If you've made the decision to sell your house, it's important that your sale plan be comprehensive and you avoid some of the most common seller mistakes. While you can work with a realty services professional to help you navigate the process, you should also understand the three core mistakes that sellers can make and how you can avoid them. Here's a look at the three things you need to know before you list your house.
Proper Pricing
One of the major mistakes that can reduce your chances of securing a home sale is pricing your home incorrectly. Whether you overprice it or underprice it, either one can discourage buyers. In order to price your home at a reasonable and fair amount, you need to do some research first. For example, look at the homes that have sold in your neighborhood over the last six months. Narrow them down to homes that share similar features with yours. That way, you're comparing sale prices of comparable properties. Your home should be priced similar to that of a home in your area that's comparable.
Evaluate the current housing market trend in your area. Are home sales trending higher now than they were six months ago? Consider that increase and price your home a little bit higher to account for that.
Finally, think about the time you have to sell. If you're in a situation where you need to close on the house quickly, such as when you're relocating for work, consider pricing the house slightly below the rate of comparable properties. If you've got plenty of time to wait for the sale, set your pricing more in line with the comparable homes in your neighborhood.
A real estate agent will also help you evaluate any unique features that your home has and factor those into the price. This is important, because otherwise, you could price yourself out of a sale.
Good Condition
If you want the best possible chance to sell your house, it should hit the market in the best possible condition. Buyers aren't going to want to negotiate repairs to reduce the sale price of a house. Instead, make it easy for everyone involved by making sure that any necessary repairs or upgrades are done before you list the house.
Sometimes, it's in your best interest to have a home inspection done before you list the house. This will identify any issues that might be uncovered during the inspection that happens as part of the sale. If you do this ahead of time, you can fix anything the inspector identifies, saving yourself and a prospective buyer from having to deal with it later.
Another key factor in the home's condition is your property's landscaping and care. Take time to make sure that the curb appeal of your property is the best it can be. It may mean hiring a landscaper to do some work, but that investment will pay off when you get a decent price for the house.
Effective Marketing
The way that your home is marketed to prospective buyers makes a big difference in how likely it is to sell. For example, if you work with a real estate agent who is pushing homes in another neighborhood or isn't strong in property marketing, your home may not be likely to sell as fast. If you try to sell it yourself and you lack the marketing resources of a full-service real estate firm, that is also going to put you at a disadvantage.
The key is to work with an agent who can show you a solid marketing plan, including mailers for potential buyers, MLS registration and even partnership with other agents in the area to show your home or book an open house.
Keep these tips in mind and work with an experienced realty service like The Gresham Group, and you'll be selling your house in no time.
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