Top 7 Mistakes in Selling Your House

Selling a house is not something that you can learn overnight or read out from a manual. It comes with experience in the market and one need to learn from the experts. It can be extremely difficult for first-time home sellers. Selling a house has become complicated unlike the time when you purchased your first home, a part-time agent covered pretty much everything, and all you had to do was to shift in the new house.

A real estate transaction is a complicated process and it starts with looking for a listing agent, marketing the house, working on financials, and closing the transaction. Here are some common mistakes that first-time sellers make and if you are planning to sell your house, keep these in mind.

·         For sale by owner: It might seem tempting to save upon all the brokerage and fees associated with a real estate agent. However, without proper knowledge about real estate transactions, it might be the costliest mistake you are ever going to make. A Realtor® offers intense market research and helps you with marketing as well as legal aspects of the house. In some cases, he/she might use connections to get a job done and close the transaction successfully.

·         Overpriced house: Who wouldn’t like to make extra money on their house? Some sellers overprice their property and limit the number of buyers interested in their property. Working with a real estate agent can be helpful in terms of current market price research and ideal value of your house. If you are living in a seller’s market, it might help to set a lower price and tempt buyers into entering bidding wars. Your house will end up with a comparatively higher offer.

·         Not paying attention towards maintenance: While preparing your house for sale, you need to work on repairs and maintenance problems along with staging. As many as 70% of the buyers won’t choose a property that needs multiple repairs. In fact, many buyers might just cancel the deal because of a leaking roof or holes in the wall. By investing a few thousand dollars, you will be able to get the top price for your property and immediate ROI on your repair investment.

·         Cutting the advertising budget: Is it possible to sell a house without advertising? Well, it might be but not without tons of difficulties. A solid marketing strategy will help you bag multiple offers and you will attract healthy stream of buyers. You need to invest money in online listings, newspaper advertisements, signage in the yard, and word of mouth promotion.

·         Choosing the wrong Realtor®: This is the biggest mistake in selling your house because your profit margins and time for closure depends upon the skills of your Realtor®. An incompetent professional might charge low but you might end up with a lower offer and lesser profit margins. Some of the common mistakes made by immature real estate agents include irrelevant pricing, limited advertising, and losing potential client by limited activity.

·         Not putting in the staging efforts: A buyer would love to buy a house that looks perfect to shift-in without too much of repairs or preparation. If you are not willing to prepare your house for sale, you might lose potential buyers and even disappoint them with your house. It will stretch the market time of your house, potentially harming its market value. When you decide to put your house on the market, remove clutter and clean your house properly.

·         Successful sale requires flexibility: Being flexible is an important part of the sale and you have to be ready to receive a low-end offer. Instead of refusing offers upfront, it is best to make a counteroffer and open gates for negotiation. Similarly, it might help to contribute towards the closing cost and offer seller-contributions with the sale. It will attract more buyers to your house.

For assistance in pricing your home for the Market

Call, Text or email me - (907) 868-2811, yvette.belisle@gmail.com or

visit my website at www.alaskanspiritrealty.com

 Provided courtesy of Yvette Belisle - Alaskan Spirit Realty