When you want your home to sell at a good price then you will need to develop a smart strategy. The buyer has plenty of options so your house should appeal to the buyer. It is also important to identify mistakes you have made in the past, if you have sold real estate before. Every mistake should teach you a lesson. You should make every possible effort to rectify your mistakes. This is the best way to strike the best bargain with the buyer.
Here’s three tips from Central Florida real estate agent Fred Franks one of the area top Realtor.
Fatal mistakes that a Home owner makes when trying to sell their home
The following are the three mistakes you need to avoid when selling your home.
1. Setting the wrong price for your house
When you are planning to sell your house then the most important step is to price your house correctly. Your house should not be under-priced or over-priced. Both the scenarios will have an adverse effect. If your home is under-priced then it will not sell easily. If it is over-priced then you will miss out on the extra cash that you can get with ease.
It is essential to understand the market. For this purpose you will need to do a detailed market research. This way you can get an idea about the on-going price trends in the market. You have to think from the buyer’s perspective. For examples, compare your house with other houses in your neighbourhood that just got sold recently. This is the best way to evaluate the real worth of your house.
You can visit Trulia.com for this purpose. The site has details about houses that are ready to be sold. Once you have figured out the homes that are similar to yours then make a list of the things that your house does not have in comparison to these houses. The following are the key factors that you need to compare with homes similar to yours.
The condition of a house is evaluated relative to its age. This eventually impacts the price of the house. It is always preferable to remain in a five year range when you are comparing your house to others.
The Square footage
This aspect is pretty important from the buyer’s perspective. If the property is huge then the price will surely be higher.
The location of the house also makes an impact. For examples, houses that offer a beautiful view are priced higher.
The number of bathrooms and bedrooms
The number of baths and bedroom can turn out to be a radical factor in changing the price of the house.
Once you have compared all these factors then decide the price of your house. If you are still unsure then the better approach will be to take the assistance of a professional realtor in this regard. He can give you the right guidance and can give you the right suggestion regarding pricing your home. Remember that if your house is not priced correctly then it can turn out to be a big setback for you so avoid this mistake for sure.
2. Ignoring the condition of your house
Remember the condition of your house can turn out to be the deal breaker or deal maker. When you compare your house with others then also focus on the upgrades in different houses. This will eventually affect the value of the house. Your house should be in the best shape when you are planning to sell it. For example, if the roof is not well-maintained then the buyer will have to replace the roof quite soon. Poor quality titles will also bring down the value of your house. The buyers look at the houses with a bird’s eye view and they will easily be able to identify the cracked ground.
The drainage system of your house also needs to be in a proper working condition. Usually the buyers do inspect the gutters to ensure the proper working of the drainage system. If your house has poor electrical work then this will put off the buyer as well. You need to have an updated electrical system before you decide to sell your house.
You can avoid this mistake by getting your house inspected before you put up your house for sale. If any problems are identified in the inspection process then you can get the issues fixed up. This will add value to your house and you will buy your peace of mind. Additionally you can get termite inspection done prior to selling your house.
3. Poor Marketing tactics
You need to adopt the best marketing tactics when you want your house to sell at a good price. Poor marketing can turn out to be a pretty costly mistake. Most sellers do not understand the significance of social media. Facebook is the best way to connect with people. When you are selling your house the listing needs to be there on Facebook.
The sellers often miss out on the basic things. For example, they list their house without proper photographs. Such listings are often ignored by the buyers because they do not get a clear idea about the house. Both the exterior and interior photographs are equally significant.
Some sellers end up at loser’s end because they do not have any representation and lack the marketing skills. If a seller is unrepresented then he should buying the mailing lists from the listed brokers. There are times when a seller fails to recognise the significance of Print advertising. The smart thing to do is get hold of a reliable broker or agent to represent you. He will be able to guide you regarding the best marketing strategy and this will help you sell your home fast at a good price.
Now that you are aware of the common mistakes made by sellers, make sure that you avoid these mistakes by all means. Because there is a big market out here for you to sell your home now with the market at its peak. When you have to sell your house then sit and plan it out with your agent. Proper planning can prevent you from making these mistakes. This way you will not have to suffer any losses.