Unforeseen circumstances, home is too small, needs an upgrade, home doesn’t meet the needs, new job transfer etc. The reason for selling a house could be any! Selling your home is not as easy as it used to be in the past.
Canada; which was originally a sellers’ market, offered an edge to the sellers but in recent years, it has been observed that it is tilting towards being a buyers’ market at a swift pace. There is a high demand for houses which is fulfilled by an equally high supply of house listings. So, if you want to stay afloat in such a highly competitive market and sell your home for the desired price; you just can’t afford to make mistakes.
Here are enlisted top 7 mistakes you must avoid when selling your home-
1. Working solo
If you believe that simply advertising your home by adding a sale sign outside the house or putting your house on the listing will get you buyers; you are wrong. The home selling process is as complicated as home buying. For buyers to approach you; your presence must be noticed and known. Simply advertising by yourself is seldom enough. Due to swindles and fraudulent deals; most buyers prefer buying a house through a real estate broker.
It is, therefore, a good idea to contact real estate companies or brokers to ensure quick access to genuine buyers. They will help you throughout the process and ensure the deal is in your favour. All you have to do is find the right real estate agent, pay the real estate brokerage, get access to their market knowledge, and other contacts, and sit back as the home-selling process is carried out without stress.
2. Setting an unrealistic price
Everyone desires to derive great profits from their house. However, it’s essential that the price that you claim for your house is not exorbitant and actually adheres to the ongoing market price in the locality. You can of course set a high price but know that the buyers won’t be inclined to buy an overpriced house and your house will probably stay on the listing for long. Therefore, discuss pricing with a real estate agent since they can help you come up with the perfect price for your house taking all the necessary factors into consideration.
3. Waiting for home selling season
It is widely believed that early fall and Spring are the best time of the year to sell your house. Surely winter is too cold to step out and not the most ideal season to go house hunting; it is not a good idea to wait for the perfect season to put your house out there. Today, with technology, most people are browsing for available property sitting right inside their house. Therefore; put your property on the market no matter what time of the year it is. This will also limit the competition you face since most sellers stick to selling homes in the prime seasons.
4. Uploading low-quality photographs
As mentioned earlier, most people are checking out properties online. When you upload photographs on any listing site, these become the first point of contact between the potential buyers and the house. So, ensure the photos are high in resolution and portray your house in the best light thereby alluring buyers than disengaging them.
5. Hiding defects and skipping on major repairs
Many sellers can’t repress the urge to hide defects or withhold information about these if they cannot afford the repairs. You as a seller need to be mindful that all these deficits will certainly turn up during inspections and shatter the trust of your buyers which will of course lead to losing the buyer and can further ruin your image as a seller if these buyers go out and provide reviews or spread the word of mouth. So, it’s always a good idea to either fix the defects or at least disclose the required information to the buyers.
6. Not negotiating or addressing buyer requirements
Negotiating and understanding the buyers’ needs is crucial if you are actually willing to sell your house. You can’t be obstinate and overlook the buyers’ needs. You naturally might feel the offer being made is unfair and way lower than your expectations. This is when you can sit with your real estate agent and discuss the pricing, thereby ensuring you end up in a win-win situation with the buyer.
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7. Being unavailable and refusing to make changes
You need to accommodate your buyers’ timings even if they cause inconvenience to you. Always attend to their calls and be approachable so they feel they are valued as a buyer. Your demeanour can greatly influence the deal. Additionally, refurbish wherever necessary to augment the appeal of your house.
Lastly; don’t let your emotions take the driver’s seat. Be thoughtful and practical throughout the process. There are going to be moments wherein you feel like holding on to your house due to the memories associated with it. But you can only have a successful sale and smooth transaction if you turn a blind eye to your emotions. Happy Selling!