Selling a home can be a daunting task, especially if you’ve never done it before. It’s time-consuming, emotionally trying, and can cost you more money than you may expect. Mistakes will happen along the way if you don’t know what you’re doing, and could push your sale back. That’s why it’s important to stay disciplined in your approach, and to know how to navigate the pitfalls that are associated with selling a home.
When you’re ready to sell your home, you need to make the conscious connection that it’s no longer your home. That sounds harsh, but being too emotionally involved can ruin your chances at selling. People are going to be walking in and out of your home, poking around your closets and cabinets, and judging it every step of the way. And why shouldn’t they, they’re about to spend a lot of their own hard-earned money.
They also don’t understand the connection you have with your home, so don’t take it personally when they don’t like something. The don’t see the cozy nights you spent in front of the fire, or the story behind the ceiling fan that took you three hours to put together.
Remember to keep looking at it from a purely financial position and you’ll do what it takes to stage your home, distance yourself emotionally, and come out on top in the end.
Hire an Agent
Many of us like to do things on our own, but if you’re a first-time home seller, you should seriously think about hiring an agent. Your Realtor® will help you navigate the muddy waters of paperwork, price your home accordingly in an already competitive market, and deal directly with potential buyers so you don’t have to. This also helps reaffirm the first point of being emotionally disconnected from your home. If you’re showing your own home, you might not be as objective as you should be.
If you did try to sell on your own, you’ll not only be responsible for your own marketing - and it will cost you to get your home on the Multiple Listing Service (MLS) - you'll also be required to show the house and negotiate the sale with the buyer's agent.
Price is Right
Your house’s sell price should be determined after a thorough market analysis, because, suffice it to say, overpriced homes don’t sell. Not only that, but a smart buyer will require you to negotiate heavily if it’s priced too high. You want to attract multiple buyers, not just those you think will give you want. Think supply and demand. The more demand you have for your home, the less likely you are to have to budge from your asking price. If you’re desperate to sell, you can always price much lower than people would expect, but too low and people will think something’s wrong with the home. Contact me today for a consultation. I will be happy to answer any questions you may have, and/or help you determine the value of your home.
Photo courtesy meg / Flickr.com