Last Updated on March 30, 2022 by Kravelv
With an economic downturn, selling homes is already tough as it is. As someone who wants to sell a property, you cannot afford to make mistakes that could jeopardize a sale. The following are mistakes that you should look out for in selling your home:
Selling a neglected home
A well-maintained home is an important feature that most property buyers are looking for. After all, they will be moving into the house in the next few months. The house must be in a good enough condition. If they see that there are issues or damages in the house, they will be less likely to be calling their lending companies to sign a mortgage agreement. There is a reason why quick repairs before reselling improve the chances of the house being sold.
This is not just about the house looking good, it is also about making sure that the house is functional. Sure, an attractive home will draw in potential buyers but some of these buyers are actually very meticulous that they will check everything before committing to the sale. You better be ready for these kinds of clients.
Because of this, a home seller must take steps to prepare the house. Firstly, the house must be de-personalized in such a way that it will appeal to a larger segment of the market. Never forget to make both the interiors and exteriors (especially the curb) look appealing. Also, fix basic functions like air conditioning.
You may also consider staging your home. This is the process of optimizing the impact of client visits so that they will be more convinced to buy the property. Just contact a professional home stager for these types of services.
Marketing the wrong way
Yes, there is such a thing as wrong marketing when it comes to homes. Due to your attachment to your home, you may have blind spots that prevent you from properly marketing your home to buyers. Start detaching your emotions from your home and think of it as a product that you will be selling.
Start by employing marketing strategies. While you may have a target in mind, you should make sure that the house will appeal to the largest possible pool of clients. Do this by having great pictures taken of the home and placing ads on different media platforms.
Also, employ the basic principles of customer service by actually answering the phone for inquiries. This way, when the potential buyers decide to make a visit to the home, you already have a decent relationship with the client.
Price setting is too high
One of the biggest considerations that you have to take in selling your home is the price of the property. Most sellers assign a rather high amount on their home, partly because of their belief that the selling price should be close to the amount they spent in buying it in the first place. This, however, is not the right attitude to take. There are various factors that have to be assessed like devaluation, location, and amenities.
It is especially wrong to deliberately overstate the price of the house. It can lead to the seller losing a competitive advantage. This is called “testing the market” and has been proven to be an ineffective practice.
There is a science behind setting the price of a home. You have to be careful in setting it so that you will not be alienating a significant part of the market.
Hiring an inexperienced agent
Experience is a key factor in selling homes these days. An agent who has been in the field for more than three years has the necessary experience, networks, and tools to be able to sell your property. This should give you enough confidence that your home will be sold.
It may be necessary for you to hire a full-service agent if you are not too sure what to do yet. If you think your house is just too attractive for buyers to pass up, there are brokers out there that have packages for you as well.
Always read the agreement between you and the agent before embarking on a relationship with them so you will see both sides’ benefits.
Selling a house involves lots of steps and you need to be super careful in every step if you want to have the best price for your home. The good news is we buy houses and you get only the best possible price for your home if you sell your house to us.