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Home Seller Mistakes To Avoid
Dated: August 13 2021
4 Mistakes That Plague First-Time Home Sellers and How to Avoid Making Them
Are you thinking about selling your home? If this is your first time going through the selling process, you may be wondering just how well things are going to go. Selling a home is usually a smooth process – there are thousands sold each day – but issues can arise if you're not careful. Let's explore four mistakes that are commonly made by first-time home sellers and how you can avoid them.
Trying To Sell Without Experienced Representation
The first and most significant mistake that some first-time sellers make is to try to go it alone. Selling a house is a major financial and legal transaction and one where experience is crucial in getting things right. Invest in an agent who has a track record for quick, efficient sales and you're going to have an advantage. In today's market, you may even get more than you think with multiple buyers bidding up the price. There is low inventory right now, so you want to get as many buyers through your home as you can. A real estate agent will be able to do this for you and you won't be leaving any money on the table.
Choosing Emotion Over Reason
Next, you'll want to avoid letting your emotions control how you react or respond during the selling process. Many homeowners become emotionally attached to their homes, which is fine while you're living there but it can be a problem when you are selling. It's important to let logic and reason guide the sale. Don't let yourself get caught up emotionally or you may make a critical mistake.
Pricing Outside Of A Realistic Range
Asking too much – or too little! – for your home is another common mistake made by first-time home sellers. It is critical to understand that the local real estate market has a lot of influence on the correct asking price for your home. Current listings and recent sales of similar homes in the area tend to set a price range in the minds of buyers, so these will need to be observed. Your real estate agent will be a big help in choosing the right sale price by showing you the local comparable properties that have recently sold.
Selling At The Wrong Time
The final mistake we'll cover today is listing your home for sale in the wrong environment. The local real estate market is in constant state of change due to a variety of factors. The seasons, other local home listings, interest rates, new home construction, local municipal zoning changes and all sorts of other factors can influence your sale. Unless you are under a time constraint, it's best to let your agent advise you when it's a good time to list your home.
Selling your first home can be a daunting experience, but with the right frame of mind and professional representation, it will go smoothly. To learn more about the home selling process or to list your home for sale, contact me today. I am happy to assist and answer any questions you have.
Helping families buy, sell and invest in Real Estate in Collingwood, Blue Mountains and Wasaga Beach. With over 25 years of business experience, I guarantee client satisfaction. Expert negotiation ski....