When preparing your home for sale, having all of your elements in order before you list is crucial for having the best experience possible. Failing to get everything in line could see a listing that sits for longer than expected, eventually closing for far less than the homeowner had hoped.
Avoiding the latter scenario means that steering clear of mistakes can be just as important as accomplishing everything else you need to get done. Here are some of the most frequent blunders to avoid when getting ready to have the best listing you can muster:
DON’T Do Anything Until You Meet with a Specialist
Selling your home is quite different than selling a piece of furniture on Craigslist. Dipping your toes into the market just could attract sharks that are eager to take advantage of your inexperience, especially in a white-hot market like Dallas/Ft. Worth real estate. You will also want to avoid common pitfalls to keep people from assuming your home is worth less than it actually is.
Your first step should be to get in touch with an expert real estate selling agent who can prepare you for the journey ahead. There are many, many steps involved in selling your home, and listing is actually one of the last. So before you jump the gun, make sure you have someone at your side with lots of experience in the market you are entering to start you on the proper path.
DON’T Set Your Heart on a Price Early On
A huge mistake people make when preparing their home for sale is that they see their friends or neighbors sell a similar home for a certain price, and they then assume that is the price they should expect. Realize, instead, that setting a home price is an extremely delicate procedure that involves hundreds of different factors. Even a home with an identical floor plan on a nearly-identical block could have a difference of thousands of dollars in the eventual closing price.
Your selling agent will use a complex formula to determine the best price to list at, which will include comparable properties, current market activity and any unique selling points your home could have, along with many other variables. The agent will also want to set a strategic price that could end up closing for quite a different amount than the initial listing. What is important is that the agent has done their research and that they have enough experience to skillfully price your home in a way that attracts the best buyers and the best closing offer possible.
DON’T Get Into Premature Agreements with a Buyer
Even if your best friend in the whole world wants to buy your house, you will have to tell them a resolute “maybe.” Many home sellers thwart weeks’ or even months’ worth of effort put in place by their agent by accepting a tenuous closing offer on practically a whim.
Realize that the best buyer for your home may not materialize until you already have several offers. Accepting an offer — or worse, accepting the vague promise of an offer — closes doors to some of the best opportunities that could come late into the equation.
Besides, agreeing to sell based on factors like prior relationships could make things awkward later on. What would happen if the person’s finances fell through? What if they tried to leverage your friendship to get themselves a better deal?
Solid business prowess should take precedent over all other factors when it comes to finding an ideal buyer. If your friend just so happens to make the cut, it should be because they recognized the value of your home and offered a fair price, not because your kids played soccer together.
We know these guidelines may seem harsh, but too many sellers get ahead of themselves and make mistakes that end up costing them a great deal of value for their home. Entrusting someone with deep knowledge of their field and familiarity with the local market is the best chance a homeowner has at walking away from a sale with a grin on their face. Have questions?–Don’t hesitate to give us a call. We believe customer service is #1 here at the Rhodes Team.
Get a free home value estimate and some advice on how to increase your sales appeal by filling out the form on the right and you’ll be paired up with one of our experienced real estate agents.