Five Common Home Pricing Mistakes and How To Avoid Them
When it’s time to sell your home, selling it for the right price that coincides with the current local housing marketing is key. Selling can be difficult and daunting, but if you avoid common mistakes, it can help ensure the process is stress-free and easy. Here’s what you should avoid before you put your house on the market:
1. Not doing any research Setting a price on a home without performing the necessary research before putting it on the market will make the process more time consuming and difficult. It’s always in the seller’s best interest to research not only the market but also prices of surrounding homes in your neighborhood. By doing so, it guarantees you can sell your home for what it’s worth without overpricing it. Researching will set you up for success and ensure you’re on the right track to successfully sell your home!
2. Setting the price too high This is one of the biggest mistakes a seller can make, and it almost always causes them to lose A LOT of money. When setting the price too high at the start, many potential buyers can overlook it because it is out of their price range. By the time a seller lowers the price, those previous potential buyers have most likely found something else. Other interested buyers will see the home has been on the market for too long and will turn away thinking something could be wrong with it. The best way to avoid this common mistake is simply pricing your home appropriately right off the bat. This will ensure you gain the attention of serious buyers, sell faster, and you won’t lose money! It’s a win-win for everyone!
3. Not being willing to negotiate When a seller refuses to negotiate a price with an interested buyer, this could potentially force the seller to negotiate at a much lower price down the road. The best thing a seller can do is be open to all offers made and decide from there what route they would like to take. Remember, you want to consider a decent offer rather than potentially lose money!
4. Not decluttering prior to listing your home Having clutter around when showcasing your home can dramatically lower the chances of it selling. When looking for a home, buyers want to see how spacious each room is and if they are packed with clutter, it can make the space appear much smaller. Make sure you tidy up to ensure your home is in the best condition before showcasing it to potential buyers to show off its true beauty!
5. Letting your emotions get the best of you When it comes to selling a home, it can be difficult for sellers to push their emotions to the side. Even though you may think your house is worth more because of all the time and money you put into it, it doesn’t matter to potential buyers. The best way to avoid this is by staying unbiased during the process. This is also another reason why it is so important to perform the necessary research beforehand to guarantee you’re following the market and not pricing your home based on the value you think it holds.
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