You are selling your most expensive belonging so protect yourself by knowing how to Avoid Costly Home Selling Mistakes and Sell For More Money. There are many home selling mistakes to be aware of. They can cost you thousands of dollars and many sleepless nights. Check out our free 29 Essential Tips That Get Homes Sold Fast and For Top Dollar $$$ for the great advice.
Incorrectly pricing of your home
Pricing a home is complex, you could price your home too low and miss out on thousands of dollars profit. Price your home too high and you run the risk of losing buyers. Waste valuable market time and you will have to reduce the price until it sells. Work with a qualified Halifax Realtor who offers a Free Home Evaluation. The Realtor will be able to assess your home’s current market value. Realtors recommend a great price to help you navigate through the negotiation process.
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FSBO – For Sale by Owner
Sellers might think that selling their home without a Realtor will save them money not having to pay out a commission. In this case, underestimating the costs associated with selling a home like marketing and advertising which are necessary to attract qualified buyers. For-Sale-By-Owner (FSBO) transactions often sit on the market longer. Homes sold by Realtors typically sell faster and for more money.
In addition, you will have to schedule and conduct your own showings. It is awkward for buyers to have the seller present when viewing a home for sale. Buyers will rush through the house not remembering much of what they saw. Realtors have experience in qualifying buyers and conducting showings. FSBO sellers lack the training and skill to motivate a qualified buyer to the point of purchase. You could waste valuable time working with unqualified and unmotivated buyers. They may be only curious about your home and not serious about buying.
Avoiding a Pre-listing Inspection
A pre-listing inspection helps prepare your home for a successful sale. It identifies necessary repairs before placing your home on the market. Buyers will more than likely conduct their own building inspection, but a previously inspected home helps improve the buyer’s confidence.
When a significant problem with your home is discovered during the buyer’s inspection, it could delay closing or terminate your deal. These repairs could cost you thousands of dollars. If you don’t fix them, the buyers are going to expect a price concession. Pre-listing inspections will prevent unpleasant and costly surprises for both the seller and the buyer.
Not preparing your home for sale
First impressions are everything so you will want to make sure your home is either professional staged or by practicing the following steps:
o Keep your home clean and tidy
o Remove pet odours or any unpleasant odors
o Declutter and depersonalize your home
o Paint to refresh your homes appearance in neutral colors
Staging may sound like an unnecessary step, but most selling agents report that a staged home sells faster and for more money. The cost of hiring a professional stager varies on factors such as the size of your home and how many rooms you will want to stage. And whether or not you decide to rent decor and furniture. Most Halifax Stagers offer a Free consultation. If staging your home is not in your budget, check out our article Tips to Make Buyers Fall in Love with Your Home.
Roy Thomas SRES® (Senior’s Real Estate Specialist) is a REALTOR® with Sutton Group Professional Realty. Since 1991, Roy specializes in helping retirees with their later in life real estate transactions. Call Roy at 902-497-3031 or contact Roy here