Homes are one of our biggest assets and we naturally expect a good price which is possible under the right circumstances. However, house selling especially is you have not done it before can be emotionally challenging and time consuming. Strangers will keep coming to your home look around the cabinets and closets, some criticizing a place that is more than just four walls while others will offer less money that you think the house is worth. Without knowing how to deal with such a complex and emotional transition, an inexperienced home seller will make the following mistakes which can be avoided altogether.
· Getting emotionally attached
When you decide to sell your house, you should think of yourself as a homeseller or a businessperson instead of a home owner. Look at the transaction purely from a financial perspective and distance yourself from all emotional aspects of selling a house that you have created so many memories in.
· Not hiring an agent
Although real estate agents charge a high commission; 5-6 per cent of the selling price, trying to sell your house and you have never done it before is ill-advised. A good real estate agent will help you determine the best and most competitive price for the house, interact directly with the buyers and eliminate tire kickers who have no intention of putting in an offer.
· Setting an unrealistic price
Whether you have hired an agent or not, setting a realistic price is key to selling a house. The same way you did comparable market analysis when buying the house in order to figure out the market prices, the new buyer will also do the same.
An overpriced house will certainly not sell but you should not worry too much about setting a lower price as it will only generate multiple offers and you can adjust the price to the true market value. In fact, underpricing can be used as a strategy to help generate interest to your listing.
· Expecting to get the exact price you are asking for
Any buyer will negotiate and you should be able to play the game. List the house at a price that will attract buyers but still leave room for negotiations. This makes the buyer feel like he or she is getting a good value and allows you to get the right amount of money from the sale.
· Not preparing the house for sale
Failing to repair and clean a house before selling reduces its value and makes it unattractive to buyers. If you are unable to hire a professional, you can do most of the things on your own like cleaning and repainting the walls or repairing broken cabinet doors.
Avoiding thee above house selling mistakes will go a long way in helping you achieve that lucrative sale that every homeowner dreams of.