So, you want to sell your home do ya? Great! So what’s holding you back? Nothing really… just need to clean the place up a bit, put an ad up on craigslist, throw an awesome going away party, maybe put a sign up in the yard, and vualla! After all it is a beautiful house. Finding a buyer should be no daunting task. Heck with all that money your going to make you could afford a nice little family vacation on top of that beautiful new upgrade your going to purchase. Sounds easy enough right? I mean, do you even need to hire a professional? Nah, why would you pay thousands in commission fees to have a professional hold your hand through the selling process. I mean, what is an agent going to do that I can’t?
Let’s fast forward a few weeks. You have found your next home, have been pre-approved for a new loan (and planning to make a hefty down payment from the proceeds of your sale). You’ve made your offer on it, are all packed up (mostly anyway), and ready to go! Nice job right! Wait a second… your home won’t sell! Why not? After all the place is gorgeous, a ton of homes have sold in your neighborhood, and you have been updating your craigslist ad at least 3 times a week. In fact, you have had only 2 or 3 people stop by to ask about your home, but none have expressed the interest you were expecting. What is going on here?! Should I drop the price? Are my potential buyers seeing something I missed? Do I need to consider holding an open house? Isn’t the sign in my yard enough to market my home? Is it just not the right time to sell? Do I really need to hire a professional? What am I doing wrong!?
If your planning on selling your home in the near future, there are quite a few things you need to consider. We can all agree the end result is about NETTING YOU THE MOST AMOUNT OF $$$. Right? However, selling your home is a huge financial decision, and it can be helpful to discover what your doing wrong in order to start doing things right! Let’s take a look at the most common mistakes home owners will make that guarantee their home won’t sell!!!
IF YOU DON’T WANT TO SELL YOUR HOME…..
Over pricing your home is a surefire way to guarantee it stays on the market. Whether you like it or not, the market will dictate your home’s value. Buyer’s will be looking through comparables, and are only willing to pay what they think your home is worth. Remember, everybody loves a great deal! Overpricing also means that you will eventually face a price drop. By the time this happens the “buzz” around your newly listed home has gone stale, and you can expect far less potential buyers previewing your home!
SOLUTION: Price your home 3-5% below market value. This will help generate a high level of interest in the first few weeks, and increase your chances of receiving multiple offers and selling ABOVE market value!
DON’T MARKET YOUR HOME!
Placing a sign and praying just doesn’t cut it in today’s market. A very large percentage of home buyers find their properties online. With all the information they need to make educated decisions available at their fingertips, who can blame em?! There are a ton of websites available that buyers are using on the regular, including zillow, redfin, trulia, and of course the MLS (talk to your realtor!) Word of mouth can be very effective as well, so getting the word out in your neighborhood can really help to increase exposure! You never know who has a cousin or co-worker that is ready to move in!
SOLUTION: Sit down and write out your marketing plan! This should include which online resources you plan to use, how many open houses you are willing to hold, who and how many people you are going to contact, and what kinds of attractive signage you are going to use. (If you need help ask about our 13 step marketing plan!)
MAKE IT ALL ABOUT YOU!
Picture this. You’re a prospective buyer and out viewing properties on a sunny afternoon. At the end of the day, 2 homes really stand out in your mind. One was properly staged, had a brand new “neutral” colored paint scheme, and was cleansed of yard clutter and family photos. You can totally SEE your family living there. And although it is priced a little higher, it is still within your budget. The other is cleaned very well but full of the owner’s belongings, family photos, nic-nacs, and a very bold (and hideous) paint scheme. It is priced slightly lower, and still has all of the features you are searching for. You need to make the decision now, because both of these homes are sure to sell quick! Which one do you pick?
SOLUTION: Clean yourself out of the home! Home buyers are going to want to picture themselves in the home, and this can be difficult with YOU in the way! Put away your photos, clean the yard up, and reconsider that outrageous paint job!
NEVER HIRE A PROFESSIONAL!
Yes, it can be expensive to hire a realtor. Yes, you will pay thousands in commission fees (Usually 6%). And YES, you will get your home SOLD faster and NET more money! 90% of sellers list their home with an agent. There is a darn good reason for this! Selling your home takes time, and requires you to know the neighborhood market trends. Also, if you expect to sell for top dollar, you had better sharpen your negotiation skills! Sellers who list their home with an agent can expect to net up to 20% more than their “For Sale By Owner” counterparts! Now that’s a reason to take a vacation!
SOLUTION: Take your time to interview a few agents. Look for knowledge, experience, and above all confidence! Keep in mind it is about NETTING YOU THE MOST AMOUNT OF $$!
Obviously there is alot to consider when selling your home, and this only scratches the surface! As your local real estate expert, I would love to help point you in the right direction. If you have any questions please leave a comment below, or feel free to stroll through my website at findmyhomeroseville.com. Thanks for reading and have an amazing New Year!