SIX (6) Costly Mistakes... How to Avoid Them
Don't Hire a Lesser Agent or Realtor
This can be one of the most costly mistakes. Not just on lost net profit but also exposure to litigation and wasted time. There is no substitute for superior Realtor. To give yourself the greatest advantage and highest level of protection always select a longstanding Realtor who is a proven top producer. It's true many agents can be very persuasive in selling themselves and their employing company. One of the best ways for you to cut through the rhetoric is a simple 2-part plan. Use this - checklist - of questions and ask for the supporting documentation. The goal is to net the most profit in your sale, keep yourself free from litigation and simplify your life.
Don't Show Your Home Before it's Ready
A first impression is forever… outward signs your home may not have been well maintained tend to diminish its value within the mind of a Buyer. Reasonable repairs and sprucing-up should be done prior to any showings. Start with curb appeal items. Pre-marketing includes street viewing and is very important for a attaining the highest price and fastest sale. A great curb appeal creates anticipation within a Buyers mind and helps generate an early emotional attachment. Next address issues with paint, flooring, fixtures and general aesthetics. As always, consult with us for guidance in getting top dollar for your home.
Don't Try to Cover Up Problems
Full disclosure of any known material defects is always best. In fact, it's the law. Fully informed agents will be using various disclosure forms to aid in minimizing your liabilities as the Seller of a home. Be 100% truthful when filling them out or answering any related questions. Undisclosed known defects can be a source of future litigation and extremely costly. Thankfully the financial impact of most if not all disclosed defects can be negotiable items between you and a Buyer. Let us help you navigate any such circumstances with the protection appropriate disclosures can provide.
Sometimes the biggest problem in listing a home is trusting enough to ask for help. ...DWS
Don't Over Invest With Improvements
Numerous investments, time and money, can be made in preparation for a home sale. Many can yield surprising bottom-line profits at time of sale. Others can suck your wallet dry without compensation. The definitive source for what 'To' and 'Not' to do will be a stellar Realtor. Don't depend on what you read, what a neighbor says or even what a contractor may suggest. The answers depend on what Buyers are expecting to see based on local market trends. You'll need current market data/knowledge of the immediate area your home is located.
Don't Set Unrealistic Sale Price Goals
Residential home values are based on what Buyers are willing to pay for a particular property at any given time. This amount can vary over time. It can be influenced by many things such as property condition, economic factors and supply/demand. Aggressive and intuitive marketing strategies can locate and secure the most willing Buyer (one willing to pay more than anyone else). However… The asking (listed) price should be based in two important principles. 1) The maximum amount a Buyer should be willing to pay. 2) The sale marketing strategy used to generate higher than market value offers. But never on emotional Seller wishes.
Do Remove Emotion From the Equation
A listed home is a commodity. A Buyer rarely appreciates nor cares about your 'history' as the home owner. What matters to them is how your home conforms to their needs, period. Your best decisions will be made when you are rationally minded. While it's true we want the Buyer to be emotionally attached to your home, you'll need to be emotionally detached. A helpful hint: Prior to listing remove/store memorable keepsakes, family photos and the like. For guidance in understanding what a Buyer perceives as positives or negatives when viewing your home do no more than ask us.