You don’t sell your house everyday, so it’s difficult to know what to do and what not to do. A real estate expert can help you know what to expect, but even with the best agent you can make the transaction more difficult than it needs to be or worse yet, cause the failure of your home to sell. Be sure you avoid making these mistakes.
- Pricing Incorrectly – Sure you don’t want to lose money, but overpricing your home can actually cause you to lose money in today’s market. Sellers look in price brackets and if your home is not in the correct bracket, the right buyer will not see it. Moreover, the buyers who are looking at it will see that its not comparable to other homes in that price range and will eliminate it from their search without ever stepping foot inside your house. The longer it sits on the market, the more buyers will question what is wrong with it, so they will be less likely to pay the full value and you could end up selling the house for even less. Furthermore, you’re preventing the possibility of a bidding war.
- Being Emotionally Attached – After all the time and effort you put into caring for your home, you can hardly be blamed for being emotionally attached. However, your sentimental value won’t be factored into what a buyer will pay for the house. Your style and the uniqueness that you have added doesn’t mean a thing to the next person to own it. They will be changing it and making their own memories there. By being emotional, you can turn off a potential buyer or run into other mistakes like incorrectly pricing the house.
- Not Cleaning/Staging – Especially if you are living in the house, keeping it in tip top shape isn’t always the easiest thing to do. Kids and pets are messy and sometimes you are just tired after a long day at work. If you think of the buyer’s point of view, you’ll understand why leaving a basket of laundry out or not finishing up the dishes is a big mistake. You wouldn’t expect to pay full price for a shirt with a stain on it. Buyer’s won’t pay full price for a home that isn’t clean. Most people can’t imagine a house’s potential, such as a different color on the wall or the furniture arranged a different way. This means that if you haven’t staged your home to be pleasing to the majority of buyers, you are missing out.
- Being Present at the Showings – You may be very friendly and helpful. No one else knows the house as well as you do after all. But there are valid reasons that you should not be present when a buyer is looking. They want to really evaluate the house and make sure it will fit their needs. This includes opening cabinets and closets, things that they may be uncomfortable doing in front of you. People don’t want to offend you if there is something they don’t like, so they will not be able to talk freely. On the other hand, someone might say something that does offend you (especially if you are still emotionally attached). Most agents get feedback from showings and open houses that they can report back to you.
- Unrealistic Negotiations – It may be tempting to try to get a little more, but most agents will suggest that you go for the best buyer, and not the best deal. There are situations like contingencies or lending issues that could cause a deal to fall apart. When this happens, you are back on the market. You could lose a good deal while chasing the great one.
You won’t want to miss out on a good deal because of a mistake. The best option to make sure you are in the best position is to hire a real estate expert and listen to their advice. If you’re looking to sell, call Helen today at 847.967.0022 or email helen@helenoliveri.com.
