts when it comes to selling your home. Many times, the biggest mistakes are the easiest to avoid. Here are just a few …
Pricing Too High: You might think that because it is a seller’s market, this would be a good strategy, when in fact it can work against you. Pricing a home at “fair market value” is a strategy in any market. When a property first hits the market, it is important that it is show ready and priced competitively from the get-go. There’s no secrets – agents know their market, and most buyers can be quite educated on the market as well. If an agent or buyer feels the property is price too high, it may not even get on their show list. In fact, if a property is priced too high, they may not even see it because it may not pop up on their search criteria of where it should be. Some of the sellers perceived thought processes are … listing your property higher then where it should be will get you a higher return, or will give you room to negotiate, as some sellers will say. That thought process will cost you money in the end, as you have slimmed the activity of potential buyers walking through your home, and you now find yourself lowering your price to ultimately where it should be. If you price your home at market value, you will get more showings, of potential buyers with the potential of multiple offers, which can drive the price up from there.
Dismissing Offers: There are buyers who will want to submit a lowball offer to see where the seller stands on price and/or would be willing to accept. Don’t be offended! I always counsel my sellers not to dismiss any offer, but always respond with a counteroffer. You never know where you will end up. You can’t fault the buyer for trying.
Stubbornness: In any real estate transaction there should be a little bit of give and take. Both sides want to feel good after the negotiations. It is important to look at the “big” picture when selling your home. It is rare to get everything you want, and you should be willing to make some concessions. This could mean coming down a little on your price, extending the closing date, or making some changes to the property. It can sometimes make better financial sense to accept a lower offer and close sooner.
Dismissing Staging. You want the buyers to feel welcome from the moment they drive up to the home and open the front door. Ensuring your home is landscaped at its best and perhaps a welcoming wreath or potted flowers at the door will surely set the tone. There are different variations to staging, to a no cost but just effort, to maybe costing you a few thousand dollars, depending on the home and what you’re trying to accomplish. Staging does not have to cost you a lot, but it can certainly net you more money in the ultimate sales price. Consult with your Realtor to discuss what makes sense for your particular home.
Selling your home can certainly come with its challenges, but having the guidance of your Realtor will surly make for a smoother transaction.
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