The top 4 mistakes to avoid when selling a home
December 21, 2022Selling your home might seem in some cases like an easy task, you may think that it only consists in publishing in a real estate property platform and waiting for it to attract clients and be sold. But the truth is that real estate and the activity of selling your own home itself can be a very tricky process that includes many aspects to have your mind and your actions on. This is why there are a lot of common mistakes that anyone can make when selling a home, here are the top 4 to pay attention to:
General pricing aspects mistakes
Pricing includes several variants and ways of not doing what is best for selling your home, one of those things is setting a price without doing a careful research before. This is the most common mistake for anyone who is new to real estate selling, because it is easy to think that selling a house can be as simple as selling any other kind of product online.
People tend to think that is posting and selling just like that. By thinking this, you may not do enough research and can end up making yourself losing money and not actually getting what your home is actually worth. Just checking listing portal estimates online or list prices of area homes. But the real value of your property can vary a lot based on availability in inventory, the time of the year when you are trying to sell and recent sales prices in your area or in properties with similar characteristics to your home. So, for arriving at a reasonable and more accurate price range, you must get a comparative marketing analysis.
Some of the common pricing mistakes include overpricing because you are not in a rush to sell your home. Statistic analysis shows that overpriced homes generate fewer showings than those that are priced closer to market prices, you have to know that homes with correct pricing tend to sell closer to the asking than homes that start too high. So there is no need to overprice because also the longer your home stays in the market, the less it is likely to be sold.
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Getting emotionally involved
You always need to have in mind that any kind of real estate transaction is at the end of the day a business transaction, and it needs to be taken as such. You probably value your property a lot, and you might have in mind that it costs way more than what the market may be willing to offer you. So do not get offended if you do not get the price you are looking for because it might make you lose actual good offers within the market price ranges.
Expecting the house to sell itself
You may think that some good pictures of the house and a good description of it might be enough for a buyer to be seduced by your property, but in reality, even if you are moving in a seller's market you will always have to keep an eye out to make sure that your home is in top condition, well staged and marketed in an effective and tasteful manner if you do want to sell quickly, at a good price, and fulfill your business expectations.
Trying to sell on your own
We can all be stubborn sometimes, and when it comes to selling your house, it is a very obstinate decision to sell or by yourself. Real estate business is not only something that can get tricky sometimes. It requires professionals that form themselves for years to know how to move in the market and deal with all the bureaucratic and legal aspects surrounding it. For remarking some facts,
According to the National Association of Realtors, for-sale-by-owner home properties stay on the market longer and sell for $39,000 less than those sold with the help of a real estate professional.
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Real estate business is something you are very likely to do in your adult life, and therefore it is always good to prepare yourself for it. You can always educate yourself and do different types of necessary research regarding pricing, marketing analysis, area analysis, and in general, real estate related information that can help you from falling in some of the mistakes mentioned before. It is important to either prepare yourself or work with the help of professionals for getting the best overall results with fast selling and accurate prices. Remember, at Cross Country Realty, we can advise and guide you through this process. Contact us and ask for information at 800.CCR.3606.