Selling your home can be an overwhelming experience. There are a lot of factors to consider, and it’s easy to make costly mistakes if you don’t know what you’re doing. In this blog post, we will discuss 6 common costly mistakes that people often make when selling their Charlotte homes:
1 – Not hiring the right person to sell your home
A home is normally the most valuable asset that most people have so why would you go with the first agent you meet or is nice and friendly to you. Sellers should look at agents the same way people select an attorney to represent them in any important matter. You want someone that is going to fight for you in negotiations and also has the knowledge and experience to resolve potential problems during the inspection stage and title matters. An agent should have a track record of sales for you to review and must demonstrate a strong marketing plan with the utmost attention to detail and a high-quality presentation that must have a serious internet presence – again a home for most individuals is the most valuable asset that people own.
Note: You can select a large firm with hundreds of agents that work “the law of numbers” by signing as many sellers a month possible with the knowledge that only a percentage of those homes will actually sell and you “the client” become a number/statistic OR you can select a Professional agent that sells 100% of his listings and represents you similar to an “Attorney-Client” sole representation and answers all your calls, attends all open-houses and works 24/7 on how to make your home stand out and sell faster than any other property and for the most money.
2 – Mispricing your home
Some agents win listings by simply promising sellers unrealistic selling prices and once the seller has engaged with the listing agent and no activity happens then the agent starts asking for price reductions to sell. This is not only unethical but mispricing your home will lose the impact of entering the market as a fresh listing and having buyers take a fresh look at new inventory. If you lose that fresh impact because you’re priced high, then you’ll need to attract buyers by discounting your home sometimes below the initial “correct” price that you should have entered the market. Also, homes that sit on the market start “smelling” and potential buyers start asking “what’s wrong with this home? – there must be something wrong”. Finding the right balance and price on the pricing meter is key to ultimately sell your home fast and for top dollar
3 – Neglecting necessary repairs prior to sale
Most people are visuals and neglected repairs trigger work & costs in the buyer’s minds. Most people want move-in-ready homes and finding the most impact/less expensive items to repair is key. Having an agent that possesses some construction knowledge and experience with repair costs will help you determine the right items to repair prior to a sale. Note, always leave some items for repair because some buyers may not mind and take your home as-is and you would have wasted money for no reason.
4 – Selling your home empty
Obviously, most agents prefer to have a beautifully staged home in order to allow buyers to imagine themselves already living in the property. I’m sure you’ve experienced this in the past when you’ve walked into a new development model home with everything matching, clean, and perfectly placed to highlight and showcase all the home’s amenities. Staged homes usually have minimal furnishings to allow for open space and make homes seem larger than they are. Also, some buyers are not very design-savvy so staging a home that looks like a Joanna & Chip Gaines creation helps serves the fantasy of owning a beautiful home. But, if you don’t have the option or resources to stage a home due to the pricey tag which sometimes comes with staging a home then the second choice is to show an empty house. Empty houses obviously illustrate the space “in the raw” which demonstrates all its square footage as well as comes across as a blank canvas. Now, not everyone can leave their home so agents can stage or show empty because most sellers currently live in their home so agents need to work around the seller’s situation. In this case, eliminating furniture and personal items like family pictures, etc.. (as much as possible) in order to showcase open areas and also allow the buyer to imagine themselves living there would be the best option. Leaving personal items for potential buyers to see becomes a hurdle in seeing themselves living there because they’ll relate this home as yours.
5 – Not eliminating clutter
Buyers are mostly visual and sometimes cannot imagine beyond what they see. If your home is hard to walk thru because extra pieces of furniture or walls are barely visible due to picture frames covering entire areas these spaces will feel small, dark & gloomy. Less is more, the more you can eliminate in order for buyers to experience the spaces the better chance you have to sell your home. Closets that are packed when buyers open doors will make a home come across as not having any storage space. Again, most buyers are visual and cannot imagine beyond what they’re seeing so persuasive staging – by eliminating and working with current furniture – will showcase the highlights of your home and ultimately help the sale of your home.
6 – Using bad property photos
My biggest pet peeve, when buyers start their real estate search they are confronted with a ton of available listings that come across with one (1) picture and a description. Imagine if you have hundreds of listings to browse through for your home search and all pics look alike, how do I grab your attention? If I have milliseconds to grab your attention I must have the sharpest HD quality photos showcasing your home. We use Drone photography as well as the highest quality HD Virtual walk-through that buyers can walk your home right on their smartphone or desktops once I’ve captured their attention. These added technological benefits we included in all our listings while most agents only bring out these big guns on million-dollar listings.
Your home is one of your most prized possessions and it’s also a major investment. So, when you decide to sell, the last thing you want is for someone else to make some costly mistakes that cost you thousands in missed opportunities. To help make sure this doesn’t happen, let our team at RealtyNex help guide you through the process. Schedule a free call below to see how we can help.