Are you thinking of putting your Long Island House on the market for sale?
Selling your house or condo, especially if you've never done it before, can be a challenge. You may think that all you have to do is put a sign in the front yard, and the buyers will appear.
We as Realtors know it's not that simple, and it may be easy to make some Mistakes too.
In order to answer this Frequently Asked Question "What Mistakes Can I Avoid When Selling Our House?" here is our Top 10 List Of Mistakes To Avoid:
1. Setting The Price Too High ~ Mistake...Overpriced houses do not sell. Sellers often over-estimate the price of their house, and end up pricing themselves right out of the market. Overpricing is the number one mistake most home sellers make. Simply stated, if the price is not right then buyers won't even consider your property. Setting the wrong price may help your competition sell theirs faster. More than any other factor, the right price will sell a house faster.
2. Go It Alone Without A Realtor ~ Mistake...The right Realtor will help you set a fair and competitive selling price for your house which will increase your odds of selling. An experienced Realtor can save you time, money, and lower your risk. In addition to local market knowledge, you need to choose the Experienced Realtor with the best marketing plan and who will continually work to make sure as many qualified buyers get to see your house as possible.
3. Ignore The Condition Of Your House ~ Mistake...Another big mistake made when selling your house is to ignore its condition. In today's competitive market, a sparkling house gets the most interest and top dollar. Most buyers will not even consider a house that needs to be fixed and will automatically subtract the cost of needed fix-ups from the price they offer. A poorly kept house in need of repairs will lower the selling price of your property and will even turn away some buyers. Either way, you save nothing by putting off fix-ups and will likely slow the sale of your house.
4. Limiting Your Marketing ~Mistake...Your home is probably the most expensive item you will ever sell so it only makes sense to have it marketed effectively.
The Experienced Realtor will have many ways to market your house that will work best for your area. You want to make sure that your house is viewed by as many prospective buyers as possible. The marketing used should be able to reach local, national and international buyers. Social Media will help too. Remember, buyers are not always local, and they need to find your house easily. Don't let inadequate marketing limit your chances.
5. No Curb Appeal ~Mistake...When selling your house, make the first best impression from the outside curb appeal. Landscaping, shrubs, flowerbeds and even your front door will help create this first impression. You want to give the "buy me" look before potential buyers even enter your house.
6. Try To Hide Problems ~Mistake...Any problem with the property will be uncovered during the buyer's inspection, so there's no use hiding it. Fix the problem ahead of time or price the property below market value to account for the problem. Realize that if you don't fix the problem in advance, you may turn away the buyers who want a move-in ready home. If they see the house is not as described, they may wonder what else you have tried to hide. Honesty is definitely the best policy so don't disappoint them.
7. Get Involved Emotionally ~Mistake...Yes you have many memories and an attachment for your home, but buyers aren't emotionally attached. Don’t let your emotions dictate your home’s sale price. You have to separate yourself from the emotional factor of selling the house so you can move on.
8. Not Taking The First Offer ~ Mistake...Homeowners sometimes think that the first offer they receive will be only one of many more to come and want to hold out for a higher price. This is especially true if the offer comes in soon after the house is placed on the market. Larry And Sheila know that more often than not, the first offer may be the best offer. A house is most sale-able during its early marketing period, and the amount buyers are willing to pay will lose its value with the length of time a property has been on the market.
9. Don't Respond Immediately ~ Mistake...Another important step when accepting any offer is to reply immediately. You don't want to give a buyer the chance to change their mind because you are taking your time to respond. When a buyer makes an offer they are at that time ready and in the right frame of mind to buy. You don't want to lose a sale because you delayed in replying and they have the time to change their mind. You don't want to stretch the negotiations.