Putting your home on the market can be an expensive and time-consuming process. People spend an enormous amount of time and money when preparing to sell their property in order to maximize the sale price. Anyone who has gone through this exciting yet stressful experience know that sometimes it isn't as simple as some may think. Despite your efforts, sometimes even the most desirable houses can stay on the market for a surprisingly long time. This is often due to the many mistakes made by the home seller. Below are 10 monumental mistakes to avoid when selling your property.
Not preparing your home for inspection
Be sure to take the time to make your home look clean, tidy and well presented. This is one of the simplest ways to increase buyer interest. There are professionals such as the property stylists at Create Expectations that can aid with the presentation of your property prior to selling. But if you decide to do this independently then a thorough clean can also make a huge difference.
Sell your property without the help of a real estate agent
Sometimes people decide to save on the real estate fees by selling their property independently. Although this can save you money initially, it is a huge mistake. The research and knowledge that a professional licensed agent can provide is so essential to a successful sale. Going it alone without the help of the professionals could end up costing you more in the long run. This is especially true if you are unfamiliar with the process of selling your home.
Choosing the wrong real estate agent
Although it is important to enlist the help of a professional, it's also critical that you choose the right real estate agent for you. When considering the best real estate agent for your sale, try to find an agent who has your best interests in mind and also the relevant experience that will be required to make the process of selling your property.
Setting the price too high
We all want the best price possible for our property yet overpricing can be detrimental to the sale. Setting the asking price too high can, in fact, stop people from even considering your property. Work with your real estate agent to decide on an asking price that will draw a larger number of people in. This way, you create more competition between potential buyers and could get a better price.
Not keeping up with maintenance
Buyers will pay more for a property that requires less work so it's essential that you deal with any basic maintenance issues prior to selling.
Spending too much on renovations
Although it's great to tackle basic maintenance before selling a home, it's important not to get too carried away. Spending too much money upgrading your home immediately before selling can sometimes be a bad idea. If you are unsure, it's always a good idea to consult with your agent. He/She will be able to advise you on how much to spend on pre-sale renovations.
Not advertising the sale
Marketing is essential when selling your property, so do not overlook the many ways in which you advertise the sale of your home. Getting the word out there will increase the number of potential buyers and make the sale quicker and more profitable.
Not considering all methods of selling your home
Although many people now depend on the internet when looking for properties, do not discount other ways of selling your property. In order to increase your chances of selling, it's important to consider all marketing methods including classified ads, social media and even word of mouth.
Not being flexible
Whether it's allowing potential buyers to view your home at inconvenient times, or even considering offers that you think are a little low, being flexible during the selling process can make the sale go so much smoother.
Not reading all documentation thoroughly
There are many financial and legal documents associated with the sale of a property. Be sure to carefully read every document and if in doubt, consult with your solicitor before signing anything.
Keeping the above points in mind will minimize the amount of time your house is spent on the market. Knowing what to avoid throughout the selling process should also make the whole process quicker, easier and more profitable. Best of all, you'll avoid becoming an expired listing.
About the Publisher
Bo Kauffmann is a residential real estate agent with over 18 yrs experience in helping buyers and sellers achieve their goals. Inducted into the REMAX Hall of Fame in 2010 and receiving the REMAX Lifetime Achievement Award in 2019, Bo has sold over 500 houses and condos in the Greater Winnipeg market. He is an accredited buyer representative (A.B.R.) and a Luxury Home Marketing Specialist.
Bo provides exceptional service to First-Time Home-Buyers, Seniors looking to downsize and Home Sellers of all ages.
He can be reached easily By E-Mail or call/text him Call/Text Here
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