The 5 Mistakes to Avoid When Selling Your Home
1.) Overlooking Repairs - If you know your home is in need of a few repairs, especially if they are noticeable to you everyday, chances are potential buyers will also notice when they tour your home. This oversight will make it easier for buyers to offer less money for your home, if they don't write it off completely from the start. Consider a pre-inspection before you put your home on the market so you can address any repairs, if needed, in order to get the most money for your home.
2.) Overpricing - We all love our own homes and think they're worth a lot of money. Sometimes they are. However; the market doesn't always agree with us. Any good realtor should tell you that. The vast majority of qualified, motivated buyers come through your home in the first two weeks. If you price your home inappropriately in the beginning, you will miss these buyers. Also, if your house sits on the market for longer than average (which is likely when you start too high), then buyers start to ask themselves what is wrong with it, and this results in you getting less than market value for your home in the end. Your agent should provide you with a comparative market analysis as a guideline in selecting a price that is on target with the current market and will generate offers.
3.) Over-sharing with Your Buyers - We all love to talk about our home and how great it is. But the sale process is NOT the time to tell your buyers that the stain on the rug in the living room is from the dog the last time he was sick, or that the neighbor across the street likes to fix up cars and will help them out too. Any information, even good-hearted, that you disclose verbally on your own to your buyers, can be used against you, especially when it comes time for negotiations. You should make every effort NOT to be present during home showings or when your buyers are scheduled to be around the home. Let your agent be your liaison in the process, which in turn, will be less emotionally stressful for you.
4.) Poor Staging - A home that appears cluttered with too many pieces of furniture in one room, too many personal photos on the shelves, or a refrigerator full of magnets and children's artwork, makes it harder for potential buyers to picture themselves living in the home. A poorly staged home historically sells for less money, takes longer to sell and attracts demanding, relentless Buyers. Open and airy is the recipe for a quick sale.
5.) Attitude - The home sale process can be emotionally stressful at times. After all, your home is where you and/or your family members made memories. One important thing to remember is to remain open to suggestions made to you by your agent to help you sell the home fast and for the most money. Try not to let comments from prospective buyers get you down and keep you from making a deal. Always remember the reason why you want or need to sell the home.
If you are thinking about selling The Swain Team would welcome the opportunity to give you a free market update which tells you the value of your home. 215-757-7257 or TheSwainTeam@gmail.com
The 5 Mistakes to Avoid When Selling Your Home
How to Get Multiple Offers?
Every seller dreams about getting multiple offers when they sell. But how do you get multiple offers? It is simple you need to create demand for your home! Creating Demand can be done in multiple ways. For those sellers who don't want to put work into selling their home it is all about price. You need to sit down with your expert Realtor and analyze the comparable properties that have sold recently and the ones that are pending. Then know your bottom line.
Price the home dead on market value or even a little under market value. Advertise the home as coming soon for a few weeks. This will allow time for the property to be exposed to as many active buyers as possible. Advertising beforehand also creates demand for your home. Then you put it on the market and you will be able to get the most amount of people thru in the first two weeks (if it lasts that long! That all depends on price). The first two weeks on the market is when you will get the most buyers thru. The more buyers thru your front door the higher the probability is that you will receive multiple offers.
Take 31 Dolphin Road for instance, it sold in 3 days with multiple offers! The owner priced it aggressively at market value. We had multiple offers within three days. The homeowner was in the driver's seat. They were able to get the most for the home and chose the strongest buyers. Then when it came to repairs they were able to just repair what the township required. They did not get nickle and dimed after the home inspection was complete.
So there can be many perk to pricing aggressively. In the end, the owner ended up saving money by pricing aggressively because he got multiple offers and created a bidding war and was not nickel and dimed after the home inspection. Pricing aggressively also facilities a faster sale, less stress, and often less work. With any strategy it all comes down to you, the seller, and what you want.
There are all different marketing strategies for creating demand that we utilize. When it comes down to it you need to hire an expert Realtor who is a skilled marketer, not an average agent who sellers 4-6 homes a year. A skilled marketer can create demand. Your home is your largest asset, who you hire matters.
How to Save Money when you Sell
There are so many ways a seller can lose money when selling and it starts with not hiring the right expert realtor.
You need a Pitbull negotiator. Someone that is relentless. People don’t understand how important an aggressive negotiator is for the sale of your home.
When another agent accepts a lower commission they are not going to do much marketing and they are not a skilled negotiator.
If they can’t negotiate their own commission, why would you want them to negotiate your sales price?
You need someone to treat your money like it is their own.
We spend thousands on marketing to bring you the most amount of potential buyers as possible so you can yield the most money for your home. Hire an Expert Realtor with Experience. Beware of the average Realtor who lists 1-2 per year.
Thinking about selling your home. Contact us today for a preliminary listing appointment where we illustrate how you can get the most money for your home if you start in advance. (215) 757-7257 or TheSwainTeam@gmail.com