Are you thinking of selling your home? The home selling process can be oddly time-consuming and emotionally challenging, especially if it’s your first time. With little experience and a complex transaction to handle, it’s easy to make mistakes. Here are some good lessons to help you along the way.
1. A Good Realtor Makes All the Difference
Choosing the right agent can mean a smoother experience and more money in your pocket at the end of the sale. It helps to work with someone with an understanding of the market and experience in selling houses like yours, in your neighborhood and at your price range.
An agent will help you set a fair and competitive selling price for your home and have more experience negotiating home sales, increasing your odds of a successful sale. We recommend working with a member of the National Association of REALTORS® who holds the designation of Seller Representative Specialist.
2. Setting an Unrealistic Price Will Cost You
So you’ve added up all of the home improvement costs and time you’ve spent on the house and landed on what you think is an appropriate listing price. A majority of homeowners believe their home is the exception and will fetch more than similar houses. This is rarely the case. In a survey conducted by HomeLight.com, 70% of real estate agents said that overpricing is the number one mistake that sellers make.
Overpriced homes don’t sell. And systematically cutting the price doesn’t send a good message. Your real estate agent can be a great resource for finding the right listing price that will spark the most interest and maybe even inspire a bidding war.
3. Don’t Get Angry at Lowball Offers
You’ve poured your heart and soul into getting your house ready for sale, then a lowball offer comes. Don’t worry about it. It’s nothing personal. It’s the buyer’s attempt at shooting for the moon. Such offers aren’t always a reflection on your home but an indication of the buyer’s finances. To ensure you aren’t tempted to take a low offer or discouraged by the whole process, find out what your home is actually worth.
4. Prepare Yourself and Your Home to Sell
A lack of preparation is one of the most common regrets among sellers. Therefore, give yourself more time to get your home ready for the market. There are a lot of details to take care of before you can show your home to prospective buyers. That includes decluttering, making any necessary repairs and getting your home in swoon-worthy condition.
Besides making your home look presentable, know the marketing plan for your house. Great staging alone won’t do a whole lot if no one looks at the house. Work with your listing agent to make sure you have a comprehensive marketing plan that gets your listing in front of as many buyers as possible.
5. Keep Your Emotions in Check
Emotions can play a big role in selling a home, especially if it’s your first one. After all, it’s the place where you’ve spent a great deal of time and created so many memories. However, being too emotional about it can get in the way of a successful sale.
Think of the process as selling a house, and not your home. Even if a potential buyer becomes overly critical, try to react in a neutral fashion. It becomes much easier when you choose to focus on the end goal, which is to find the right buyer and close the deal.
Put these lessons for first time home sellers to work for you and embark on your journey to a successful sale!