Oro Valley Real Estate - Selling Mistakes
Not hiring a real estate agent to represent you may seem like an easy way to avoid paying commission, but you’ll miss out on a real estate agent's market knowledge, contacts and help with the process.
Waiting to Sell
Spring and early fall are often hailed as the best times to sell a house, but that doesn’t mean you should wait months to put your home on the market. While December and August see the fewest sales, homes sell every month of the year.
Pricing Too High
You want to sell your house for top dollar, but be realistic about the value of the property and how buyers will see it. Of homes that sell in their first week on market, 57% sell for the full asking price, according to a report by Zillow. By the fourth week, that share drops to 32%.
Refusing to Make Changes
Unless you’re planning to sell your house to an investor who will flip the property, selling your house “as-is” won’t yield the highest possible sale price. That means you'll need to update appliances, paint walls neutral colors such as gray or khaki and remove old carpeting.
It’s tough to remove belongings while you’re still living in your house, but presenting each room and space in its best light means you'll need to declutter in more ways than one. Get rid of items you don't need anymore, but also remove oversized couches and other large furniture that dwarfs the room, clear out closets so they don't look overcrowded and put away decor that displays too much personal detail.
Skipping Major Repairs
Updating kitchens or a new roof are expensive fixes that you may be wary of taking on, especially when you won’t likely recoup the entire cost in the sale. But you’re better off fixing these issues now rather than have the buyer ask for a credit to cover the cost of the repair later. This way, you have more say over who does the job and the total cost of the repair.
Cutting Costs on Photography
The first way many buyers see your property is by viewing photos of the house online, so don’t make them cross your house off their list before they’ve even visited. Most real estate agents include professional photography in their marketing budget. Make sure all photos give the buyer an idea of the size of the rooms. Also make sure photos are well-lit and keep you out of the frame in any reflections.
When your house is on the market, showing the house should be your priority. That means if you get a call that a buyer would like to tour the house, you need to be able to leave the house in pristine condition quickly. Even on holidays, an interested buyer is likely serious about making an offer and you shouldn't refuse a showing.
Being Unwilling to Negotiate
If you’ve received an offer for your house that isn’t quite what you’d hoped it would be, expect to negotiate. While you’ll naturally feel your asking price is more than fair, the only way to come to a successful deal is to make sure the buyer also feels like he or she benefits as well. If you would like to see the sale price come up, consider offering to cover some of the buyer’s closing costs or agree to a credit for a minor repair the inspector found.
Letting Your Emotions Get the Best of You
It’s natural to have some emotional attachment to your house after living in it for years and celebrating milestones, holidays and accomplishments with your family and friends there. But you have to view selling your house as a business deal. A low offer is not a personal affront, but a start that can either be negotiated up or declined. The more you can approach the sale of your house as a business deal, the better off you’ll be to make the transaction as smooth as possible.