Selling your house? It can be tough especially if you have never done it before can be surprisingly time-consuming and emotionally challenging. Unknown people will run into home and poke around.
Also, they will criticize the place that has probably become more than just four walls and a roof to you and to top it off, they will also offer you less money than you think.
Although, with no experience and a complex, emotional transaction on your hands, it’s easy for the first time home sellers to make a lot of mistakes while selling your house fast in Houston. But with a little know how you can avoid these pitfalls altogether.
Read till the end to know how you can get the highest possible price for your home within a reasonable timeframe.
Mistake 1: Being emotionally involved
Once you are ready to sell your home, think yourself as a businessperson and a home seller rather than as a home’s owner.
Also, remember how you felt when you were shopping for that home. That is because most buyers will be in an emotional state of mind. If you remember that you are selling not just a piece of property but an image then you would likely put in some extra effort of staging and some minor changes to get the best price of it.
These small changes won’t only help the sales price but will also help you create that emotional distance.
Mistake 2: Not hiring an agent
Real estate agents command a hefty commission, still, it is best recommended to contact them especially if you are selling your home for the first time. A good estate agent will help you to set a good and fair competitive selling price for your home that will increase your odds of a quick sale.
Further, he will also help you tone down the emotion of the process by interacting with potential buyers so you don’t have to. An estate agent will have more experience negotiating home sales than you do, thus helping you to get more money than you could on your own. Although, if any problem occurs during the process, an experienced agent will there to handle them for you. Finally, agents are familiar with all the paperwork and pitfalls involved in real estate transactions and can help make sure the process goes smoothly.
Mistake 3: Minimizing what agents do
Some people are expert in selling their homes. In order to do that, you will need to do your research on recently sold properties in your area and properties currently on the market to determine an attractive selling price. Also, keep in mind that most home prices include an agent’s commission factored in and you may have to discount your price as a result.
You are responsible for your own marketing, so you will want to make sure to get your home on the multiple listing service (MLS) in your geographic area to reach the widest number of buyers. Also, it is you who will be showing the house and negotiating the sale with the buyer’s agent, which can be time-consuming and stressful for some people.
If you are foregoing an agent then consider hiring a real estate attorney which can help you with the finer points of the transaction. With the attorney’s fees, though, selling a home yourself can save you thousands.
Mistake 4: Setting an unrealistic price
Whether you are working with an agent or all alone, setting the right price is the key here. Remember the market analysis that you and your agent did when you bought your home to determine a fair price? Here, the buyers will also do the same as a seller, you should be one step ahead of them.
Overpriced homes generally don’t sell that easily. Also, don’t worry about setting the price on the lower side because it will generate multiple offers and bid the price up to the home’s true market value.
In other words, underpricing your home can be a great strategy to generate extra interest in your listing.
If you have given an ad that stated “sell my house quickly” then don’t forget to read this article as it covers all the mistakes that you need to avoid while selling your house.