Once you decide you want to put your home on the market, it is very normal for you to feel excited, a bit nervous and an overwhelming sense of just wanting to “get it done” and to get onto the next chapter in your life. The pitfall here to look out for is wanting so much to get your home sold, as quickly as possible that you make mistakes.
Today we wanted to share a few pitfalls to avoid, to ensure that you sell your home as quickly as possible, for the highest possible price, making you happy and getting you to the next stage in life you have planned.
1) DO NOT HIRE THE WRONG REALTOR®
Law of averages says most homeowners interview at least 3 Realtors® before they decide the one they want to hire to represent them in the sale of their home. Remember, this is one of THE MOST IMPORTANT transactions you will ever undertake in your life. You can’t leave this to chance. Do your due diligence:
1) Interview enough Realtors® that you feel comfortable with your choice.
2) Make sure you have the right questions: Ask for referrals, make sure they are experienced in selling homes in your marketplace, and above all, don’t fall for tricks. Some agents will suggest a very high list price, simply for the sake of getting your listing. Don’t fall for that. Make them show you comparable sales data to back up their thoughts on the price your home should list for.
3) At the end of the day, you have to go with your gut. Choose the agent that you feel good being around and that you truly believe in (even if they aren’t the agent that claims to be “Area Expert”).
2) Remember- “The Market” is a living thing that changes constantly
Every market changes as the year progresses, the economy changes and buyer demand changes. You CANNOT ignore what the market is doing. If you decide that your home is worth a particular price and are not willing to listen to your Realtor® and their pricing suggestions, this means your home is likely to sit on the market for an extended period of time, or even worse, not sell at all.
Remember this: The market is a two way street. If the market is down and you don’t get the exact price you wanted for your home, the plus side to this is that there is always the opportunity for your to buy your next home at a lower price a well, thus somewhat equalizing the issue.
3) Don’t “cover up” problems with your home
Above all else, be forthright and honest when selling your home. If you have had your cracked foundation fixed, or have had a fire or flood, you need to disclose this to potential buyers so they can check it out and make sure you took care of everything and that they are comfortable with proceeding with an offer.
If you decide not to disclose this information and opt instead to try to hide it, in the event you get caught, it will most likely guarantee the possibility of litigation. Facing legal problems is not only stressful, BUT it will also delay you selling your home and getting on to the next stage of your life.
The Moral Of The Story: Just Do Things The Right Way
Do things right from the beginning and you'll have a smoother, easier, and more profitable transaction.
