What NOT To Do When Selling Your House
When selling your house, you are told what you should do to sell it faster and for more money. Yet, the tips and tricks of what you shouldn’t do are often overlooked. We, the Lemmon Team at KW Realty, want to make the home selling process as transparent as possible for you. That is why we’ve compiled this list of the top tips and tricks of what not to do when selling your home.
Don’t Overprice Your House
Often, sellers want the most money possible, so they price their house high. They usually think that buyers will make a lower offer if they need too. But, this is uncommon in the buying world, and generally, a high priced house will get less interest. Less potential buyers will even consider the home. This leads to it being on the market for a longer period of time.
A house listed for too long can have a negative effect on it. Buyers will start thinking something is wrong with the property. Listen to your realtor and compare the home with other similar houses in the area to price your house.
Don’t Cut Corners On Listing Photos
With how nice cell phone pictures come out, sellers often opt to skip professional photos and attempt to take their own. Nonprofessional photos never perform as well though. The staging, lighting, and clarity of the home pictures never turn out as good. The photos are the potential buyers first, and sometimes only, impression on your home. Buyers will spend 60% of their time looking at your listing photos, so they are important. Having professional pictures done creates more interest and excitement from potential buyers. Professional photographers know what they are looking for. They will take full room shots as well as important detail shots.
Don’t Skip Marketing
Marketing used to be as simple as putting a sale sign up in the front yard, so it’s not always thought about. Yet, in today’s market, that is not enough. There are plenty of free and paid resources to help you market your house. Take advantage of online advertising. See what websites your realtor recommends listing on. Use social media to share your listing as well. Word-of-mouth marketing and having “For Sale” signs are still important marketing tactics. It is also important to host public open houses. The more people who see your house, the more likely you are to sell it. So get your listing out there and use as many resources as you can.
Don’t Ignore Repairs or Try to Hide Issues
Walkthrough your house imagining you’re seeing it for the first time. Often homeowners become accustomed to their home’s flaws. They don’t think about the little repairs they’ve been fine living with. But, potential buyers will notice these flaws right away. They will wonder if other things aren’t maintained. Often things you can’t see are bigger issues, so avoiding this thought process in buyers is the best case.
Complete those little projects you’ve been putting off for a quiet weekend, and get those little fixes in. If you can’t fix something, or afford to make a repair, it is better to be upfront with a buyer than to hide it. Often issues will come up in the home inspection, and if the buyer wasn’t aware of the issue, it can cost you the sale.
Don’t Overspend on The House
It is important to fix repairs, do minor upgrades, and stage the house before selling it. Still, there is a fine line of overspending. You need to put money into the house before selling. But too much money spent may not balance out with what your house gets appraised for. Consider the value of a repair before spending money on it. Will the repair raise the value of the house? Buyers often like to upgrade to their own tastes. So instead of upgrading, consider making fixes to get things working. Take your time to clean, and show that the house is cared for.
Don’t Show Up During Showings
When you’ve finally gotten your house on the market, the next process is dealing with showings. One of the most important rules of showings is to not be present. Your realtor is the expert and can handle showing the home by themselves. You being there may make buyers uncomfortable. This may cause them to not look around and leave earlier.
Buyers enjoy having the freedom to imagine themselves in the space. They want to look around, including in closets and storage spaces. They want to be able to make comments and discuss with one another about their likes, dislikes. Buyers also want to discuss their issues, if any, they have of the house. If you are there, buyers may not be comfortable with discussing the home. This could make you lose out on potential offers.
Don’t Ignore Your Realtor’s Advice
You are going through a professional for a reason, don’t ignore the advice your realtor gives you! A good realtor can help you price your home. They can also give you advice about staging, repairs, cleaning, and home curb appeal. Following their advice will pay off in the long run, so make sure to at least take what they say into consideration.
Also, don’t let your emotions and ego get in the way. Your realtor isn’t telling you to change your decor, declutter, or put away family photos because they don’t like them. They are simply treating the process as a business transaction and want to get the best offers for you. A house is a very personal item. Yet it is important to not get offended by suggestions from your realtor, or low offers. The act of selling a house is just business, so don’t take suggestions personally, and listen to all the advice given.
Don’t Overlook Extra Closing Costs
Finally, after the sale of the house, you will have to deal with closing costs. The average American will spend $18,342 in closing costs. Yet somehow they are overlooked by many sellers. Before deciding how to use the money you make from the sale, figure out the likely closing costs. Consider commission, attorney fees, and administrative costs that may come up in closing. These types of fees can be negotiated between the buyer and seller. So it’s important to think about them before the sale is finalized.
By following these tips and tricks of what not to do, your house selling process will go smoothly. You’ll know what to expect, and not get smacked with unexpected issues. Check out our blog “How to Prepare Your House for Sale” for tips on what you should do when selling your house. View our other blogs for more tips and tricks. Feel free to contact us, the Lemmon Team at KW Realty, with any questions, comments, or concerns you may have.