How to Sell Your Home at the Highest Possible Price by Mike Andrews,Guest Atuhor
Everyone wants to sell their home for the highest possible price. In order to accomplish that you need to make sure that you avoid common mistakes that many home sellers make! Small mistakes can cost you hundreds or even thousands of dollars. It’s not difficult to avoid making these mistakes. Just follow the simple guidelines in this article and you should be able to get top value for your house when you sell.
For Sale By Owner: Most homeowners who choose to sell their home themselves do so because they think they can save the commission paid to the real estate agent. The amount of time and effort required to sell a home often surprises the DIY Seller. And, importantly, many costly mistakes can be avoided with the right guidance.
Know the Current Market: Most homes that don’t sell in the first 30 days after being listed are priced too high. On the other hand homes that sell too quickly might have been priced too low and robbed the homeowner out of additional profits. You need to understand your market and evaluate the value of your home based on fact, not gut instinct or the opinion of your in-laws. A professional real estate broker will know and understand your market.
Best Home in the Neighborhood: Everyone thinks their home is the best in the neighborhood, and that it should be worth more than everybody else’s. This can cause you to be blind to flaws and needed cosmetic improvements which then leads to overvaluing the home, hurting its chances to be sold. Listing with the right real estate broker gives you a well-informed additional opinion that will help you price your home at a realistic market price.
Make Cosmetic Improvements: Potential home buyers make up their minds within the first few minutes of stepping inside a home. First impressions can make all the difference in selling your home. Spending $2,500 for new carpet might add another $5,000 to the price of your home. Get an objective point of view from your real estate professional. He or she can provide you with a list of simple repairs or upgrades that will maximize the profitability of your home sale.
Disclose Property Flaws: Property disclosure laws require sellers to list any flaws required by your state. If you attempt to cover up known flaws you risk losing the sale and finding yourself in court. Get professional advice from your real estate agent who can refer you to a qualified inspector and ensure the smooth sale of your home.
Limited Home Showing Times: Buyers want to view a home on their time schedule. Unfortunately their time schedule is not always convenient with your time schedule. Have your agent install a lock box with a key inside so your home can be shown when you are not around. It would be unfortunate if the one who got away was your next home buyer.
Distress Selling: At times, selling quickly is unavoidable. That’s when knowing the right techniques to sell your home, without looking desperate and making yourself a target for low bidders, really pays off. Be sure that you are not settling for the first offer through the door.
Restrain Emotional Decisions: Don’t let a relatively small amount of money, like a few hundred or even a thousand dollars, keep you from coming together on an agreement for the sale of you home. In the long run this money probably won’t mean that much. Keep your eye on the big picture and react rationally, not emotionally.
Choosing a Realtor Based on Personal Relationships: Home sellers often pick a friend or family member as their agent. Instead, you should choose an agent with a strong track record and aggressive marketing plan. Selling your home is one of the most important decisions you’ll ever make, so make your decisions based it on good, sound business sense.
Not Putting Full Faith and Trust in Your Agent: Would you tell your doctor that you’ve decided to run your own tests and come to your own diagnosis? By choosing the right real estate agent you can relax and trust their judgment. The right agent is a valuable asset and team member who will protect your best interests and make your sale as profitable as possible.
My hope with this article has been to educate you and help you avoid the pitfalls many home sellers go through. By aligning yourself with a top real estate agent you can be more certain that all the significant and seemingly insignificant (but very important) details are handled professionally. Your home sale should not be a grueling ordeal. And the more informed you are, the better chance you have of making a good sound business decision.
About the Guest Author
Mike Andrews is a practicing real estate broker in Denver, CO. Mike is Co-Owner and Managing Broker of Colorado Home Finder Realty, which specializes in working with home buyers. Please feel free to visit the company’s website at http://www.ColoradoHomeFinder.com.
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