Do you think the time to sell your home has come? Perhaps, you have procrastinated enough and should start working on the process. After all, selling a home is a tedious and sentimental task. And, much of the frustration and anxiety comes from the possibility of your house getting sold for a sub-par price.
Despite the struggles natural to the process of selling a home, no one would ordinarily want to incur losses. To prevent anything like that from happening, you must avoid certain mistakes. Your aim should be to sell your house and maximize profits.
Follow these five tips for the best results.
- Think like a salesperson, not a homeowner
It is the first tip any real estate expert would give, especially to first-time home sellers. You must watch out for emotional overdrives because, understandably enough, it is your home. You spent years in that home and are now closing in on time when you must leave it behind. As a result, you may end up making impulsive decisions.
Prioritize financial benefit. And, for that, you’ll have to trust a salesperson. You’ll come across many potential buyers who’d estimate a lower value or complain about certain fixtures or designs in the house. Remember, these people are playing their part. If you let your emotions run wild, you’ll react.
- Estimate a practical price
We tend to overvalue what we have because of personal association. But that doesn’t mean everyone else should. You have to sell your home and want to maximize profits, fair enough. But you can’t do it if you keep a price tag on it; that is way over and above the practical value the house can actually fetch.
What you can do is keep a moderate price that is not too low and has room for negotiation. Overpricing doesn’t do well as it significantly affects buyers’ interests because there’s only so much they can negotiate. Thus, always conduct a comparative market analysis to determine a fair offering price.
- Take professional help
Hiring a real estate agent means money coming out of your pocket. But professional help can compensate you with the best possible deals for your property. These agents know what the buyer and the seller want. They will ensure an acceptable market analysis, conduct expert negotiation, and undertake paperwork on your behalf.
As I wrote earlier, selling a home is challenging and can irritate you. You have to talk to several people regularly, conduct negotiations, carry out paperwork that doesn’t seem to end, and handle the tantrums of the uncooperative buyers. Let real estate agents take care of these while you wait for your profits to rise.
- Create a good portfolio of pictures
You must be living in a forest if you don’t know how much people prefer looking for homes online. The virtual universe is where most of us start our hunt for properties. This means you have to give them what they want and you must give them that really good!
Wherever you decide to list your home for sale, you must upload a well-curated portfolio of visuals. Every nook and corner of the home should be captured in high-quality pictures and videos.
If you haven’t moved out of your home, make sure you clean up the mess and click pictures of a tidy house. My experience shows sellers do not post enough pictures of bathrooms and the neighborhood. Take wide-angle and small-angle shots as well as a 360 degrees view to enhance your listing.
- Disclose problems
Many people think that disclosing problems in the property is a bad call. No, it is not. Firstly, remember, when you enter into a contract, you must make all material information regarding the consideration, which in this case is the house, that could affect the decision of the other party. You can get sued if you don’t.
Secondly, most buyers demand inspection. You should either get problems fixed beforehand or inform them during the inspection. Failure to make such disclosures could result in costly legal battles with the buyer in the future.
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