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Real estate has been a challenging market since the bubble burst in ‘08. Buyers are looking for credit while sellers need a better price. It’s a market on life-support. Now it seems things are improving slowly but surely. As the market gains momentum, you may be thinking about selling your house quickly. If you’re halfway through the front door ready to put up the for-sale sign on your front yard, here are five mistakes you should definitely avoid.
- Asking for too much
Of course you know what you paid for your house, but chances are that was a long time ago and the market has shifted since then. It’s not necessary the house is worth the same amount or even appreciated since then. Remember that the house is only worth what the market is willing to pay for it. Your property could be sitting around for months or even years on the market if you price it too high. On the other hand, you could be leaving money on the table if you sell too low. Find the right balance before you list.
- Skipping marketing
Taking a photo and putting up a sign outside would have worked if you lived in a small town with hundred people. But if you live anywhere else, you need marketing to get your house sold. Postcards, public viewings, social media marketing, and even Google ads can go a long way towards finding the right buyer.
- Doing it yourself
Pulling off a sale all by yourself is only possible if you have tons of experience and know the market like a professional. It’s not easy selling a property and you’ll probably need some help if you’re going to get the right price for your house. Also, depending on the state you live in you may have to take on some liability if you’re trying to sell the house on your own. Getting a lawyer or expert involved is the best move if this is your first rodeo.
- Neglecting repairs
Any buyer who walks into the house and sees a broken part will wonder what else is hidden beneath the surface. A shabby house in disrepair is not going to get its full value. Take the time to fix everything you can. From the biggest repairs to the smallest essentials, get it all fixed before anyone walks in for the first time looking to buy.
- Getting emotional
You obviously have an emotional connection to the house, especially if you’ve lived there for decades. But if you’ve decided to sell, it’s best to get emotionally disconnected as soon as possible. Think of it as a business decision if you really want to shine during the negotiations. If you’re too emotional, you risk messing up the deal and getting less than your deserve. The best way to disconnect and see your house from a new perspective is to repaint it.
Selling a house never gets easy. There’s simply too many factors involved. But if you can avoid these five simple mistakes, you’ll get your house sold quickly and for the best possible price.
