Be Careful Not to Make These Home Selling Mistakes
Be Careful Not to Make These Home Selling Mistakes Here are seven home selling mistakes you should avoid. Your sale depends on it! Selling in the greater Houston area? Get a market analysis report Purchasing in the greater Houston area? Get full MLS access Today I’ll spell out seven of the most common home seller mistakes and how you can ensure your sale doesn’t suffer a similar fate: 1. Overpricing or underpricing your home. If you overprice your home by just 5% in a hot market, chances are it’ll sit unsold on the market for several months, and when your home sits, your pool of prospective buyers shrinks. And the results aren’t any better if you price too low: Your home might sell more quickly, but you’ll end up leaving thousands of dollars on the table. 2. Not properly preparing your home. According to Realtor.com, a well-staged and prepared home will sell 88% faster and for up to 10% more than its cluttered counterparts, as well as those that need renovating. 3. Limiting showings. Your willingness (or unwillingness) to accommodate buyers and their schedules will greatly affect the outcome of your sale. You must be ready to leave your property at a moment’s notice for a showing or even for a few hours while an open house is held. After all, a home that’s hard to show is a home that’s hard to sell. I’ve seen many a seller make the mistake of being inflexible. It’s not always fun, but you’d do well to work around buyers’ schedules. 4. Underestimating your selling costs. Aside from commission fees, expect to pay anywhere from 1% to 5% of your home’s purchase price for renovations, repairs, and closing costs. A good Realtor will go over each and every cost with you. “By the time your transaction is complete, you’ll have anywhere from 12 to 20 people to thank for helping you get there.” 5. Reviewing offers with a closed mind. If you receive multiple offers on your home, don’t automatically jump at the highest one. Not all offers and contractual terms are created equal. Beyond the price, consider certain terms of the offer such as the deposit and down payment amount as well as any contingencies. Each offer should be evaluated with an open mind. 6. Not understanding the selling process. By the time your transaction is complete, you’ll have anywhere from 12 to 20 people to thank for helping you get there. They include Realtors, inspectors, lenders, appraisers, escrow officers, notaries, and more. Developing an understanding beforehand of just how involved the selling process is will allow you to better anticipate potential surprises and prepare for the change of ownership. 7. Choosing the wrong Realtor. The right Realtor (I might know a good one) will run a market analysis on your home so that you price it correctly, do a walk-through with you to identify ways in which you can add value, and go over your net sheet with you so you’re not in the dark about costs you’re responsible for. The wrong Realtor won’t. As I always say, “To be unclear is to be unkind.” If you have any questions or you’re thinking about buying or selling a home, please feel free to reach out to me. I hope to hear from you soon! Written by Ruby Miranda on September 9, 2019. Posted in First Time Home Sellers, Sell Your Home, Seller Tips Trackback from your site. Leave a Reply
The 4 Things Every Seller Should Do to Prepare Their Home for Sale
The 4 Things Every Seller Should Do to Prepare Their Home for Sale Before you put your home on the market, there are four key steps you should follow. Selling in the greater Houston area? Get a market analysis report Purchasing in the greater Houston area? Get full MLS access You only get one chance to make a positive first impression on buyers, so when it comes time to sell your home, follow the steps on this to-do list to ensure your listing’s success. Objectively evaluate every room. Making sure your home is sparkling clean before you sell is a must, and to take things a step further, you may want to consider staging, as well. Avoid strong odors. Your home should be inviting in every sense. Strong odors, good or bad, are a fast way to turn buyers off of your property. Depersonalize your home. Buyers should be able to visualize themselves living in your property. Therefore, you’ll need to get rid of personal touches, like family photos and knick-knacks, before you list. Remove excess furniture. Overcrowded rooms not only make your listing seem smaller, but they can also make it difficult for buyers to maneuver through your home. When you go from living in a home to trying to sell it, your priorities should shift from functionality to aesthetics. With all of these steps in mind, sellers must realize that the way we live in a home is not the same as how we sell a home. When you live somewhere, you’ll arrange it for functionality. When you’re trying to sell a property, though, your priorities should shift to showing off its best assets. If you have any other questions, would like more information, or are curious about how we can help you sell your home, feel free to give us a call or send us an email. We look forward to hearing from you soon. Written by Ruby Miranda on October 31, 2018. Posted in First Time Home Sellers, Sell Your Home, Seller TipsTags: Ruby Miranda, Sell Your Home, Seller Tips Trackback from your site. Leave a Reply
Is It Really Worth It to Sell Your Home Without an Agent?
Is It Really Worth It to Sell Your Home Without an Agent? Thinking of selling your home on your own to dodge the cost of a real estate agent? These home sale facts will make you think twice about that. Looking to buy in the Greater Houston Area? Get a full MLS accessLooking to Sell in the Greater Houston Area? Get a free home market analysis If you’re thinking of selling your Houston home, there are five reasons you absolutely should not sell without a real estate agent: There are too many people to negotiate with: If you sell ‘For Sale by Owner’ (or FSBO), you’ll have to negotiate with a myriad of people on your own, including the buyer who wants the best deal possible, their agent, the home inspector (who works for the buyer), and the appraiser, especially if the home’s value comes into question. Exposure to potential buyers: Studies have shown that 89% of homebuyers look for homes online compared to just 20% who look at printed newspaper ads. Most agents already have an Internet marketing strategy in place to sell your home; simply putting your own house on Zillow doesn’t mean you know how to market a property online! 89% of homebuyers look for homes online compared to just 20% who look at printed newspaper ads. Selling FSBO online has become increasingly more difficult: The amount and intensity of paperwork involved with selling a home has increased dramatically as industry disclosures and regulations become mandatory. The is why—according to the National Association of Realtors—the number of people selling their home FSBO has dropped from 19% to an 20-year low of just 8%. You net more money when using an agent: Many sellers believe they’ll save the cost of a real estate agent’s commission by selling on their own, but fail to realize that people looking at FSBO homes are also people who believe they can save the cost of a commission. The buyer and the seller can’t both save the commission. Studies have shown that the median sales price for FSBO homes is $210,000 while the median home sold by an agent sells for $249,000. That doesn’t mean the agent can always get $39,000 more for your home, but that the people who sell FSBO are more likely to put themselves in a lower price point. If you have any questions about selling your home or about the market here in the greater Houston area, don’t hesitate to give me a call or send me an email soon. I’d love to help! Contact Us Written by Ruby Miranda on September 23, 2018. Posted in First Time Home Sellers, For Sale By Owner / FSBO, Market Snapshot, Sell Your Home, Seller TipsTags: First Time Seller, For Sale By Owner, For Sale By Owner / FSBO, Market Snapshot, Ruby Miranda, Sell Your Home, Seller Tips Trackback from your site. Leave a Reply
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