THE 5 BIGGEST MISTAKES HOMEOWNERS MAKE WHEN SELLING THEIR HOME AND
HOW TO AVOID THEM!
Are you thinking about selling your home and don’t know where to begin? This Free Report will give you some great insights as to how to avoid the costly and timely mistakes that can happen during the process. It may look easy to the outsider who watches an agent place a For Sale sign in his neighbor’s yard and then a day later a Sold sign appears, but actually just getting to that point involved a detail plan where many different professions were involved. If selling a home is something you have never done, you may not be aware of the time and effort that is spent in just the preparation to sell. Finding the right Realtor is your first crucial step. She will lead the way to coordinate working with Lenders, Title companies, Inspectors, appraisers, stagers and photographers and many times, contractors to make repairs. All these people will be working hand in hand to expedite a successful sale for you. So read on and find out how to avoid mistakes and get the most money for your home with the least amount of hassle!
- OVERPRICING- I am listing this as a number 1 mistake because it is the most common one and the one that will cost you the most time and money. Everyone wants to get the most money they can for their home, right? And it is easier than you think if you trust the advice of an excellent Realtor who has provided comprehensive data showing you a range in which your home will sell. The Comparative Market Analysis is your blueprint to follow with regards to homes for sale, under contract and sold in your area. The CMA provides not only statistical data but pictures, tax information and the history of previous sales so you will have a real good feel for the right price. If you ever sold a home that started out overpriced you will remember, the days and months lost trying to find a buyer, the continued mortgage payments, the additional interest you paid on your loan, as well as the taxes, maintenance and utilities. Buyers always purchase the best properties first and ones that are priced correctly. A home in great condition and in a great location will consistently sell for the most money. Price it right out of the shoot and you will sell FAST and for the most money!
- NOT PREPARING YOUR HOME TO SELL- Would you buy a car that was filthy, had bald tires, a rusted frame and tons of mileage for the price of a new one? No! Well the same applies for buying a home. So don’t make the mistake of taking for granted a buyer will buy anything for more than it is worth just because you are in the hottest market ever. Do this instead- Declutter and Eliminate things you no longer want and need. If you have not used it for more than 2 years, you probably never will. (This does not include Grandmas’ heirlooms). Update if possible and if necessary. Clean and/or replace carpets, paint interior and exterior if needed. Just making your home fresh, clean and inviting can attract the right buyer and bring you more money. Be sure to consult with your Realtor before doing extensive remodeling and updating to make sure the current market will bear the expense.
- NOT HAVING YOUR HOME PROFESSIONALLY STAGED- Staging is extremely important to showcase the beauty and unique features of your home. Staging simply means having a professional stager strategically place furniture and décor making a difference in how your home is presented to the buying public. If you ever visited a builder’s model home you probably remember the beautiful way it was decorated. Staging is quite similar, only this time we use your furniture and decor to create a more appealing overall look. Buyers want to see the permanent features of your home such as granite counter tops, fireplace design, flooring and size and colors of rooms, not all your personal stuff, so eliminating those things will be important. When I talk about personal stuff, I mean personal and family photos, posters, awards, religious decor and general clutter. If you have good “stuff” (trendy furniture and decor) the stager will use these items to create an inviting ambiance and help your prospective Buyer visualize what their home could look like after you leave. Another even more important reason to stage your home is it will get you more money. Statistics show that a staged home will sell for 17% more money on the average than a non-staged home and 95% of staged homes sell in 11 days or less over a non- staged home….two really awesome reasons why you need to take time to get your home professionally staged! A great agent will have a Pro Stager on staff to facilitate this for you.
- NOT USING HIGH DEFINITION PROFESSIONAL PHOTOGRAPHS- Another extremely important element to getting your home sold quickly and for the most amount of money is having fabulous photos. Remember the old saying “A picture is worth a thousand words”? Well that saying is even truer today than it was years ago because 95% of Buyers shop online. The Buyer of today wants instant gratification in their search for homes. They want to see every detailed feature of the inside and outside of a home in full color and in the comfort of their jammies in front of the home computer. Take note however, that Staging and Photos work hand in hand to accomplish the goal of presenting your home and making it look its best! You cannot have one without the other. By doing these two important things, your home will be dressed for the party and dazzle the first Buyer who views your home!
- SELLING YOUR HOME ON YOUR OWN-Some folks just think they are wiser than a great Realtor and admittedly some have successfully sold their home by owner. However, only 15% of by owner Sellers successfully sell their home. The other 85% of folks who tried but did not succeed listed with an agent and happily received the same amount of money or more in the end….with a lot less worry and headaches. Here are some additional key questions to ask before you take the leap down the sell by owner road.
- Can you handle negotiations with the buyer with regards to price, inspections and appraisal?
- Can you handle the legalities of the contract? Who will prepare it correctly for you to protect your interests?
- Will you be giving a full disclosure of everything you know about your property in a detailed manner to protect you from a law suit?
- How will you advertise your home? – It takes more than just Zillow to sell your home. Ask people who advertised there and why they did not successfully sell their homes. Marketing and advertising has a specific plan of action that needs to be expedited every day to attract Buyers. Great Realtors use different modes of advertising and marketing to attract a broader buyer pool.
- Who will stage and do professional photos of your home? On that subject, I agree that cell phones take great pictures but not the best pictures when it comes to presenting your home in the best possible way. You probably would not take pictures of your daughter’s precious wedding with a cell phone…right? Read Mistake #4 to get more info on that.
- HIRING THE WRONG REALTOR- Sometimes folks casually hire a friend, relative or neighbor to sell their home because they think it is an easy process. It is wonderful to work with friends, relatives and neighbors but realize your home is most likely your greatest asset and this is your money. Selling your home to a qualified Buyer becomes a legal and binding contract between You and the Buyer. Therefore, the transaction must be treated with great knowledge, care and skill to protect your interests. So in order to make sure this person is the best Realtor to sell your home, ask these pertinent questions.
- How many transactions have you done this past year? If the Realtor is a newbie and you want to help them get started that is great, but make sure they have an experienced mentor or Broker behind them, guiding them every step of the way.
- Will you provide a professional Comparative Market Analysis designed specifically for my property? This data should give you an accurate listing price, days on market as well as homes that are active, pending and sold in the last year using comparable properties in your neighborhood. Don’t rely on an offhanded price verbally given based on just an opinion. A professional Realtor gives you credible facts.
- What kind of advertising do you do? A comprehensive marketing/advertising strategy is specific as to what they will be doing to advertise your home. The marketing/advertising strategy should also include professional photos and a staging plan.
- Can you give me advice on how to prepare my home to sell? Can you provide an available list of vendors and subcontractors that I can reach out to for help if I need repairs or replacement of certain components of my home? An experienced Realtor has many people they affiliate with in the housing industry to call on when needed. Inspectors, handymen, electricians, plumbers, pest control companies and the list goes on, for almost everything you would need.
- What paperwork will be required and can you explain its purpose? At times, we see nightmare situations where the listing contracts were not filled out or explained correctly and the homeowner has no idea what they have signed. Not an immediate problem until later when a situation arises that needs to have the paperwork reviewed to address what went wrong and what legalities are necessary to fix it. This is why I believe explanation of contracts and filling them out properly is so important. If this happens on the other end, be assured on our end, that as an experienced Realtor we can most always access the people needed to help clean up a transaction before it gets legally messy!
THANK YOU for taking the time to read this Free Report. It was designed to give you a quick and accurate reference to information you would need to know about the home selling process and things to avoid before making some serious decisions.
If you’re thinking about selling your home now or in the near future please reach out to us at 816-600-7355 OR visit us on the web at www.CyndaSells.com!
Cynda Sells Realty Group LLC
211 NW Executive Way Suite J
Lee’s Summit, MO 64063