Homeselling Mistakes You Should Avoid
As a home seller, it’s your first objective to ensure your home sells quickly and for a substantial amount. While you might look for ways to increase the resale value of your property, you must do your best to avoid making costly or counterproductive mistakes that may impact the final sale of your home. Therefore, we’re going to share the common mistakes many sellers make and why you should avoid them.
Making Costly Home Renovations
It’s important to note that home renovations are based almost entirely on personal taste. While your remodeled kitchen is beautiful, buyers might think differently. Not to mention, not all renovations and upgrades offer great returns. So before you do anything renovations, speak to your Realtor® or do your research and see which renovations or upgrades will actually offer returns you’re okay with.
Not Cleaning Your House Or Investing Resources into It
Setting up your home for showings is critical when it comes to showing. Statistics prove that if you set your home up for sale, you have an 88% of selling it faster than a home that wasn’t cleaned out. You especially want to declutter the house as much as possible, so buyers can get a sense of the space you have in your house.
Another problem most homeowners have is that they don’t spend enough time maintaining their homes. If you don’t take great care of your house, you might not sell for as high as you think it will. More unrepaired aspects of your home will have to be properly addressed before if you’re hoping to put your property up for its maximum value.
Not Having More Showings
Sometimes, you’ll have to be gone from home for hours. There’s even a chance that you’ll spend entire days outside of your home. At the same time, your real estate agent shows the property to interested buyers. While that might be inconvenient, realizing why you’re doing this is important.
Choosing an Agent Too Quickly
You don’t have to settle on the first agent you meet. Many real estate agents in the Augusta-Aiken area would be more than happy to help you. Instead, take the time to research agents you are interested in representing you. See what their previous clients have to say about them. How experienced are they in the real estate field? Are they part-time agent or full-time agent? Do they have any Google reviews? That would help paint a clearer picture of how they conduct themselves. You’ll also have to consider how knowledgeable they are, the options they present you, and how they plan to stage your house.
Hiding Major Issues
You might think it’s a clever trick to hide some of your home’s major issues from the homebuyer. And while you might get an offer, the home inspector will arrive and find all those issues you were trying to hide and report them back to the buyer. And if the buyer doesn’t rescind their inspection contingency (which they rarely do), you won’t get anything out of the sale. You’ll have to start back from square one.
So, remember when we said not to make any home upgrades? Well you can use the money you set for those renovations to repair the existing issues in your house. Now, you might have the money to make the repairs on your house. Still, you do want to focus on the repairs that homebuyers would consider dealbreakers. If you’re confused about the dealbreaker issues, ask your Realtor® for some suggestions.
Setting Your Home’s Price Too High
This is a problem that’s all too common in the housing market. Some sellers simply don’t follow their Realtors®’ recommendations and place their homes at a high price. In their minds, this means they’ll get a bigger profit. In reality, this strategy actually puts off a lot of interested buyers. It can cause your home to sit on the market for much longer than it should. This strategy especially backfires when repairs and property defects are not properly addressed in the house. While you don’t have to price your home at the amount your Realtor® suggests, you do want to keep your home around that suggested price range.
Only Considering the Highest Offer
This is an all-too-common mistake a lot of home sellers make. While the numbers on that offer might seem good, there are other factors you need to consider. For example, how many contingencies come with that offer? If there are more contingencies than usual, then
Not Wanting to Negotiate Price
Let’s say you receive an offer, but it’s lower than what you priced your home. It would be an error on your part to reject the offer entirely. Instead, you want to present a counteroffer that might be slightly more reasonable than the listing price. If the buyer refuses your counteroffer and presents their own, discuss your next move with your Realtor®. You could continue trying to pinpoint a price with the buyer, or you can keep having your home on the market and take your chances with another buyer.
Always Keep In Contact With Your Agent
All in all, there’s no quick and easy solution when it comes to home selling. That’s why it’s important that you and your real estate agent talk strategy with one another. When you’re considering moving that will impact your home in some shape or form, make sure your real estate agent knows about it.