It is a fact that making mistakes is part of a human being. But when it comes to selling a home (one of the most expensive things), a simple mistake can cost you dearly. You want to be a bit smart, take your time and plan well so that you reap from what you sow. Here are some of the common mistakes people make, but will now be something for you to avoid:
Limiting your marketing exposure and opportunities
There are those times when circumstances will dictate that showings must be put on a certain schedule, especially when a property is tenanted. So, home sellers will try to accommodate showings with the tenants' schedule so as to stop frustrating them. You should note that putting restrictions on showings will be viewed as a seller not being serious about home selling. Don't restrict buyers from home showings. And make sure that you put a 'For Sale' sign on the lawn to give a tremendous exposure. Also, embrace the idea of open houses because the first persons to come and see the home will be your neighbors and the word of mouth will make the home to sell faster.
Assuming that all lookers are potential buyers
While it can only take one buyer to love and want your property, chances are high it will not be the very first person through. Although this can certainly happen, it is not so in most cases. You should note that a real estate agent will take potential buyers to similar homes for sale before getting to yours. And houses can also be flooded with people out for a weekend drive; just looking for the sake of looking. You are advised to be patient, keep your house in good shape, be accessible and a buyer will come.
Overlooking market trends and conditions
Oh spring is here! People watch for the grass to turn green, birds to arrive and for sale signs to be put on the lawns. You should note that while any time could be a good time to sell your home, spring is certainly the best. The market begins from February to April and this depends on several factors such as the interest rates, weather, politics and economy.
You don't want to overlook what is trendy! In some regions, attached homes are the norm, in others, townhomes are booming and in yet others, condos are the order of the day. You should note that it can take you about thirty days to sell your home in one neighborhood, but this is not the norm in another neighborhood. So, what is the norm for one neighborhood may not work for another. You need to interpret what is happening in the market in order to make a well informed decision.
Failing to showcase your home
You should note that while you love your home, your taste is your own and not everyone will love it as you do. People want to find a house that feels like a home, so they don't want to spend on improvements immediately. Therefore, it is imperative to think of where you can store your belongings while your house is on the market.
You can choose to have a garage sale, use PODS portable storage, donate to a charity organization or simply borrow a corner of your family's basement for a while so as to de-clutter your house. Remove all knick-knacks, paint the walls, wash the windows and fix areas that are wanting because you want your home to show well and eventually sell faster. Your effort will pay off tremendously.
Are you the type that feels that when a house sells the first day, you should have asked for more bucks? You should note that a quick sale could as well mean that the home was well priced. There are reasons why you should not overprice your house. The first is that buyers will want to look for a house whose price is at market value. So, they won't overpay for your home. Secondly, if you decide to reduce the price especially after two weeks, buyers will see this and want to wait until the price drops further.
Failing to engage a good real estate agent
Chances are high that sellers want to cut corners and avoid real estate agents so as to save on bucks. You should note that real estate agents come in handy, especially if you want your home to sell faster. Of course, you will have to give commissions for the work well done, but truth be told; you can even get slightly higher than the bucks you expected out of the sell. Realtors will bring both locals and transferees and they have a great convincing power.
At Ray Smiley, we will help you sell your home fast and at the best price. We are a trusted real estate agent in Ottawa and will be pleased to work with you. Contact us today for more information on our services.