Thinking about putting your property on the market? There is indeed a right and a wrong way to go about it – especially if you are looking to obtain the highest possible price for your most prized possession. In an effort to help you prepare, here is a list of seven mistakes to avoid when selling your home:
Not hiring a real estate agent
The commission that comes attached to the act of seeking the help of Mono realtors to assist in making a success of this undertaking can scare many sellers away. However, a reputable and knowledgeable realtor is sure to take the guesswork out of the process and will almost always sell your property faster than if you had approached the sale on your own.
Forgetting to take hidden costs into consideration
Agent’s commission is not the only cost associated with selling your home. You must also remember to factor in the various closing costs (up to 3% of the price of the property), home staging costs (some real estate agents offer this service for free – usually in the case of a sole mandate), home inspection fees, a down payment on your new home, moving costs, and seller concessions.
Setting an unrealistic asking price
Make sure that your asking price is competitive and accurate in terms of its value. Take into consideration the price of other homes in your area, as well as your agent’s valuation and advice, and make your decision from there.
Not embracing the power of digital marketing
Most prospective buyers find their new home via the internet. Therefore, be sure to utilize digital marketing whether you are working with a realtor or not. Advertising on dedicated property websites and via social media is an absolute must.
Putting your property on the market during winter
A cold home is hardly inviting, no matter how stunning and well-kept it is! Further to this, there are fewer buyers who are actively looking for a new property during the holiday season when they are busy with vacations and social engagements.
Not uploading enough photographs
Photographs play a key role in helping your listing stand out, so make sure that you have enough of them! Aim to upload a photograph for every room and to take a couple of your yard, too. Photographs of any notable selling points, such as solar panels, can also work in your favor.
Trying to conceal major problems
You are wasting your time trying to hide significant problems with the property, as these will almost always be uncovered during the buyer’s inspection. Instead, take the time to fix the issues before placing the property on the market or, alternatively, adjust your asking price below the market value to account for them. Keep in mind, however, that major problems will undoubtedly deter any buyers who are in search of a turnkey home.
Now that you know what not to do, you will be well-prepared to start your selling journey off on the right foot.