Let’s be honest, your home is your biggest investment and when you decide to sell it, you want to make sure you get the best price for it. When you are selling your home, there may be reasons why you aren’t getting the most for it. Let’s examine some of the reasons why you might not be getting the best return on your investment.
As much as most people don’t like to believe that a first impression isn’t always important, in selling your home it is. Most people will quickly judge a home by how it looks to them at first glance. One time, I went to an open house, and when I got there it was run by the homeowner themselves. They were in the kitchen cooking, one of their kids was in the room and the downstairs bathroom had water in the tub. The home may have been right for my needs, but the seller didn’t have the home staged properly. The key to staging a home properly is giving the home buyer a chance to see their personality in the home. If they are distracted by clutter, or the colors on the wall, or fixtures that are in need of repair, they are only seeing the huge amount of changes they would have to make. The potential buyer should only be thinking about the changes to furniture and how they want to dedicate the space to.
Curb appeal is another thing that people see right away. The outside of the home should be as manicured as much as possible. Make sure any patches in the lawn are taken care of, and shrubbery or trees are cut back and any cracking or fading on the paint is taken care of. No matter how nice the inside looks, if the outside isn’t taken care of, many buyers will move on quickly.
Selling at the Wrong Time
Obviously, the time you sell isn’t always under your control. But if you can sell it during the period you want, the best time to sell is early spring to late summer. More people are out looking and people want to be outdoors. The worst time to sell a home is in early December, when people are busy, distracted and trying to make it through the busy holiday season. People are shopping, but most likely not for homes.
As home prices are always something looked at as a negotiable thing, many first-time sellers tend to think they need to start high. For a home in demand, that may be the case, but for the most part, buyers have a price range they are looking at and your home may be automatically out of their range. Especially when compared to other similar homes, others may seem appealing just for the price. If you start too high, a buyer may look at a large reduction from the original price and wonder what is wrong if there are constant reductions.
Not working with an agent
It may seem like not having an agent can save you a bundle in the commission costs, but there are a whole myriad of problems you may run into when not working with one. Whether it is recommendations on the price to list the home at, to advice about inspections, to access to other agents and clients that are potential buyers, to even marketing the home to a wider range of people, the cost of an agent can save you in many other ways.
Getting the right price for your home will help you in the next phase of your life. Whether it is buying the home of your dreams, downsizing so you can retire, or helping you with costs to move to a new location, selling your home at the best price is key. Make sure you do all the things that will help you get the best possible price.