Listing your home for sale in the open market can be a stressful time. However, it’s important to remember that this process also presents a significant opportunity for financial gain. You want your house to sell for the best price possible, and while finding the right buyer and navigating the sale can be a time fraught with worry, the potential reward is worth it. Once you’ve cleared escrow and it’s a done deal, you’ll be able to look back on this journey with a sense of accomplishment and satisfaction.
However, selling a home can involve many decisions, and there are some bad choices you need to avoid to make the most of this opportunity, making the whole process as easy as possible and ensuring that things go as smoothly as possible.
Being Emotional
You probably have an emotional attachment, either negative or positive, towards your home, and you mustn’t become overly emotional when selling your home, as this can impact how you see it. Remember, buyers are likely to be emotional too, and you need to keep in mind that you’re selling a piece of property, an idea, or a vision to someone else, and you need to be able to make the most of this idea to help you make it more appealing. Remove the emotion, look at the possibilities, and be strategic about your feelings.
Forgoing A Real Estate Agent
While you can, of course, go down the FSBO route (for sale by owner), it isn’t usually recommended. Sure, you can expect to pay around 5-6% of the sale price of your home to the real estate agent, but the value they can bring out throughout the entire process is usually worth the fees you will be paying.
A good agent will have your best interests at heart, know the intricacies of listing and selling your home, and can be your guiding hand when it comes to your legal obligations as a seller. By taking on complex tasks and responsibilities, they can significantly reduce your stress levels, allowing you to focus on other aspects of your life. This includes finding the right listing price, bringing in the right potential buyers, helping you with the paperwork, finding contractors, and even handling legal forms on your behalf, such as whether or not you need a Quitclaim Deed Form.
Expecting The asking Price or More
Every savvy buyer will, of course, negotiate on the price, so executing to get the full asking price will only lead to disappointment. You need to come up with a good pricing strategy that will allow you to get the amount you want for your home without putting off buyers or making you too rigid and not open negotiations or offers. You might price higher than you want to be able to accept a lower offer and make the buyer think they’ve gotten a good price, or you might ask for a reasonable price and then have the lowest offer in mind that you won’t drop below.
Selling At The Wrong Time
Is there ever a right time to put your home on the market? There isn’t a time you should never list, but it’s common knowledge that winter listings don’t do as well as those placed during the rest of the year. This is because there are too many social engagements on, too many holidays people are focusing on, and the cold weather across most of the country puts people off wanting to go and view houses. If you want a quick, easy sale, then it’s a good idea to use the internet to get your home ready to tune in once spring rolls around.
