If we’ve said it once, we’ll say it again…the 2017 Housing Market is ON FIRE! Lots of buyers. Not enough houses. Homes selling in less than a day at the highest prices we’ve seen in years, and so on, and so on…You might be thinking that now is a great time to sell your house, and you’re right. However…don’t go into the home selling process blindly. Here are six things NOT to do when selling your house.
Unless you are a contract wiz who lives, eats and breathes real estate, you should never EVER try to sell your own home as a For Sale By Owner (FSBO). A realtor is trained to not only read and draft contracts, but he or she is also a master in the art of negotiation who wants you to walk away with the most money possible. The money that your realtor will make sure you retain / gain during the process of selling your home is more than the amount you think you’ll be saving by attempting to go it alone.
What have the houses in your neighborhood been selling for? What have the houses in your neighborhood been appraising for? What other houses are for sale in your area and what features do they have that your home may be competing with? These are just a few of the factors that go into pricing your home. FACT: A realtor knows that a home will only be sold at a price that its market can bear. He or she is an expert in the science behind pricing a home–can you say the same about yourself?
Oftentimes, people think that just by sticking a “For Sale” sign in the front yard that a home will sell, and will sell “as-is”. Unfortunately, it’s not that easy. A sign does advertise that your home is for sale. However, you’re getting the word out only to those who drive by your home and possibly anyone in their circle of friends that they happen to mention it to. A sign doesn’t clearly convey what is so amazing about your home nor does it advertise it to the proper audience, all of those folks who are looking for a home in YOUR neighborhood. That’s where a great realtor comes in — he or she knows how to market your home to the right people in a timely manner. At the same time, a realtor can objectively look at your home and make recommendations about improvements you can make to get your house sold faster and for more money. Having the eye of an objective professional, someone who is not as in love with your home as your are, is key to making it a home that potential buyers will fall in love with as well!
You might not want your home to sell too quickly, so you think that pricing it at a higher dollar amount will buy you some time…it won’t. The longer a home sits on the market, the worse it is–it won’t show up in the home searches of those who are actually looking to buy it. If folks see your home on Realtor.com listed at a price that they believe is out of their price range, you won’t even get them through the door to look at your home. List your home at an honest, fair price as suggested by your real estate professional right at the start–it will generate interest in your home and get those buyers to schedule that showing!
Again, pricing is key. Potential buyers are searching within a price range, say $450,500. If you price your home at $450,550, you’ve put yourself out of their search perimeters! Trust your realtor to know what price point your home should be listed it.
You’ve made memories in your home, made changes and improvements along the way. Your home is a very personal thing to you. The sale of it, however, is a business transaction and should be approached as such. If someone submits an offer below your asking price, don’t take it personally! Just as you are trying to make the most money on the sale of your home, they are trying to make a large financial purchase for the least amount possible. It is strictly a business transaction, period. Let your realtor, who is in the business of selling your home, do what he or she does best!
With over thirty years of real estate experience, The Jean Gross Team is Chester County’s realtor of choice. If you’re thinking of selling your home, give our office a call to learn more about The Jean Gross Difference!
The data relating to real estate for sale on this web site comes in part from the BrightMLS. Real estate listings held by brokerage firms other than Keller Williams - Exton are marked with the IDX logo and detailed information about them includes the name of the listing brokers.
All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor Keller Williams - Exton shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.