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July
10
10
The Most Common Issues Home Sellers Run Into
Everyone knows buying your first home is complicated, but selling for the first time isn't exactly a walk in the park. When cashing in your biggest asset, there is a lot on the line. If you don't have experience, you can make mistakes, and in a high-stakes transaction, mistakes can be very costly. Luckily, our real estate agents have many years of experience, so we've seen it all. We know the types of issues sellers frequently run into, so to help you avoid them, we pulled them into a quick list:
- Setting The Wrong Price
One of the most common issues sellers face is setting the wrong asking price. Determining an asking price is a delicate balance -- you don't want to set it too high, or else your home may sit on the market, leading buyers to wonder if it has some issues. Price it too low, and you're leaving money on the table. The best thing to do is work with your real estate agent to look at the price of similar homes that have recently sold within a mile or two of your home. - Selling During The Winter
There are pros and cons to selling your home in every season, but selling during the winter, specifically during the holiday season, can do more harm than good. We don't typically see a lot of buyer demand around the holidays, which means the buyers who are in the market often have more negotiating leverage. - Skipping The Staging
Home staging refers to the process of preparing your home for the market by adding neutral furniture and decor that helps highlight the features of every room. This is an important and difficult part of the selling process. Many sellers skip it because they don't have the time, expertise, or funds. However, a properly staged home can add thousands to your sale price. For some examples of great staging work, check out these Nassau County homes for sale. - Not Marketing Your Listing
The real estate market has changed quite a bit over the years. Many of our clients discover Suffolk County homes for sale on various social media platforms. In order to drum up attention, turn to your own social media accounts to promote your listing and tell all your friends and family you're selling. Your real estate agent should do the same. Just make sure you have great listing photos! - Ignoring Significant Problems
If your property has major issues, ignoring them is not the right strategy. Chances are your buyer will discover the problems during the home inspection. You can decide to fix the issues upfront, price the property below market value, or wait for the buyer to come back and negotiate. The third option carries risks, as the issues could scare off the buyer altogether, or the buyer may request you fix the problem prior to closing. When it comes to home problems, we usually recommend tackling them head-on. - Not Hiring A Real Estate Agent
Sometimes sellers try to increase their return by selling their homes without a real estate agent. This is not recommended unless you have experience. Selling a home is no easy task. It requires strong negotiating and marketing skills, as well as an understanding of the real estate market. By attempting to sell your home yourself, you stand to leave a lot of money on the table.
Real estate transactions are complex, but a good real estate agent can help you every step of the way. If you're planning to list your home this year, Contact us today!