Selling your home is no easy process. According to the Zillow Group Consumer Housing Trends Report 2018, 62% of sellers own their homes for 10 years or more before selling, indicating that most homeowners aren’t in a hurry to move on. Whether it’s to avoid stressful logistics or an emotional upheaval, it’s reasonable to want to put off selling as long as possible.
If you’ve gotten to the point where you’re ready to sell, however, there are some best practices you can utilize to make sure it goes as smoothly as possible. Here are a few tips:
Overpricing Your Home
While it’s tempting to list your home at a high price, this can deter qualified buyers in your price range and make it sit on the market longer. It’s key to determine an accurate listing price by working with your agent before putting your home on the market.
Poor Timing
The timing of your sale can make a huge impact on the price you’re able to get. If you’re able to wait until the first half of May, which is the best time of year to sell in most places, your home is likely to sell faster and for $2,500 more (on average). Weather can also be a factor in your city’s selling window, so keep that in mind.
Skimping on Repairs
Even small defects can turn buyers off, as they’ll often wonder if you’ve been neglecting bigger issues in the home as well. These can be corrected through a pre-inspection and correction, which may also be more cost-effective than waiting for a buyer to discover the issue and try to negotiate a closing credit.
Failing to Prep and Stage
Making your home look its best before listing is time and money well-spent. A clean, uncluttered, and bright home is what buyers are looking for. Be sure to clean, depersonalize, declutter, and stage your home before opening the doors to potential buyers.
Not Hiring an Agent
According to the Zillow Group Consumer Housing Trends Report 2018, only 10% of sellers complete their sale without the help of an agent. Another 10% start the process on their own, then end up using an agent. There’s a clear reason why most people choose to hire real estate agents: across the board, it results in your home being sold faster and at a higher price.
Source: Zillow