Selling your home is the end of one chapter and the start of a brand new one. It’s a monumental step that can often lead to great financial gain and set you up for success in your future real estate transactions. However, it is no small task, and to successfully sell your home you’ll need to prepare yourself with key information, targeted strategies, and forward-thinking to seamlessly traverse the complex real estate market. We’re covering some of the biggest pitfalls you should avoid and how to properly prepare for your selling journey so that you can triumphantly make it to the finish line—i.e. a lucrative closing.
If you want to make a pretty profit from your sale, you might feel the urge to overprice your home and hope that the right buyer will come along and purchase it for more than what it is worth. However, overpricing a home can actually cause it to sit on the market for longer, and oftentimes, the longer a home sits on the market, the less attention it receives from the pool of potential buyers. Price smart and sell quickly. Look at comparable sales in the area to get an accurate idea of what similar homes have sold for in your neighborhood recently.
You might be tempted to jump into listing your home and ignore repairs and upgrades and figure that the buyer can make those once they own the property. However, taking the extra time, effort, and forethought to anticipate issues a potential buyer may have with the property could lead to a smoother sale and a higher sales price. Take care of issues, like an old roof, dated finishes, and broken doors, before a buyer points them out. Oftentimes, problems that are easily fixable—and sometimes can even be achieved through DIY measures—will turn away a buyer.
As you tackle any interior issues, you’ll also want to consider the exterior. Curb appeal cannot be understated, as it is the very first impression buyers will have of your home. Simple measures like keeping the lawn mowed, garden landscaped, and front porch and driveway clean and free of clutter can go a long way in giving your home an appealing makeover. Consider painting the exterior as well if it needs a fresh coat as this can completely transform the way a buyer perceives a home. You want to communicate the home has been well cared for and is move-in ready for its next lucky owner.
Strategically staging a home will allow touring buyers to better picture themselves inhabiting the space, as they’ll be presented with a stylish design within the home instead of worn-down furniture and personal artifacts, which make it more difficult for them to imagine their future in the house. As buyers tour the home, they may provide feedback. Always receive any comments or criticisms from buyers as an opportunity to improve your home’s presentation for future potential buyers. It can be incredibly helpful to see your home through an outside party’s eyes.
In addition to creating a better experience during showings, staging will ensure your property looks its best when photos and videos are taken for marketing materials. Because many buyers will be searching online before ever making an in-person visit, you’ll want to hit them with eye-catching, professional imagery and compelling property descriptions to entice them to showings.
Reaching buyers through multiple channels, such as print and digital ads, a custom website, and social media platforms, ensures that your home is targeting a wide and diverse pool of buyers, increasing its chance of getting on the radar of interested parties. The more buyers you reach, the more power you’ll hold during negotiations and any potential bidding wars that occur.
In markets like the one we face today, where there is less activity and buyers are more inclined to wait for better conditions before making a purchase, it is especially important to take the initiative and anticipate what will make your property stand out to a discerning buyer. Fortunately, all these issues can be avoided and a savvy real estate agent will not only keep you from making these common mistakes but will set you on a path to success with their expertise and market knowledge. If you’re hoping to kick off the new year with a remarkable sale, please reach out. We can make the most out of the market together.