6 home selling strategies to avoid losing money when you sell your home
There are a lot of things to do when preparing to sell your home. However, these six common mistakes are often made by sellers. Avoid these things and you will be ahead.
Avoid putting the home on the market before its ready
This often happens when the seller gets impatient or procrastinates and gets himself up against a moving deadline. When this happens, the home hits the market without being touched up, uncluttered, staged, and is not up to its full potential. Remember, a house on the market looks nothing like a house that is not. And you only have minutes to make a great first impression. Marketing a home is just like anything else in the sense that presentation is everything, so it is vital to get this work done before marketing the property.
Avoid taking your own photos
Professional home photography is a must have. This includes drone photography when appropriate. We know how important first impressions are, which is why we invest our money to ensure your home stands out online.
Avoid hiring an agent based on non-business factors
Make sure you are hiring a professional with a proven track record that specializes in your market. It might be nice to hand your largest asset over to your brother's daughter or a co-worker who just got his license, or a friend who does real estate part time to do them a "favor" because you feel obligated. Your home shouldn't be something a relative or friend can practice on.
Avoid pricing the home on what you want to net
This is a pricing strategy that fails more often than not. A seller can control the asking price, but not the sales price. The only thing a seller controls is price and condition. The sales price is determined by the reality of the market at the current moment. If a seller feels they must have a certain price that the market will not bear at the time, it would be wise to wait until the market improves to their price point. With that said, if your home is in tip-top condition, it will most likely net you more than if it wasn't.
Avoid getting emotionally involved in the sale of the home
This is a tough challenge most home owner face. Once you decide to sell your home, it is no longer a home, but a commodity and needs to be prepared as such. A seller has to understand that memories and sentimental value does not translate to market value. Buyers are going to come into the home and decide what they like and don't like, and a seller can not get offended or upset by the buyer’s opinion. When emotion comes into play, sellers usually lose money.