7 Deadly Sins of Selling Your Home
1. Don’t Overprice Your Home
“There’s a big reward for those who resist the urge to overprice. When contestants on The Price is Right guess the exact retail price of an item, they receive a bonus prize. And in real estate, sellers who price their house at the real, fair market tend not only to sell faster, but also to sell for 2 percent more than their home is worth.” ― Stan Humphries, Founder of Zillow, Zillow Talk: The New Rules of Real Estate
Basically, according to Zillow’s research over years of transactions, those that were fairly priced, or slightly under priced, actually sold faster and for more than those that were over priced.
2. Don’t Be There for the Home Showing
Whether you want to go grab a cup of coffee or an ice cream to treat yo' self, let the prospective buyers tour the home without you there. You don't want to seem pushy or cloud their judgement of the home.
3. Declutter and Stage Your Home
Appearance is everything and so are first impressions. You’ve got the buyer in your home, so make sure you don’t give them any reasons to leave. Your home should look the best it has ever looked. Keeping things minimal inside your house allows the buyer to envision what the space will look like as they'd like it, so limit your clutter to a minimum.
4. Don’t Be Emotional
When you’ve put ton of money into renovating your home or redoing your kitchen/bath/yard, it’s hard not to be emotionally attached. You put in blood, sweat and tears -- or paid someone else to. You remember what it was like before - and the amazing difference today. Buyer’s don’t have this same perspective.
Buyer's see what it is today - compared to price/features of other properties. So while the kitchen renovation may have cost you $20k, that doesn’t mean you can add $20k to the sales price to make up the difference. You have to objectively compare the condition and features of your house with others - just like buyers will, and price accordingly. A good agent should take all that into account and advise you on price.
5. Use Professional Photographers
It's simple. Professional Photos lead to more showings. Majority of home buyers are searching online for their next dream house and the major feature they have to look at is photos. Professional photos ensure that viewers will stop and pay attention to your listing. If you rely on iPhone photos that you took in a rush, your listing is probably going to get hidden amongst the other millions of listings online.
6. Hire an Experienced Agent
Selling a home can be tough which is why you need an agent who knows the process all the way through. This is why it's important to hire an experienced agent, but make sure you understand their commission wants before you list. Calculate their cost versus other agents before you agree. Agents who offer a lower fee will usually save you thousands of dollars compared to others who charge a 3%.
7. Leverage Modern Marketing Techniques
Did you know that listings on Zillow only access about 30% of consumer traffic? If you're wondering why your property isn't being snatched up, it could be because 70% of people looking for homes aren't seeing your listing. With new, tech-enabled real estate brokerages like SimpleShowing, your listing is not only posted on Zillow, but it's also blasted to over 50+ real estate sites as well as the MLS that ensure your listing is being shown to as much of the market as possible.
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