Yes, learning from your mistakes is certainly a part of life and can definitely be an extremely worthwhile process. However, when it comes to something as important as selling your home, it’s probably better to learn from other people’s mistakes.
Therefore, if you’re thinking about listing your home in the near future, the following are five common mistakes that, if avoided, can save you a lot of money and trouble.
FOR SALE BY OWNER. You may have heard that putting a “For Sale by Owner” sign in your front yard is a great way to save money. However, in this era of DIY projects and fix-it-yourself endeavors, you should resist the urge to tackle the real estate market alone.
There’s a reason that people dedicate their entire careers to the housing market. In short, selling your home involves a lot of money, so it’s not something you should take lightly. Working with a licensed agent helps ensure that you’re not losing your finances through a poor listing price or faulty closing contract.
If you absolutely feel the need to sell something yourself, consider unneeded furniture or other items that will simply detract from your home’s overall appeal. Sell your coffee table yourself, not your home.
“BUT SHE’S MY FRIEND…” Plain and simple, not all agents are created equal. In addition to specializing in certain counties or neighborhoods, certain agents are better than others when it comes to residential real estate, luxury properties, foreclosures, etc.
In addition, just because your best friend’s aunt dabbles in the industry doesn’t mean she’s the best person to sell your home. Picking the wrong agent can have serious consequences, so it’s important to choose someone with ample experience. Don’t be afraid to do your research before selecting someone who meets your needs. It’s your home and your money, so feel free to be choosey.
MAINTAIN A BIT OF REALISM WHEN PRICING YOUR HOME. We’ve heard it our whole lives—aim high. Reach for the stars. While that tends to be great advice in regards to following your dreams or doing well in school, it’s not always very prudent when it comes to pricing your home. In short, it’s better to be smart than overly eager, so listing your property at a price above its market value may hurt your chances of getting the most for your home.
You don’t want to find yourself getting a lower sale price than you were hoping for, so work with your agent to set the best, competitive price.
DON’T SWEAT THE SMALL STUFF. Yes, this may be difficult to remember when stressing about the cost of repainting your pink bathroom or dealing with pre-sale repairs, but keeping things in perspective is important. The goal is to make it to the finish line of your home sale, so try to keep your eyes on the rewarding outcome instead of the dollar signs bouncing around your head. Once you sign the closing papers, chances are good that you’ll forget all about those smaller frustrations, so try to enjoy the ride as much as possible.
KEEP YOUR EMOTIONS IN CHECK. As much as you may love the pencil marks on your wall that correspond with your children’s yearly heights, try to remember that those heartfelt stories are not going to win the hearts of prospective buyers. Sure, no one can argue with the fact that your home may hold an abundance of personal history, but emotions can cloud your judgement. As an impartial player, a great agent can help you make smart, strategic decisions.
If you’re ready to sell your home or you know someone who is, please feel free to contact me for assistance. I’d love to help you move to the next chapter of your life.
Marie Dinsmore | The Dinsmore Team | www.DinsmoreTeam.com | 770-712-7789