What NOT to do when selling a house
Introduction:
Selling a house is not rocket science. You need to have two things, a house, and someone who wants to buy it.
Yet, if it is your first sale it can get confusing and feel stressful. Luckily for you, we have prepared a list of tips to help you get the best deal possible.
Summary:
Don’t Let Your Emotions Influence Your Decision.
Don’t do Everything by Yourself
Don’t Over/Under Price your House
Don’t Let Your Emotions Influence Your Decision
Don’t Forget to Research Your Market
Don’t Fake it till You Make It
Plan The Selling Strategy
Be Ready to Negotiation
Qualify Your Buyers
Don’t Forget to Make it Look Nice
*Bonus Tip*
Don’t Let Your Emotions Influence Your Decision
One of the most expensive and difficult decisions you’ll ever make is selling your house. You can decide how to sell your house in a way that is best for your family if you don’t allow emotions to influence your decision-making.
Selling your house can be a bittersweet experience. We often feel emotionally attached to things we own. Moving away from your home can feel like a piece of you being taken away. Embrace those feelings. Emotions will fluctuate during the process and that is to be expected. As difficult as it can be to sell your house, remember that your next one will also be filled with sweet memories and good times.
Don’t do Everything by Yourself
It’s not impossible to sell a house on your own, especially if you’ve done it before. But having another person on your team will make things easier. Even though real estate brokers charge a large —5% to 6% of the sale price of your property, the return they can bring to your deal is usually much higher.
Your chances of a rapid sale will rise as a result of their help in choosing a reasonable and affordable asking price for your house. Your realtor will help in communicating with possible buyers and weeding out tire kickers who want to look at your house but have no plans to make an offer.
In addition, a professional agent may help reduce the emotional intensity of the process. Which could be a game-changer.
Don’t Over/Under Price your House
The market is hot for sellers when there are fewer houses on the market. Buyers won’t always overpay for a house, though. Sellers leave too much opportunity for negotiation as if they are attempting to sell something online.
Houses that get quicker offers tend to be priced appropriately based on the current market conditions. And by encouraging many bids, a competitive price lets the market decide how much the house is worth.
The seller who asks for more than their house is worth and aims for the stars eventually misses out on eager, willing, and able purchasers. The property might be pegged as being priced too high, and potential purchasers may decide not to purchase it.
Don’t Forget to Research Your Market
Whether you are buying or selling a house, you should always do a real estate market analysis. It will help you understand the current market, and how much comparable houses are worth. Additionally, you will get a much better insight into the real estate environment in your community.
Reports are produced by real estate brokers and agents. They can assist you in setting the most appropriate price for your property regarding the market. This research data assists both the seller in setting a listing price and the buyer in determining if the price is fair.
Don’t Fake it till You Make It
Don’t fake it when it comes to selling your house. People value honesty and transparency and for you to sell the house to a potential buyer you should establish trust. Do not try to fool people by showing them pictures from the internet and pretending that’s the house you are selling. Don’t overdo it with the description either. Be factual, honest and create a description that accurately represents your house. Be as transparent as possible. Stay open-minded and do your best to answer every question the buyer might have regarding the condition and the history of the house.
Plan The Selling Strategy
Selling your house is like a game of chess. Not only do you need to have a well-planned strategy before the game starts, but you need to be able to think on the go and make fast changes.
First and foremost, is the correct valuation of your property. You need to price your house right. Your agent should be your go-to person for the most desirable valuation. People undersell their houses every day and then cry over the potential income they lost. That is why you should play your moves right from the very first step.
Be Ready to Negotiation
Regardless of how precise your price is, buyers will always try to negotiate. It is an age-old rule of the market, so expect some customers to come at you with low-ball offers.
Depending on the location of your property some buyers might try to bid each other out, which is the most favorable option for you. You need to be ready to negotiate if sales are slow in your region and you don’t receive many offers.
Usually, once you receive an offer, you can accept it, reject it, or make a counteroffer. But keep in mind that the money you are getting might not be the only decision-making factor. For instance, types of financing and timing might make a huge difference to the deals you are making.
Qualify Your Buyers
Your time is precious, and if selling houses is not your full-time job, just focus on serious buyers only. If you are in a situation where you need to sell fast then a cash buyer might be the best option for you to consider.
Remember, time is money, and pre-qualifying your potential buyers might just help you sell your house.
Don’t Forget Curb Appeal and Condition
The price of your house depends on many factors, however, the visual appeal has undoubtedly the biggest impact on how potential buyers will see your house. It’s pretty straightforward, the better your house looks, the more you will get out of it. That means that even before your house hits the market, you should invest in doing minor repairs, clean up and even staging. If you choose to go with a cash buyer like Fair Property Buyers due to the condition of your home or circumstances, you won’t have to do any repairs or clean up. Our buyers will purchase your home as is.
Once everything in your house is clean and repaired, it is show-ready. This will have a significant influence on how others see your property.
Keep in mind that everything you do should be neutral and subtle. Depersonalizing and decluttering your house might seem a bit boring, but it will make buyers feel way more welcome.
Lastly, make sure that your yard is clean and tidy, and you emphasize curb appeal. The exterior is just as important as the interior.
Do not be awkward!
Yes, selling a property is a very stressful and difficult process. But keep in mind that you are selling a home that will be brand new to someone else. Try to relate with potential buyers as much as possible. Understanding their home needs and desires is crucial because they are making one of the biggest investments of their life.
