Selling your home may be a time consuming experience, from last minute showings to inconvenient calls, price reductions, and the possibility of paying two mortgages. If you are not prepared, you could end up losing hundreds or thousands of dollars. By using the knowledge of a qualified professional, you’ll ensure the quick, profitable sale of your home. The following will arm you with the knowledge to avoid common mistakes that cost sellers money.
Refusing to make profit-inducing repairs: It always costs more money to sell “as is” than it does to make repairs that will increase the value of your home and make it more marketable. Often, the minor improvements will yield as much as 3 to 5 times the repair cost. Small repairs can have a huge impact.
Not considering other financing terms: Cash is not always the most beneficial transaction. Income level, tax benefits and current legislation are all critical factors when considering purchase terms. Professional Loan Officers are experts at home transactions and can lead you down the path that will give you the highest yield.
Provide easy access for showings: Accessibility is a major key to profitability. Appointment-only showings are the most restrictive, while a lockbox is the least restrictive. However, there are certain considerations to take into account. Your lifestyle, time frame for the sale, and the relationship with your agent are all factors for this equation. The more accessible your home is for potential buyers to see, the better the odds are of finding a person to pay the price you’re asking for the home. You never know if the one that couldn’t get a viewing was the one that got away. By having a call that alerts you to an interested prospect, you will be able to provide a comfortable time to view the home.
Priced too low or priced too high: It is important to find the right professional to work with to ensure that your property is priced accordingly for a timely and profitable sale. If the property is priced too high, it will sit and develop the distinction of being a “problem property” in the marketplace. If it’s priced too low, it could cost you profits. The market has subtle nuances and market changes that should be re-evaluated by the professional that is marketing your home and communicated back to all interested potential buyers when important changes occur.
Relying solely on traditional methods to sell your home: The prospect today wants up-front information about the home they are considering purchasing since this is one of the most important purchases they will ever make in their life. As the seller, you should demand around-the-clock advertising, innovative lead generation, and lead accountability and follow up. These services exist and should be offered to you to assist you in selling your home.
Market timing vs. seasonal selling: Your professional will know if the market cycle is poised to net you the most money. Many people believe that property will always sell better in the spring than in the winter. Selling property to the right Realtor means selling with the right exposure and knowing current market trends.
Refusing to make cosmetic changes: The prospective home buyer’s first impression is the most important one. A large number of home sales have been lost to unkept lawns, cluttered rooms, bad stains, and unpleasant odors. These all seem to be rather small things to think about, but you have to imagine you’re the buyer looking at the home, from top to bottom.
Wasting time with an unqualified prospect: Be sure to align yourself with a loan consultant that will eliminate the possibility of negotiating with potential buyers who are not qualified to make the purchase. All potential buyers should be screened before valuable time is lost.
Don’t test the market: Never put your property on the line to sell unless you are serious. The right professional will find you buyers, and if you are harboring uncertainty, you will be the one who blows the sale.
Believing you are powerless to make a difference: Be a part of the team. Take an active role in doing what you can to facilitate the sale of your home. Networking with your peers and professional associates can often result in the sale of the home. It’s surprising how many homes are sold this way.
Believing all loan originators are the same: With all of the intricate detail and decisions involved in selling your home, should you rely on anyone but a top producing professional? Many friends and family members have been estranged as a result of failing to meet the expectations of the seller. Your home sale is too time consuming and difficult a task to trust to someone who is not trained in this area. Maximize your profits by using a professional consultant.
At Atlanta Housing Source, we want to be your source for real estate. If you are considering selling your home in Gwinnett, Cobb, North Fulton, or Forsyth, we want to speak with you to see if we are the people to help.
If you would like a FREE AUDIO on how to sell you home with tips and strategies that we recommend you do prior to putting your house on the market – just e-mail us at info@AtlantaHousingSource.com and put “FREE Audio” in the subject line and we will send you the link to listen to our recommendations.
Also, if you would like a personal home evaluation, we will be happy to meet with you in person to discuss your particular home.