Here are Important Things for Homesellers to Steer Clear of
It’s a seller’s market but for homesellers, that doesn’t mean anything goes. You still need to take the time to prepare and market your house. Before you begin your house selling journey, take a look at these 7 mistakes you need to avoid:
Just because you believe your home is the best on the block, it doesn’t mean you can command a high price. You must consider what the market will support and not let your emotions dictate your price. That’s why buyers care about, they want to pay fair market value. In addition to not selling your overpriced property, the odds are stacked against you that it will sell for what it should when priced properly from the beginning. Remember, you’re putting your house on the market to sell it.
2. Selling your home solo
If you want to get the most return on your investment, experts suggest you work with an agent. Even though selling without an agent will avoid commission fees, it will cost you in the end. I’ve blogged about this topic before including this one, “What You Really Need to Know To Find a Real Estate Agent.” There’s a reason why nearly 90% of sellers use a listing agent. Selling a home takes time, knowledge and negotiating skills. So, while eliminating the agent’s commission might sound appealing (an average is 6% of the sale price), try to resist. I can’t stress enough how important it is to find the right agent. My customers get to take advantage of my successful marketing strategy and I hold their hands every step of the way.
3. Withholding disclosure issues
Disclosure laws vary from state to state. When it comes to California, real estate disclosures require residential property sellers to report, in writing, details about the property for sale. Our disclosure requirements are very strict and thorough.
4. Listing without getting your property sell-ready
I’ve seen potential buyers cringe at cluttered, outdated, smelly or dirty homes. Make sure you follow my advice: “Don’t Sabotage Yourself When Selling Your Home.” In that blog, I share 9 seemingly trivial things homesellers should avoid: from cords hanging from mounted TVs to a dingy front door. Even overstuffed closets or cluttered counter tops can make a big difference to potential buyers. You might even want to up the ante and have your home professionally staged to sell.
5. Choosing not to update
Unless you’re selling your house as-is for a fixer-upper, must-do updates include: repaint using neutral colors, replace light fixtures, change to updated cabinet hardware, get rid of obsolete decor, clean the carpet or, better yet, replacing it. Then there’s curb appeal, you must not forget that one. Before you tackle any big updates, weigh the cost of the proposed improvements against the home’s value. Remember, homesellers only have one chance to make a good first impression!
6. Rushing through offers
As I stated before, it is a seller’s market which means many people get multiple offers on their home these days. You might think the highest offer is the best when in reality, there are many factors to consider before choosing the best offer. Another thing to think about is the strength of the buyer’s financials. The bottom line: take time to carefully consider all offers and seek the opinion of your Realtor®. Plus, I always recommend my homesellers keep a couple backup offers just in case a buyer falls through.
I hope this list of 6 things to consider when you’re a homeseller helps make the process a little easier. If you’re looking to sell a home in Montecito, Hope Ranch or any of Santa Barbara’s upscale communities, please call at +1-805-886-9378 or email me at Cristal@montecito-estate.com. I’ll happily add your listing to my portfolio of fine homes in the area and find your new dream home simultaneously!