21 Aug 8 MISTAKES TO AVOID WHEN SELLING YOUR HOME
To ensure your house will be sold to the highest bidder as quickly as possible, you have to make sure that you do not make these eight costly mistakes.
The real estate market is quite challenging for today’s home sellers. Buyers are presented with an endless array of options, based on price, location, layout, number of bedrooms, etc. This means that your house is just another property in a sea of homes for sale, and they don’t have to buy what you’re selling. But if you want your home to sell out fast, you should make it a point to make it stand out in the competition.
Selling your home faster
There are many things you can do to sell your house fast. One is to give it a makeover that will increase its value. This includes renovating the kitchen, fixing anything that’s broken, repainting, refurbishing the bathrooms, and increasing its curb appeal. Choosing the right real estate broker can also help you get a done deal fast. This is because they have the tools and resources to increase your property’s visibility both online and offline. They can also guide you in planning a home staging that will draw in more potential buyers. But all of this still won’t make you close the deal as quickly as possible if you make costly mistakes that could put off buyers and send them in the opposite direction.
8 critical mistakes to avoid
Mistake #1 – Dealing with the wrong agent. Keep in mind that the success of the sale of your property depends largely on the competence of the realtor you hire. The wrong agent could use the wrong marketing strategy, suggest the wrong price, or put off interested buyers. All of which can jeopardize the sale. This is why it’s important that you compare agents or brokers to know who can best represent you as the seller.
Mistake #2 – Not trusting the agent enough. Trust is the key to a healthy relationship, be it with your significant other, house builder, or your real estate broker. Transactions will go smoothly if there is trust between parties. So, before signing an agreement with the agency, ask pertinent questions that will give you confidence in dealing with them. If you aren’t comfortable working with them, then move on and look for another brokerage.
Mistake #3 – Overspending on renovations. Your real estate agent can suggest which improvement projects will sell your property fast. These will be based on refurbishments done to similar properties in your area. Three activities that will increase your home’s worth include painting, house-washing, and gardening. Ceilings, cupboards, and hallways with paintwork that is starting to peel should be repainted to give your house a fresh, new look. Opt for neutral colors as these are safer and more inviting. If you’re thinking of repainting or washing your exteriors, which is quite costly, talk to your realtor first. Sometimes, a few cheap touch-ups would do, so there’s no need for a complete house render.
Mistake #4 – Falling for the quote trap. The agent might give you a quote for your property but sell your house at a different price. There’s nothing illegal about it because it is not stipulated in the agreement that compels them to honor quotes. But what you can do to avoid falling for the quote trap is to demand a written quote guarantee from the broker. This allows you to pay the agent only if you get the price you were quoted for or more.
Mistake #5 – Attempting to hide issues with your property. A buyer’s inspection will reveal any problem with your property. This means that there’s no use trying to hide it. To avoid turning away buyers, you can fix the issues in advance or sell your house at a lower price to account for the things that need repair. You should also secure a home inspection report before listing it to avoid costly problems. Besides, being prepared with all the necessary documentation gives buyers some peace of mind.
Mistake #6 – Dealing with an unqualified buyer. A wise seller only signs a purchase contract with a buyer that can provide them with a preapproval letter from a mortgage company, unless they are going to pay in cash. This is to ensure that the interested party can prove their capacity to pay for the property, be it in cash or through financing.
Mistake #7 – Not decluttering before staging your home. One sure way to discourage potential buyers from buying your property is to not get rid of clutter. The more personal things you keep in a room, the less enticing the house will be to interested buyers. If you don’t have enough room in your old house or newly built home, you can hire a storage unit to keep your stuff in the meantime.
Mistake #8 – Not putting your home’s best foot forward. When you’re applying for a job, you’re always told to dress for success. This applies to your home, too, if you want to sell it fast. If you’re getting rid of your old and outdated furniture, you can borrow or rent furniture from family members or friends. You can also invest in a home staging service to save time and effort. By making your house as presentable as possible, interested individuals will find it easier to imagine themselves living in your house.
Before closing the deal if you’re buying new property or building a house, look for a buyer who doesn’t need to settle in your property immediately. It is common practice nowadays for buyers to move in within three to four months’ time. That way you can have more time to focus on getting the best price for your house, and not settle for a buyer who can pay right away but at a discounted price.Return To Blog