Selling your home can be very manageable and educational when broken down into its component parts and plotted out into steps. The following is a list of common pitfalls encountered during the home-selling process. Use these as a guide to help your journey remain a smooth one.
It is essential you determine the asking price of your home based on its market value. Many times home-sellers let emotions or needs influence their asking price, based on the price paid for the house originally, or the amount of money invested in the home. This mistake may prove to be a costly one.
- If your home is priced significantly higher than the current market value, prospective buyers will reject it for a home that is listed at a competitive price.
- Buyers who do view your house may have significantly higher expectations based on the price than what you have to offer.
- Ironically, over-pricing your home actually increases the chances that your home will sell for less than it is worth.
- Driving prospective buyers away will increase the amount of time your home stays on the market, which raises an additional red flag for buyers. They become wary of the reasons your home has not sold, thinking, “If no one else has bought it, there must be something wrong with it.”
- The bottom line is: priced correctly from the start, buyers will come and it will be sold. Be vigilant, too, of pricing your home too low: a lack of market value awareness could result in selling your home for much less than it’s worth. Our TEAM can easily provide all the Comparable information you require to set the correct price.
Neglecting to showcase and stage your home
Take the time to ensure you’re offering the best possible first impression of your home to buyers.
- A few improvements done to your home before placing it on the market can increase the chances of selling quickly, and for more money.
- When buyers spot an area of your home in need of repair, they consider this perceived cost when deciding upon an offer price—if the thought of repair work hasn’t already scared them away. As buyers often are not sure about the cost involved for repairs, they will create a larger margin for error in their offer. Sellers are always better off dealing with these repairs themselves.
- In addition to taking care of repairs and touch-ups, make sure the house is clean, clutter free and welcoming. Ensure that the yard is well groomed and the approach to the door is easily accessible.
Choosing the wrong realtor
Many sellers choose the realtor who suggests listing at the highest asking price. This should never be the sole basis on which you choose a realtor—you must have confidence in the full spectrum of your realtor’s experience and abilities. Keep the following questions in mind.
- Can this agent explain to you all aspects of the selling process?
- Do they have a good grasp of the market?
- Do they have access to a large pool of buyers and a marketing plan to attract them?
- An experienced agent will usually cost the same as an inexperienced realtor. Choosing experience and a reputable company could mean more security and that your ultimate home-selling goals will be attained. Refer to our testimonials, awards and credentials and you will come to understand why when you choose the Cutler TEAM you can expect the BEST!
Trying to “Hard Sell” During Showing
Buying a home can be an emotional and even a stressful decision, and potential homebuyers don’t want to feel pressured when viewing a home.
- Let your home speak for itself.
- Allow potential homebuyers to comfortably view the house and property.
- As your REALTORS® we will point out the features your home has to offer that we know the buyers are interested in. We will answer questions the buyers might have. If we require further information to satisfy a buyer's concerns we will come to you.
Mistaking “Lookers” for “Buyers”
Many people who view homes may just be getting a feel for the market, gathering ideas for “showcasing” their own home, or even just looking for decorating tips. They may not be serious about buying a home at all.
- Of the people who are looking to buy, those who do not come throughwith an agent can be 6 to 12 months away from buying.
- They may still be in the process of selling their own home, or saving money for a new one.
- As experienced REALTORS® we are trained to separate the “Lookers” from the “Buyers.”
- We establish a potential buyer’s savings, credit rating, and purchasing power ensuring that their Buyer is qualified to purchase in your price range.
Limiting the marketing and advertising of the property
- The Cutler Team will ensure that your property is showcased and marketed in the best, most effective manner possible, employing a wide spectrum of marketing techniques.
- We are committed to selling your property, making the effort to distinguish your home from the hundreds of other homes on the market.
- Most calls are received—and viewings scheduled—during business hours. Our TEAM engages the benefit of a professional Assistant so there is always someone available to field these calls from prospective buyers.
- Lack of realtor availability, limited viewing times, not allowing a “For Sale” sign on your front lawn, can all affect the exposure your home gets to the pool of potential buyers, and will ultimately affect your bottom line.
Being unaware of your rights and responsibilities
It is essential that you are thoroughly aware of the details involved in your real estate contract. These contracts are often complex—but no matter how confusing and convoluted the language, the contract is legally binding. As you soon as you sign your name, you are responsible for all of its contents. Not knowing your responsibilities could cost you thousands in repairs and inspections. Put our experience, skills and knowledge to work for you and let us explain the contract to you, or get your lawyer to review it, before you accept.