Selling a home can be difficult and emotionally draining especially for first time sellers. Strangers will be coming into your home, poking around your stuff, and looking for faults. Being prepared before listing your home will alleviate some of the stress from selling your home and make the process easier.
Being too emotional
It’s easy to let yourself get emotional about letting go of your home, a place that reflects who you are. Try to change your mindset and think of yourself as a business person conducting a transaction and not as a home owner. Look at the transaction from a financial aspect focusing on how much you can receive at the end of the process.
On the other side, remember how you felt when you were looking for your home and concentrate on what the buyers are feeling. Focusing on selling that image or dream for the buyer can help you overcome your own emotional ties to the property.
Selling without an Agent
Unless you have a lot of experience selling homes, not having an agent can be ill-advised. An experienced real estate agent will do the following for you:
· Provide a market analysis for your home and advise on a fair and reasonable listing price
· Act as the middle person between you and potential buyers weeding out the serious buyers from the window-shoppers.
· Will handle all negotiations potentially getting you more money in the process
· Will professionally handle any problems or issues that arise during the process
· Guide you through the mountains of paperwork explaining what each contract or form means and how it relates to your process
Agents can be expensive, asking up to 6% in commission but in the long run, you can have the potential to make more money on the sale than if you sold your home on your own. In addition, they can help to alleviate some of the stress associated with selling a home.
Not Preparing Your Home for Selling
It’s understandable that once you make a decision to sell your home, you want to put it on the market right away. However, take your time and prepare your home for selling. First impressions can increase the dollar value of your home making prepping one of the most important steps in the process.
Clean and Declutter
Too much clutter and personal items can distract buyers from picturing themselves in the home. Spend a little money to have professional cleaners come in and clean the house, including flooring and windows. Start packing up your personal items as soon as possible and soon the home will be decluttered.
Repair and Upgrade
Chipped paint, cracked walls or sinks, or water stains can be a red flag to buyers. Paint, repair holes or cracks, clean carpets or replace if needed.
Stage Your Home
Buyers like a home that is bright and airy. If you have dark drapes or curtains, open them up or replace with lighter colors. Remember smells are be a nuisance also. Be aware if you have pet smells in your home. Or yet, bake cookies before an open house or if you know buyers are coming over. As an added incentive, you can offer the cookies to the potential buyers also creating a warm, open atmosphere.
Not correctly evaluating all the offers made
In today’s market, most home sellers have multiple offers in a very short time a home is put on the market. If that’s the case and you have an experienced agent working with you, be sure to correctly evaluate each offer. It can be helpful to create a spreadsheet so you can see each component of the offers. Just remember the highest bid may not be the best offer submitted.
Even though you may follow all of these recommendations, there may still be glitches along the way. So prepare yourself emotionally and financially for any potential issues. However, being prepared ahead of time, can alleviate some of the stress of the home selling process and provide a profitable sale for you.
Let me know if you or anyone you know is interested in selling their home today!