Assumptions You Just May Be Wrong About When Listing Your House for Sale
I have seen it time and again. People trusting an article slanted to benefit the author, relying on what others tell them and listening to uninformed opinions without doing any research themselves.
Today I want to bring to light some very important points that everyone who owns a home and will probably eventually sell at some point, need to consider.
#1 Listening to the advice of friends about which Realtor to hire.
Don’t be afraid to interview a few Realtors to find the right fit. It is well worth the time and effort. Driving through your neighborhood and picking a name off a sign or using someone on a friend of a friend recommendation alone is not the way to choose someone to sell your biggest asset.
What fits for your neighbor may not be a good fit for you. I have compiled a list of questions you should ask. It is available in the library at www.DIYHousetoHome.com here is a link to the article ~ you should always ask and consider these questions before you sign a contract with any Realtor.
#2 Believing the Realtor when they tell you ~ comps for this area are $ per square foot so your sales price should be $**.
Never set the asking price by “comps” alone. Always do due diligence and tour a number of comparable homes yourself. Price and square footage alone tells only a part of the story. Upgrades, condition of the house and how well it shows play a big part in the asking price.
Keep in mind that you must be reasonable and work with the Realtor you have chosen. Remember you want the most money from the sale and your Realtor must walk a tightrope of suggesting a price to be able to sell it quickly while appeasing you on the asking price.
#3 Accepting as true the recommendation that you must wipe every inch of personality from your home for it to sell.
Having staged many homes; occupied, unoccupied and even model homes I can tell you that a home with no personality is as hard to sell as one with way too much personality. Again, we have a fine line to walk. A buyer must be able to see themselves in your home.
It is true that a home filled to the brim with family pictures, collections of almost anything and overtly religious and political symbols should be reduced and in some cases removed entirely, but a house wiped clean of family pictures, interesting accessories and any sign of people living there is a cold and uninviting place and will be much harder to sell.
So keep a few personal items around but remember that people can’t buy what they can’t see ~ counter space, room to walk, clutter free closets to name a few.
Need help staging your own home ~ help is here.
#4 Getting advice from someone who has never sold their own home that you don’t need a Realtor to sell your home.
Selling your own home has become a bit easier with companies that assist you by consulting in the process for a flat fee without actually doing most of the work like staging, showings and legal filings. Times have changed and the old reliable newspaper ads have been replaced with ability to promote your house through social media channels and MLS bypassing the traditional forms of advertising.
But there is also a downside to the DIY process so careful consideration regarding the amount of time you will need to spend and effort that is needed before attempting to sell your own home. There are legal considerations and you may still need to hire outside help for professional photos, staging, appraisals and to pay the buyer’s representative a commission as well as safety considerations.
Do your research and cost assessment before committing to a DIY sale. Need a starting point here is an article I wrote a while back “7 Costly Mistakes of Selling Your Home Without a Realtor”.
#5 Thinking you will recoup the cost of any renovations and updates you do.
A new roof, heating and air conditioning units and water heater may make your home more appealing but you may not recoup the costs of replacement of these items. Having these staples in working order is important but if replacement is not necessary than opt for repairs in place of replacement.
Things like updated kitchen and bathrooms are a positive selling feature but always keep the cost of the update within the price range of the home. Super high-end finishes in a mid-price range home are never a good idea as far as ROI (return on investment). Before replacing carpet and flooring that is not in terrible condition consider an allowance allowing the new homeowner to select their own. Making décor selections that the new homeowner may not like may derail a sale with the homeowner preferring not to rip out new flooring to replace a choice you made with their own money.
#6 Assuming that you must have an open house or houses to sell your house.
This is one that you must discuss with your listing agent before signing the contract. Some sellers expect open houses but the truth is in many markets only a very small percentage of open houses ever sell homes and attract more neighbors than serious buyers.
With 90% of the home searches beginning online buyers are no longer roaming neighborhoods looking for houses. The ability to target neighborhoods and filter the results by endless options for square footage, number of bedrooms and baths as well as price, age of the home and lot size and then receive alerts when a home in your parameters becomes available saves time and energy for buyers and is more and more likely.
Also many listing agent do not attend the open houses opting for allowing newer agents to host them. More likely than selling your house is an oppertunity to find additional listings with buyers or sellers who may be in the market for a Realtor.
Well I hope that this has given you some things to think about and discuss with professionals who can give you straight answers to empower you on the sale of your home.