Following the steps below can help you maximize your selling price and put more money in your pocket. Avoiding some often over looked mistakes is easy and takes little time, cost and effort on your part.
1. Distress Selling: At times, selling quickly is unavoidable. That’s when knowing the right techniques to sell your home, without looking desperate and making yourself a target for low-bidders, really pays off. Know all there is to know about your market before listing and work hand-in-hand with the right real estate professional. Insure you are not selling for the first offer through the door.
2. Best Home in the Neighborhood: Your home is one of your most personal possessions. Don’t be blind to flaws, unique personal preferences and needed cosmetic improvements. This will cause overvaluing of the home, hurting its chances of being sold for top dollar. Listing with the right agent gives you a well-informed “third eye” that will help you price your home at a fair market price.
3. Limited House Viewing: Buyers want to view a home on their own time schedule. Unfortunately, their time schedule does not always coincide with your time schedule. Leave a lockbox or key with your agent so your home can be shown when you are not around. You never know if the one who got away was your next homebuyer.
4. Restrain Emotional Decisions: Don’t let a few hundred dollars, which will mean very little to you in the long run, ruin a sale. Take a look at the big picture and react rationally. Use sound judgment!
5. Make Cosmetic Improvements: Prospects make up their minds within the first twenty minutes. First impressions can make all the difference in the selling of a home. Spending $1200.00 on new carpet might add another $4,000.00 to the price of your home. Get an objective point of view from your real estate professional or interior design consultant. They can provide you with a list of items that will maximize the profitability of your home sale.
6. Disclose Property Flaws: Property disclosure laws require sellers to list any flaws of which they are aware. If you are unaware of flaws or attempt to cover them up, you risk losing the sale or finding yourself in court. Get professional assistance from an agent, who can introduce you to qualified inspectors and insure the smooth sale of your home.
7. For Sale By Owner: Most homeowners who decide to sell their own home, do so because they believe they can save the commission paid to the real estate agent. Everything has a price, and selling a home carries a high one. The enormous amount of time and effort required to sell a home often surprises the For Sale by Owner. Furthermore, many costly mistakes can be avoided with the right guidance. Lower prices and more time on the market could be the largest costs.
8. Refusing to Trust Your Agent: Would you tell a physician that you’ve decided to run your own tests and come to your own diagnosis? By choosing the right agent, you can relax and trust their judgment. The right agent is a valuable team member, who will protect your best interests and make your sale as profitable as possible.
9. Know Your Market: Most homes that do not sell during the first listing period are priced too high. You need to understand your market and evaluate the value of your home based on fact, not gut instinct or conventional wisdom from friends and family. A professional agent knows the market, just as you know your market for your work place.
10. Choosing an Agent Based on Personal Relationships: Home sellers often pick a friend or family member as their agent. Choose and agent with a strong track record and aggressive marketing plan. A top producer knows their market well and can generate many buyers. Selling your home is one of the most important decisions you’ll ever make! Base it on good, sound business sense and the rewards will add up.
Before you make one of the most important decisions (who to list your home with), shouldn’t you become as informed as possible? By aligning yourself with a top agent, you insure that all the important issues and seemingly insignificant, yet very important, details are handled professionally. Your home sale should not be a grueling ordeal. The more informed you are, the better chance you have of making a sound business decisions.
We sincerely hope these tips and ideas are of value to you. If you are in the market to purchase a new home please let us know and we can assist you in not only arranging your financing but also recommend a Realtor or home inspector. Please call or email FamilyLending.ca for a personal, no obligation consultation.