When you put your house on the market, it is very emotional and exciting time all around. The best way to make it enjoyable and good experience is to avoid some of the biggest mistakes people seem to make over and over again. Don’t fall into their headaches.
- Hire an agent – yes, realtors get paid a nice price to sell your home, but there is a reason for that. Realtors will help you set a realistic price; have inside knowledge of the market and the neighborhood, and the sales going around you. Plus they will give you tips on staging your house and making it presentable and assist in showing the house to prospective buyers, and then help you negotiate the contract. There is a reason they get paid a lot, they wear many different hats, to help you get through the process.
- Set a realistic price - this is key to getting your home sold in a realistic period of time. These days Buyers are educated, and they know when a house is overpriced, and they just won’t look at it. Setting a marketable price will also help in having less days on the market, therefore less time cleaning and staging for you. The first two weeks on the market will give you a pretty good idea of where your price is and whether or not it is realistic.
- Expecting your asking price – putting your house on the market for $500,000 does not actually mean you are going to get $500,000. Depending on whether or not it is a Buyers or a seller’s market, you may get $475,000 and you may get $520,000. But be realistic in your expectations. Digging your heels in and being pig headed about your price will get you nowhere. I have seen too many people laugh at good offers in a falling market and 6 months down the road they are looking at an offer of remarkably less, wishing they had taken the first offer the first time.
- Skimping on photos – most buyers will look at your place as it comes on the market, and if it has no photos they will just pass on by. IN some instances there are tenants in the unit and they may not want to have photos on the internet and these wishes must be respected. In all other circumstances, photos and good ones are a must for today’s buyer.
- Trying to hide significant problems – not only is this dangerous to you and the Buyer but downright illegal! If you have significant problems in your house, such as cracks in the foundation, mould in the walls, or electrical problems, by law you must disclose this on your PCDS. If you don’t the building inspector will find it anyway. Save yourself the hassle.
- Prepare your home – cleaning and de cluttering will go a long way to making your house look presentable in the eyes of today’s fussy buyer. Clean as if your mother in law was coming to stay and you will be fine.
- Not accommodating potential buyers – I swear some people suffer from the “sell my house but don’t show it” syndrome. Be aware that as the Seller and your house is on the market you will have to vacate for showings at weird times of the day and night. And forget about plans on the weekend. Buyers tend to look at homes, once they a e finished work which means evening showings.