Seems these days everyone is telling you what to DO, but where is the DO NOT list when selling your home? Here are three easy tips on what not to do in the sale of your home.
1. Do not get emotional
That is easier said than done -this is your home after all. The more you think of the sale as a business transaction the better and thinking with your heart is not always the best route to take when negotiating a deal.
Buyers will not place the same value on your home as you do. You will have to put your emotional attachment aside. A house is worth what a buyer is willing to pay. Much to the seller's chagrin, this means that buyers set the market. In most cases, there is a going fee for homes. The price is typically is determined by location, house style, number of bedrooms, bathrooms, lot size, and condition to name a few. What is not taken into consideration are the memories and the love you put into taking care of your home.
2. Don't go it alone
Real estate professionals are skilled to showcase home selling qualities. They are also skilled negotiators who know how to get you the best deal. According to the 2010 National Association of REALTORS® Profile of Home Buyers and Sellers, homeowners that sold on their own property typically received $59,000 less for their home than an agent-assisted home sale.
It can be very difficult for a seller to show and close the deal on their own home. It is usually very awkward for buyers viewing a home while homeowners are still there. It may discourage them from commenting, criticizing things, or even looking as thoroughly as they normally would. A buyer is leery about trusting and working directly with the seller. Negotiations typically break down without the real estate professional's expertise.
3. Don't choose the agent who gives you the highest price
Many sellers get caught up in what an agent will say the house is worth. Refer back to number one on this list. The house is worth what the market will bear. Often times an agent may entice you with a higher list price to get the listing, only to drive down the ultimate selling price of your home because it has sat on the market for too many days. Choose an agent based on their reputation, marketing strategy, and one you can trust. You may want to even throw in a gut feeling on the choice. Remember you will have to work with this person so a good relationship is important.