Though there is a wealth of information out there for buyers, there aren’t nearly enough resources for those looking to sell. That’s why, today, I’ll be sharing five common but critical mistakes sellers should avoid when it comes time to list.
1. Pricing your home too high. There are three ways you can price your home: You can price it above market value and hope a buyer comes around, you can price it at market value and take advantage of the interest this generates among buyers, or you can price it below market value and potentially drum up a bidding war. Typically, pricing at or below market value is the best strategy in our market. Pricing too high will actually put you at risk of selling for 5% to 10% below market value.
2. Not hiring a real estate agent. Many sellers assume they can save money by not hiring an agent. However, the commission fee is a small price to pay for the services an agent can provide. Agents are marketing experts. They do much more than simply sticking a sign in the yard and hoping for a sale. Top-quality Realtors today know how to leverage cutting-edge techniques, like social media marketing, to help you earn top dollar for your home.
3. Not making home improvements before you list. Sellers should do whatever it takes to make their property shine prior to putting it on the market. Decluttering, cleaning, and staging can go a long way. If your home doesn’t make a good first impression on buyers, you won’t be able to command the price you deserve.
4. Not ordering a pre-listing inspection. Ordering an inspection before your home hits the market will allow you to identify and resolve issues ahead of time. Also, having a home inspection report ready for buyers to review can really expedite the deal. And if you’re selling a condo, order your status certificate in advance to elicit a similar effect.
5. Being present for showings. Buyers may not be comfortable expressing their honest opinions if they know you’re listening in. When it comes time for a showing, it’s best for sellers to be gone altogether.
If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.