Being a home seller can be a daunting experience, but it can also be a rewarding one if you plan accordingly. Everyone makes mistakes and during a time in your life when you're likely juggling various responsibilities, planning a move, and keeping track of a number of financial matters, its easy to overlook certain things.
Sellers have a lot on their minds and pressure to sell quickly can sometimes overshadow the importance of taking several key steps. From home seller's fatigue and burnout to an unwillingness to settle, there are a number of factors that can serve as roadblocks to a smooth and simple property sale. But don't fret; we're here to make sure that doesn't happen for you. That's why we've put together this list of 6 common selling mistakes that we've encountered in the real estate world.
Avoid these common blunders and you'll be well on your way to a successful deal.
1. Not Pricing Your Home Correctly
It's been said that pricing your home accurately is one of the most important factors in ensuring a successful sale. We certainly believe it's near the top of the list. Choosing a listing price is not an exact science, but it's not something that should be taken lightly either. The price should be determined strategically, based on in-depth understanding of current market conditions. Pricing your home too high carries risks such as the possibility of losing qualified buyers who use price ranges to search for listings online. In addition, if your home racks up too many days on the market, the stale listing could cause searchers to second-guess considering the home.
We recommend that you have a Comparative Market Analysis conducted for your home. This detailed report looks at various influential determinants to establish a price point to list at. Rather than testing the market to see "what you can get" for your home, a CMA allows you to determine an appropriate price that will benefit you more than gambling on a higher number. If you're working on finding the right listing price for your Pearland home, we can help. Simply fill out our seller's form and we'll put together a free Comparative Market Analysis for you.
2. Not Working With A Professional
You may have heard about the advantages of selling your home without the help a qualified real estate agent, and it certainly is an interesting choice. However, if your main reason for considering this option is the possibility of saving money, your best bet is to stick with an agent. Your agent can build connections with motivated buyers, something that most individuals don't have time for. They can also respond quickly to inquiries about the home which is highly important considering how swiftly home shoppers can move on if they don't get the information they need. In addition, if you work one your property sale alone, you run the risk of getting seller's fatigue. Essentially, this is burnout from long days or weeks of meeting with prospective buyers, promoting and showing your house, and dealing with potential deal fall-throughs. All these factors can take a toll on sellers and cause them to miss crucial steps or take their focus away from other day-to-day demands. An agent will help you keep your well-being in check.
3. Staying For Open Houses And Showings
If you do choose to work with an agent, make sure you don't stick around for open houses or property showings, regardless of how tempting it is. As much as you'd love to meet interested buyers and extol the virtues of your home, there are a few reasons to take a trip to the park or mall instead. First of all, it can buyers the impression that something is fishy or not being made clear. For the most part, however, buyers may not feel as though they can be entirely forthright in their questions and you may not be totally bias-free — it is your home after all. Home shoppers can be much more open in the presence of a neutral 3rd party like an agent and will find out more about the pros and cons of the home in relation to their needs. Plus, if they avoid the tough questions due to your presence, they're less likely to follow up later and much more likely to simply move on.
4. Selling A Home As-Is
Going through the process of manicuring your home's exterior, cleaning the interior, and having it staged may seem like a lot of work. Perhaps you'd rather skip those steps and go straight to selling, even if it means a little less money. After all, how can you be sure that the money you invest in prepping and priming your home for the market will come back to you? If these thoughts are running through your head, you should probably reconsider. A home that hasn't been properly cleaned, upgraded, and arranged is in danger of selling for significantly less than its potential. This is particularly perilous in a buyer's market in which you have to ensure your home stands out among the competition. Removing personal items, stylishly reorganizing, and following the latest seller preparation tips are key steps to targeting the right buyers for your property. Don't sell yourself short — invest in property preparation. If you're limited on time, consider hiring professionals to take care of all the home prep for you. Your home will be well-composed to meet the latest buyer demands.
5. Not Willing To Incentivize
As a seller, don't let your ego get in the way of incentivization. As we mentioned earlier, differentiating your home is a crucial way for sellers to gain an edge. Possible options could include everything from partial closing cost credits to country club memberships and furniture.
6. Not Considering Your Agent's Marketing
Not all real estate agency marketing strategies are created equal. Some agents are only willing to invest a certain amount into marketing your home; others simply aren't in-the-loop on the latest tactics and technologies. The Sam Team will ensure that your home is targeted at the right buyers through innovative online and offline marketing methodologies. Learn more about our leading edge marketing approach!
If you're considering selling your Pearland or Manvel TX home, reach out to The Sam Team today! We're happy to discuss how we can help you with every step of the sales process, and we'll provide you with the latest industry advice to help you stay on top of the market.