Selling a home can be quite a hassle, especially in a market where supply is greater than demand. Furthermore, most homeowners have no idea how the real estate market operates. That said, how do you sell your home successfully in a short time? Avoid these 2 grave mistakes:
1. Letting Your Emotions Take Over
When it comes to selling a home that you’ve spent years and made memories of, it’s easy to feel emotional. This is more the case when it’s your first home being put on sale. The attachment is justified, especially because you put in a lot of time and effort to find the perfect house, let alone save money for a down payment. As such, when it comes to saying goodbye, most people struggle to keep their emotions in check. It sounds hard not to be emotional, but it is possible.
Instead of thinking of yourself as a homeowner, start thinking of yourself as a businessperson or a salesperson. More preferably, try to forget that you’re the one who owns the house. That way, you’ll be able to separate yourself from the emotional components of selling the property. This is because you’ll be approaching the deal solely from a financial standpoint. In addition, try to recall how you felt when looking for that house because the majority of purchasers will be emotional as well.
Therefore, putting yourself in the shoes of the buyer will make you want to remodel the house, to make it fetch more money. This happens when you realize that you’re selling a piece of property as well as an image and a lifestyle. Remember, these cosmetic adjustments will not only improve the sale price, but they will also make your home appear less familiar. As a result, developing a psychological detachment to your home will not be that hard after all.
2. Failing to Hire an Agent
Most homeowners claim that the 5% to 6% commission that agents earn is too expensive. However, selling your home without an agent is never a good idea. There are plenty of reasons why you should hire an agent. First, the agent is usually looking out for your best interests. Secondly, they assist you in determining a fair and competitive selling price for your house, improving your chances of a rapid sale.
Furthermore, your agent will have more bargaining experience than you, allowing you to get more money than you could on your own. And if any issues arise during the process, which they almost always do, an experienced professional will be on hand to assist you. Finally, agents are knowledgeable about all of the paperwork and problems that come with real estate transactions. As such, they can assist in ensuring a seamless transaction by eliminating delays. However, the decision to hire or not to hire an agent is entirely up to you.
Well, if you decide to sell your home without an agent, that’s fine. However, remember that determining an appealing selling price will need some research. Find out the price of recently sold properties in your neighbourhood as well as properties now on the market. Keep in mind that most home prices include an agent’s commission which means that you may have to lower your asking price.
Additionally, you’ll be in charge of your own promoting. Therefore, make sure your home is listed on the multiple listing service (MLS) in your region to attract numerous buyers. You’ll also be the one exhibiting the house and discussing the transaction with the buyer’s agent because you don’t have an agent. Understandably, this can be time-consuming, frustrating, and emotive for some. See here for FourLabs.
Wind Up
With these 2 key points, even the most inexperienced homeowner can successfully sell their home. As such, take them with you and they won’t disappoint!