3 (+ 1) Common Missteps When Selling Your Home

Author: Tracy Phelan, Broker RE/MAX Garden City Realty Inc. Brokerage | | Categories: #ActionPlan , #AreYouReady? , #DontWaitTilSpring , #HappySellers , #NiagaraRealEstateAgent , #NiagaraRegionRealtor , #PriceItRight , #SellingNiagara , #SellingNiagaraHomes , #SellingYourHome , #StCatharinesRealEstate

Blog by Tracy Phelan Broker RE/MAX Garden City Realty Inc. Brokerage

If you want to sell your house, having the right strategies and expectations is key. But some sellers haven’t adjusted to where the market is today. They’re not factoring in that there are more homes for sale or that buyers are being more selective with their budgets. And those sellers are making some costly mistakes.

Here’s a quick rundown of the 3 most common missteps sellers are making, and how partnering with me can help you avoid every single one of them.

1. Pricing the Home Too High

According to industry experts, the NUMBER ONE thing sellers struggle with right now is setting the right price for their house.

And more often than not, homeowners tend to overprice their listings. If you aren’t up to speed on what’s happening in your local market, you may give in to the temptation to price high thinking you can have more wiggle room to negotiate. This is not a great strategy.

Today’s buyers are more cautious due to higher rates and tight budgets, and a price that feels out of reach is going to scare them off from even viewing your property. If no one’s looking at your house, how’s it going to sell? This is exactly why more sellers are having to do price cuts and have their home on the market longer.

To avoid this headache, trust your agent’s expertise from DAY ONE!  With more than 30 years experience in Niagara real estate, I will be able to tell you what your neighbor’s house just sold for, how your home measures up and how that impacts the value of your home.

2. Skipping Repairs

 

Another common mistake is trying to avoid doing work on your house. That leaky faucet or squeaky door might not bother you, but to buyers, small maintenance issues can be red flags. They may assume those little flaws are signs of bigger problems — and it could cost you when offers come in lower or buyers ask for concessions.

Sellers who do not clean and stage their homes may be throwing money down the drain. . . Failing to do these things can reduce your sales price and may even prevent you from getting a sale at all. 

The solution? Work with your agent to prioritize anything you’ll need to tackle before the photographer comes in. These minor upgrades can pay off big when it’s time to sell.

3. Refusing To Negotiate

Buyers today are feeling the pinch of high home prices and mortgage rates, not to mention inflating prices on just about everything. With affordability that tight, they may come in with an offer that’s lower than you want to see. Don’t take it personally. Instead, focus on the end goal: selling your house. I can help you negotiate confidently without letting emotions cloud your judgment.

At the same time, with more homes on the market, buyers have options — and with that comes more negotiating power. They may ask for repairs or other concessions. Be prepared to have these conversations. Again, lean on me to guide you through this process. Sometimes a small compromise can seal the deal without derailing your bottom line. Don’t forget, in a negotiation, both sides of the deal want to feel as though they’ve ‘won’ something.

 

The Biggest Mistake of All? Not Using a Real Estate Agent

What are you noticing? For each of these mistakes, partnering with me will help prevent them from happening in the first place. That makes trying to sell your house without my help the biggest mistake of all.

Bottom Line

Avoid these common mistakes by starting with the right plan — and the right agent. Connect with me so you don’t fall into any of these traps.



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