Filed under: Real Estate Tips
Making a few upgrades and updates is often a good idea before putting a home on the market. While some changes can add to the value of a home or, at the very minimum, make it more attractive to potential buyers, there are some changes that are not worth the added expense. Similarly, making a few poor decisions can significantly hurt your chances of getting the home sold quickly and at a reasonable price. Here is a look at some of the biggest mistakes that sellers can make before putting a home on the market.
Seller Mistake #1: Putting the Home on the Market Too Soon
It is normal to feel anxious about putting your home on the market right away, but it is important for you make sure your house is ready for the market before you go through with this step. Remember, first impressions are vital, so you need to make sure your home is presented to potential buyers in the best way possible.
Seller Mistake #2: Making the Home Better Than Other Homes in the Neighborhood
While you certainly want your home to be comparable to the other homes in your neighborhood, you don’t want it to be better than the other homes in your neighborhood. No one wants to purchase the nicest house in a neighborhood, as the nicest house is not a good investment. When making upgrades, strive to make the home comparable to other homes in the neighborhood rather than making it better.
Seller Mistake #3: Trying to Hide Problems
You might think that hiding problems is the best way to get your home sold quickly. While you may be able to “trick” someone into buying the house by hiding problems, you could also find yourself in a whole lot of trouble for failing to disclose the problems. If the seller finds that there is a problem with the house that you failed to disclose, you might find yourself being sued.
Seller Mistake #4: Hiring the Wrong Real Estate Agent
Hiring a competent real estate agent is essential, so don’t hire someone simply because that person is a relative or a friend. Make your decision based on the agent’s proven record and ability to get your home sold.
Seller Mistake #5: Setting the Wrong Price
Many sellers set the price based on the amount of money they hope to get from the sale. Unfortunately, you cannot set the price in this way, as you are likely to put a price tag on the home that is much higher than the fair market value. The market always controls the price, so look at the current market and set your price accordingly.
Seller Mistake #6: Staying Emotionally Attached to Your Home
Feeling an emotional attachment to your house makes it more difficult to see it for what it truly is. As a result, you overlook those things that are wrong with it and in need of repair. Being overly attached can also lead to hurt feelings when someone makes a lower offer on your house or otherwise criticizes certain aspects. Remember, once you put your house on the market, it is no longer your “home.” Rather, it is a commodity.
To learn more about how market your home effectively, consult with an experienced real estate expert in your area.