Baltimore Realtors say that Selling a house doesn’t have to be as difficult as it seems or often is. The reason the whole selling process is sometimes so overwhelming and hard to pull off is that home sellers often make some common mistakes. If you don’t make those mistakes, selling can be much more manageable and successful. But in order not to make such mistakes, you need to know what they so you can avoid them. So read on to find out the top 5 mistakes sellers make when selling a Baltimore house.
1. Selling When Too Emotionally Attached and/or Not Financially Ready
One of the most common mistakes sellers make when selling a Baltimore house is selling when they’re not really ready to sell. Typically, this happens when sellers still have too strong an emotional attachment to the home or they’re not truly financially ready to sell. And sometimes it’s both.
If you’ve lived in your home for many years, raised a family there, and created precious memories there, you may not be emotionally ready to sell. “It’s extremely important,” according to real estate gurus, “when selling a home that you are really ready to part ways with your home. Whether you’ve spent a couple of years in a home or 30 years, it’s critical that you know that it’s the right decision to sell your home.”
A related mistake involves sellers not being financially ready to sell. This can happen for many reasons, but most commonly this situation arises because sellers really aren’t in a financial position to purchase the upgraded home they’ll need when they sell. According to industry pros, “it’s important that you’re comfortable that you can afford to buy a home that is going to make selling your current home worth it!”
2. Pricing Incorrectly
It’s often been said that pricing correctly and competitively is your best marketing tool and sales strategy. You can, of course, price too low hoping to get many bids, but this often results in no sale because buyers automatically assume something is wrong with your house. A more common one of the mistakes sellers make when selling a Baltimore house, though, is pricing too high.
Here’s what the experts have to say on pricing too high: “Homebuyers are very savvy and educated . . . and pricing a home high to leave room for negotiations doesn’t work. A buyer will elect not to look at a home because they feel it’s priced too high which is obviously not what a seller wants to accomplish.”
Pricing correctly means pricing according to the fair market value within the local market. This is where your local agent can prove her worth by performing a comparative market analysis. To discover more, call 443-928-4550.
3. Not Preparing the House
You might not think it happens, but another of the mistakes sellers make when selling a Baltimore house is failing to prepare the house properly. This often neglected preparation involves both readying the house for the marker and preparing it for showings.
Getting your house ready to list means making it look it’s absolute best in order to create a great first impression. You have to de-clutter and clean, make needed repairs and improve curb appeal. You also need to stage it. Numerous studies have shown that staged homes sell faster and at a higher price than those that haven’t been staged. “A disastrous home selling mistake that too many sellers make is not preparing their home for showings.”
4. Considering Only the Highest Offer
Sure, you want to make as much money as possible when you sell your house. But one of the top mistakes sellers make when selling a Baltimore house is failing to realize that the highest offer may not be the best offer.
The highest offer may be exciting, but it may not be in your best interests. That high offer may come with contingencies that can slow down or even stop the sale. For example, it’s not uncommon in sales contracts that the sale of your house is contingent on the buyer selling his current home – which may or may not happen.
The best offer, then, may not be the highest one, and that’s where your agent can help. Your local agent can help you assess offers to determine which one best helps you realize your selling goals.
5. Choosing the Wrong Real Estate Agent
Perhaps the direst of all the mistakes sellers make when selling a Baltimore house is choosing the wrong real estate agent. You have to make sure your agent has your best interests at heart and isn’t just chasing a commission. You also need a local agent with experience in and knowledge of the local market. And your agent should also have solid negotiating skills.
But finding the right agent can be a long and arduous process.
That where can help – with the experienced local agents you need to help you avoid these mistakes sellers make when selling a Baltimore house. Find out today how our agents can keep you on the right track. Send us a message or give us a call at 443-928-4550.