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Seven Mistakes to Avoid When Selling Your House
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elling your home is not an easy process, in terms of both the actual logistics and the emotional connection you often have to your home. While most sales don’t go 100 percent smoothly, there are some common home-selling mistakes you can avoid helping make the process less stressful and less emotional.
4. Don’t let emotions interfere with your house sale To successfully sell your house, it’s important to separate your emotional connection to the home from the details of the transaction. It can be hard to negotiate with buyers when you love your home but acting like a professional is important.
1. Overpricing your home One of the most important steps to selling a house is decide on the correct asking price — the price that will let you sell in a reasonable amount of time, for a profit that you’re comfortable with. When listing your house for sale, one common mistake is giving in to the temptation of a too-high listing asking price.
Emotional mistake: Taking negotiations personally Do your best to keep a cool head during the entire selling process, especially during important negotiations. Be realistic and assume there will be at least a few issues uncovered during the home inspection. No home is perfect, especially older homes.
Ways for sellers to determine an accurate listing price: • Take a good look at a CMA from an agent • Hire an appraiser • Don’t worry about pricing a little lower 2. Selling at the wrong time The timing of your sale can make all the difference in the price you’re able to get. In most parts of the country, the best time of year to sell is the second half of April, however, it seems like the Atlanta market begins in February. The typical U.S. home listed during this window sold for much more, compared to other times in the year. Another timing-related issue that you’ll want to keep in mind has less to do with the month of the year and more to do with how long you’ve owned your house. To avoid capital gains taxes on the sale of your primary residence, you’ll need to have lived in the home for at least two of the last five years. 3. Skimping on repairs Even small defects can turn buyers off. If they walk through your home and find loose doorknobs, leaky faucets or wall dings, they’ll wonder if you’ve been neglecting bigger issues in the home as well. If you’re able to complete repairs before a buyer even sets foot in your house, your house will appeal to people looking for a turnkey, move-in ready home. Option 1: Pre-inspect and correct (If you’ve discovered issues in your home before you list) Option 2: Offer a repair credit Option 3: Lower the listing price Serving Cobb, Cherokee, Paulding, Bartow & Douglas Counties
5. Failing to prep and stage Making the effort to help your home look its best before listing is time and money well-spent. A clean, uncluttered, and bright home is what buyers are looking for. It’s important that buyers can picture themselves living in the home. And when your belongings are everywhere, that can be a tall order. Depersonalize~Cleaning~Decluttering~Staging 6. Hire a professional photographer Many real estate agents will cover the cost of professional listing photographs, but even if you’re not using an agent, professional photos are a must. After all, the majority of buyers search for homes online, and listing photos are your home’s first impression. Most professional photographers only charge a couple hundred dollars, and the result will be photos that are crisp and clean with lots of natural light, highlighting your home’s best features. 7. Not hiring an agent Unless you have the time, dedication and know-how to list your house for sale by owner (FSBO), you may be better off using an agent. Here are a few key benefits: · Your agent will deal with the many pages of paperwork required. · Your agent will minimize stress and help you focus on facts, not emotions. · An agent has expertise in your local market and what buyers are looking for. · They’ll do the pricing for you, using a comparative market analysis. Make sure you choose the right agent. The person you choose should be knowledgeable on the local market and have experience selling homes in your neighborhood. To find a great agent, read reviews, get referrals from friends and family members, interview multiple agents and set expectations.
Vicky Bates-Owner 770-427-4448
MaidinAmericaGa.com PAGE 38
Emotional mistake: Failing to accommodate showings Multiple showings and the occasional open house are just part of the home-selling process, even if they’re inconvenient. After all, few buyers are willing to purchase sight unseen! If you have a listing agent, they should be coordinating showings or providing a lockbox for buyer’s agents to do tours. Make sure to vacate the home, bringing kids and pets with you, when buyers are touring the home.
Deborah Ratchford Keller Williams Realty Cityside 678-570-4779 / Debratchford@kw.com
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