Thursday, March 3, 2022 / by Brian Armstrong
Top 5 Mistakes Home Sellers Make
Ready to sell your home this spring? As the temperatures warm up in the Green Mountain State, you are not alone. Spring is one of the most common times of year for a homeowner to put their home up for sale, so it is essential to make sure your property is competitive against others coming to market. Throughout the process, there will be a variety of decisions for you to make, which will ultimately determine if you have a successful and profitable sale. Below we outline the top 5 mistakes you should avoid when selling your home!
Selling The Home "For Sale By Owner"
Many homeowners believe that they can save money selling their homes without a real estate agent. Sellers that hire an agent commonly pay about 6% of the sale to the agent for helping them close their deal from start to finish. While this may sound like a large chunk of the sale, the added value of having a knowledgeable agent can help sellers achieve higher offers and fewer days on the market by bringing in qualified buyers. From marketing your home to final negotiations with buyers, having an expert assist you can be invaluable for your home sale.
Overpricing Your Home
One of the biggest mistakes you can make as a seller is overpricing your home. When you set your starting price too high, it often results in the home staying on the market for longer than average. The longer a home sits on the market, the less desirable it becomes to buyers. Working with a real estate professional that can help you land a price that suits the market, your home's condition, and your location is the best strategy to ensure your home sells quickly and for its highest value. Appropriately pricing your home will encourage more prospective buyers to view the property, which will increase your chance of an effective sale.
Not Properly Disclosing Issues
When it comes time to sell your home, you will want to outline the issues with the home from the get-go. You may think that the buyers won't notice the furnace issue but trying to hide material facts will land you in a lot of trouble with your real estate deals. Being upfront about your home's condition is the best way to gain the trust of potential buyers enabling deals to close on time. Your real estate agent is legally required to disclose any issues with your property to prospective buyers, so having an agent on your side will protect you from failing to disclose items about the condition of your home.
Lack of Online Presence
Did you know that 93% of buyers say they look for homes online when they are searching to make a purchase? The digital age has taken the world by storm, and real estate has also seen major shifts toward digital technology. Having a strong presence online will help you pull in more buyers for viewings which as we mentioned above, will help you get closer to a sale. Make sure your real estate agent has the means to get your home in front of qualified buyers through professional photography, listings across home selling platforms, social media presence, inbound and outbound marketing, and more!
Not Preparing for Showings
Once your listing goes live, buyers will choose to either see your home at an open house or at a private showing. This stage is crucial as this will be the first in-person impression you can make with buyers, and you want to allow them to envision themselves living in your home. From cleaning up clutter and giving everything a solid scrub, you want your home to present at its best. Your realtor will work with you to make sure your property is ready for sale. They may even recommend certain repairs be made prior to listing that will help you get closer to the closing table. If you are unsure of what your home needs, your trusted agent will always be there to ask questions.
Ready to sell your home? We can get the ball rolling for you with an accurate home valuation, give us a call at 802-735-2167 or send us an email at firstname.lastname@example.org!