Selling a house is an enormous financial operation requiring a complicated and lengthy process. As a result, there are plenty of ways to go wrong with things and make expensive mistakes for sellers. Nevertheless, it doesn’t have to be like that. With some preparation and experience, together with a good measure of objectivity, it is possible to avoid most of the mistakes made by home sellers. With that in mind, we want to make you aware that the top 4 home sellers make mistakes in Eagle Idaho, so you can avoid them.
1. Not Pricing for a Sale
Nevertheless, it doesn’t have to be like that. With some preparation and experience, together with a good measure of objectivity, it is possible to avoid most of the mistakes made by home sellers. With that in mind, we want to make you aware that the top 4 home sellers make mistakes in Eagle Idaho, so you can avoid them. Sellers must find the “sweet spot” pricing between putting too much money on the table and risking no sale at all. Their selling guide should be the fair market value, “which applies to how a home is priced when both buyer and seller are fairly familiar with the property and there is no pressure to sell.”
Fair market value is typically achieved through a comparative market analysis, which is primarily based on homes with similar sizes and features that have sold near you. The problem is that no two camps are the same in order to be reliable, you would have to account for every discrepancy between home apps. This is often called making changes, and being done manually is incredibly hard.
This is why most buyers need the services of a trained local real estate agent who knows local markets. Call to learn more about how an agent will help you sell the value.
2. Underestimating Selling Costs
Another of the errors that home sellers make in Eagle Idaho does not take into consideration or underestimate the selling costs. Not all money is in your pocket for selling a home – there are some significant costs involved.
For example, the “total cost of selling a home can be much higher than the 5-6 percent that most people expect to pay in agent commissions. If you account to the buyer for closing costs, renovations, and other compromises, the sales costs may be closer to 10% of the selling price.” Therefore, if you move to your new home before selling your old one, you may have to pay on two mortgages at the same time. Or if you sell your home sooner than you planned, you might have to rent a place to live before you purchase your new home.
Therefore, to keep the sales costs as low as possible, meet with your local agent to determine the best way to sell for your specific circumstances. Your broker can also assist you in securing a better selling rate to help offset selling costs.
3. Failing to Prepare
A common mistake made by home sellers in Eagle Idaho is that they fail to properly plan their home for sale, which can have a dramatic impact on the sale price. The goal is to make your home as attractive as possible for buyers, which means mainly decluttering, cleaning, painting, making at least minor repairs, and staging. Most sellers are either too busy or wait too long to ready their home for a good job. But they’re not supposed to.
“The cleaner, less cluttered, and more well-decorated your home is, the more appeal it can have, according to experts in the real estate industry. Clutter will make your home look smaller and make it harder for buyers to see how they live in your home. In reality, staged homes are selling 88% faster and 20% faster than those not staged.
In this regard, a major mistake frequently made by sellers is to focus on the inside of the home and ignore the outside. Yet curb appeal is tremendously important as it creates the first critical impression that makes customers want to see more.
4. Making Poor Agent Selection
In Eagle Idaho, a mistake is made by sellers that can sometimes be catastrophic by choosing the wrong agent – one who is simply not good enough or who does not understand the local market or who does not try out their best interests. Before selecting an agent, be sure to “check their licensing and credentials, talk to past clients, and ensure that they have plenty of selling experience in your area and price point.”
Some of the important considerations include:
- Marketing plan
- Negotiation expertise
- Willingness to communicate
- Competing current listings