First time home sellers often make lots of mistakes, but most can be avoided with advance planning and knowledge of what to expect.
Not detaching yourself.
You've decided to sell, so it is time to begin thinking of your home as a product, by looking at it from a financial perspective. Put yourself in the shoes of potential clients, and think about minor changes and improvements that will appeal to their emotional, buying state. Set the stage for individuals to be able to visualize themselves living in the home and making memories for their family, and you will usher in maximum profit for yourself.
Not obtaining help.
Selling without an agent is doable, and it can save you 5% to 6% of the sale price of your home. Selling on your own means that you are totally responsible for the sale; taking the calls, answering queries, setting appointments, showing the house, negotiations, and also the mountain of paperwork that goes together with a home sale are all tasks you may need to handle.
A good real estate attorney will be able to offer assistance through the sale, as well as take care of all the required documents. If you feel comfortable showing the house and talking with potential buyers, you may be able to sell by owner along with your attorney's assistance.
On the other hand, a real estate agent can assist in a number of ways. Setting a competitive price will increase the chance that it will quickly sell, and no one knows the market better than someone who works in it every day. Another service agent can offer is qualifying customers for you. They know the questions to ask to make sure this isn't a tire kicker, and will do some preliminary screening regarding the potential buyer's financial situation so there aren't any surprises later. Agents also have tons of experience negotiating sales and seeing them through to close, and often know how to handle any issues that occur to keep the sale on track.
Trying to be Cheap
Many people decide to handle things alone to save the agent's commission, and this is fine as long as you've done your homework. Be sure to get prices on recently sold homes in your area before setting your price. Additionally, take into account those who are currently on the market, which are your competition. Set your value a little above what you will ultimately sell for, to provide the buyer some wiggle room.
Selling is an area where you want to spend the money. Your house could be the best bargain on the planet, but if no one is aware of it, you'll never sell. Experts estimate you must spend from 1% to 3% of the asking price for advertising. Especially important is listing on the local MLS (multiple listing service) because this can broadcast your listing to a wide audience and produce the most traffic. Take many pictures of your home, showing it in the best light, to enhance your listings.
Timing is everything
The most effective time to put your house out there is spring, especially if it's located in an area with good schools. Families tend to move during summer vacation so that the children can start at their new school in September. You will get more people out to check your home, and a lot of potential buyers, in the spring and summer months.
Avoid selling in the winter. Not only is it cold, but most people have a full social calendar, especially close to the holidays. Who wants to think about packing and moving around Christmas? There will definitely be fewer buyers looking during the winter. On the plus side, those buyers who brave a blizzard to come look at your home might be quite serious about making a purchase quickly.
Not detaching yourself.
You've decided to sell, so it is time to begin thinking of your home as a product, by looking at it from a financial perspective. Put yourself in the shoes of potential clients, and think about minor changes and improvements that will appeal to their emotional, buying state. Set the stage for individuals to be able to visualize themselves living in the home and making memories for their family, and you will usher in maximum profit for yourself.
Not obtaining help.
Selling without an agent is doable, and it can save you 5% to 6% of the sale price of your home. Selling on your own means that you are totally responsible for the sale; taking the calls, answering queries, setting appointments, showing the house, negotiations, and also the mountain of paperwork that goes together with a home sale are all tasks you may need to handle.
A good real estate attorney will be able to offer assistance through the sale, as well as take care of all the required documents. If you feel comfortable showing the house and talking with potential buyers, you may be able to sell by owner along with your attorney's assistance.
On the other hand, a real estate agent can assist in a number of ways. Setting a competitive price will increase the chance that it will quickly sell, and no one knows the market better than someone who works in it every day. Another service agent can offer is qualifying customers for you. They know the questions to ask to make sure this isn't a tire kicker, and will do some preliminary screening regarding the potential buyer's financial situation so there aren't any surprises later. Agents also have tons of experience negotiating sales and seeing them through to close, and often know how to handle any issues that occur to keep the sale on track.
Trying to be Cheap
Many people decide to handle things alone to save the agent's commission, and this is fine as long as you've done your homework. Be sure to get prices on recently sold homes in your area before setting your price. Additionally, take into account those who are currently on the market, which are your competition. Set your value a little above what you will ultimately sell for, to provide the buyer some wiggle room.
Selling is an area where you want to spend the money. Your house could be the best bargain on the planet, but if no one is aware of it, you'll never sell. Experts estimate you must spend from 1% to 3% of the asking price for advertising. Especially important is listing on the local MLS (multiple listing service) because this can broadcast your listing to a wide audience and produce the most traffic. Take many pictures of your home, showing it in the best light, to enhance your listings.
Timing is everything
The most effective time to put your house out there is spring, especially if it's located in an area with good schools. Families tend to move during summer vacation so that the children can start at their new school in September. You will get more people out to check your home, and a lot of potential buyers, in the spring and summer months.
Avoid selling in the winter. Not only is it cold, but most people have a full social calendar, especially close to the holidays. Who wants to think about packing and moving around Christmas? There will definitely be fewer buyers looking during the winter. On the plus side, those buyers who brave a blizzard to come look at your home might be quite serious about making a purchase quickly.
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Another great article by Croom Brandi Real Estate, Northern Trust Real Estate Check here for free reprint licence: How To Avoid Mistakes When Selling Your Home.
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