MUST READ - 5 Common Costly Mistakes When Selling Your Home - And How to Avoid Them

Putting your house on the market is no easy feat. This is not a typical sales transaction and may be the largest asset you will ever sell. This is your home, a place full of memories and emotional ties, so it’s not surprising that many new sellers experience stress and anxiety when approaching this process.

This article was written to better assist and educate you on what to avoid in order to successfully sell your home - quickly.

SELLING BY OWNER: We can all relate to the idea of wanting to sell your home yourself in order to avoid closing costs. However, selling by yourself will take a longer amount of time and more of your energy than you would expect - think hiring the right photographer, showing the property, educating yourself on contracts and more. Plus, if you hire the right agent they will come with a marketing powerhouse in order to get your listing in front of the right buyers within a good time-frame. Negotiating alone could result in the loss of a sale! Hiring the right agent should result in higher profits that will not only cover the commission, but will also increase your earnings.

Not convinced? Here is more statistical evidence on why selling by owner may not be the right choice for you.

SELECTING THE WRONG AGENT FOR YOUR LISTING: Now that we have covered selling by owner may be more than you’d like to handle, we need to focus on how to find the right agent for the job. The Miami market is saturated with real estate agents. In fact, I am confident that you can probably name a few of your friends or colleagues with a realtor’s license. But listing with a friend may not be the best idea just because it is turn-key. You need to do research on which agents know the market in which your home resides. Make sure they know and understand the in and outs of your neighborhood - schools, transportation and more. They should be able to provide you with guidance on comparable properties in your area and have the marketing resources to ensure it sells at the right price. Look for positive reviews and testimonials, and feel free to ask them for a reference. Also research how they are marketing their current listings, do you feel that you can see your home where they are investing efforts?

LISTING YOUR HOME AT THE WRONG PRICE: Location, size, improvements to the home, etc. will all be considered when setting the price for your home. However, often times owners set their price with an emotional markup. We all may think the value of our home is more than the market shows due to our own nostalgia- however buyers will not have the same sentiments. Do you research - look into homes of the same size and structure that have recently sold. Or, as mentioned above, if you hire the right agent for the job, they should come prepared with a thorough market analysis to price your home right. I emphasize “right agent” because beware of those agents looking to sell your home quickly by undermining you on the price, or by telling you a price point so high in order to win your business. The right agent should find a price point that you are both comfortable with.

IGNORING TOUCH UPS: Overlooking simple upgrades is a HUGE mistake because new buyers will notice even the smallest of things. Throw some fresh paint on the walls, invest in some gardening outside, fix broken tiles or floor boards. You may even be surprised at how good the home will look once these small improvements are made. Also, be sure to clear your home of family photos or paintings. Everything is subjective and you want a potential buyer to be able to see themselves in that home. And for goodness sake make sure the home smells good! There is nothing that can immediately turn someone off to a place than a fowl odor. Scented plug ins are easy to buy and can transform the home immediately.

DISCLOSING YOUR DISCLOSURES: One of the more expensive mistakes on this list is when sellers are not upfront about their homes issues. Buyers will find out, and when they do this will be a costly mistake. It’s better to be transparent on any disclosures you have on the home in order to avoid having to compromise the sale price. Let the buyers know before that the homes issues were taken into account when setting the price. Do not give them this negotiating chip.

Have more questions about selling your home? Feel free to reach out to me at any time at 305.582.7917 or email me at vanessa@vanessamaggiteam.com.