Avoid These Mistakes When Selling Your Home

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Avoid These Mistakes When Selling Your Home
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May 11, 2021

Avoid These Mistakes When Selling Your Home

Selling your home is a difficult decision. You may have lived there for years and now have to leave everything- your home, your friends and your entire lifestyle for reasons that you have no control over. Preparing your home for sale can take time, effort and money. You will need to keep your emotions in check for this monumental decision.

With you not having any experience in this matter and having to deal with complex procedures and laws, it is natural for first-time sellers to make many mistakes while selling your home. With a little know-how, you can avoid many such pitfalls. Read on to know how you can get the best possible price for your home when you sell your house online or offline.

Avoid getting emotional

You have spent your hard-earned money and stayed for years in the house you are going to sell. You have many memories attached to this home, it can be quite emotional to say goodbye.

If you do not keep your emotions in check, there are chances opportunistic people could scam you. You need to think as a businessman and salesperson while selling your home. In fact, forget that you are the homeowner. By looking at this sale from a transactional perspective, you can be sure you aren’t scammed or given a raw deal in the sale.

Can I do without hiring a real estate agent?

Real estate agents charge big commissions- usually 5-6% of the sale price. However, they work in your best interests, ensuring your home is sale-ready and that it sells quickly for the right price.

You may be tempted to go it alone considering the many ‘for sale by owner’ signs in the front lawns and listings online. It is recommended to not go it alone, especially if this is your first time.

If you still feel you can get this done without the realtor, go ahead. Do remember, you will have to dedicate some time every day to this. The biggest advantage you get while doing it yourself is the thousands of dollars you’ll save in the process.

Do remember that this is a risky proposition and that you will be alone if any issue crops up during the sale.

Nevertheless, if you are planning to DIY, here are some tips for selling your home yourself.

Setting the right price

You need to set a realistic price- too less and you stare at losses, too high and your property remains unsold. You got to determine the right price by comparing similar properties in the market and doing a comparative market analysis.

Real estate experts agree that overpricing the property is the biggest mistake homeowners make. You got to price your home in such a way as to attract interest from genuine buyers. One unconventional way is to under-price the home- this will generate a lot of interest and you can always refuse offers that are too low. However, you got to negotiate well for the right price for this.

Negotiating for the right price

Every smart buyer is going to negotiate for getting the right price, you too, have to play ball. Resorting to under-pricing your home may work, however, you will need to highlight the benefits of the property to justify the hike in price. This also depends on whether you are in a buyer’s market or a seller’s market.

Selling in the winter

Winter is typically the slow time of the year when the housing market doesn’t see that many sales. As many people are generally at home, this is not a time when homes are sold. As there are fewer buyers in the market, it can take much longer for your home to get sold. This also means that there aren’t many sellers in the market, a point you can take advantage of.

However, for best results, it is highly recommended you wait for the summer to sell your home.

Hiring a professional photographer

To make a stellar first impression, you need to hire a professional photographer who will take the best photos of your home. Good photos should be taken at the time of the day when there is ample sunshine and the rooms look big and airy. Photos taken from a phone will not make the right impression on the buyers.

Also, ask the photographer if he could shoot a virtual walkthrough of your home for a better impression.

Summing it up

Many things could go wrong in your mission to sell your home. Taking simple, informed and calculated steps could help you take the right decisions. Sometimes, it is best to rely on experts for the best results. One of my friends has had a great experience with a professional real estate company based in his hometown in Metro Detroit- Cash for my home now. This company helped him sell his house for the best rate and did it transparently. Do contact them to know more.

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