Friday, February 8, 2019 / by Emily Cowart
Everywhere you look, you see that the market is a sellers market. That is very true! In fact Spokane has roughly 1.3 months in inventory as I write this. That means that if no more homes are put on the market, there would be ZERO homes in less than 2 months available. That is CRAZY! Thankfully, this is not stopping the buyers. As the summer sale season approaches, you might be thinking of selling. Well, that means you can stick a sign in your yard and sell the next day right? Well yes and no…What most people selling do not realize is that the buyers today are so much more knowledgable than years before. They have access to what the houses around yours are selling for and what they sold for in the past. So you have to be smart when selling.
Here is a list of the mistakes that a lot of sellers do that could leave thousands of dollars on the table:
- Trying to sell it yourself without the help of a realtor – Trying to do this is a special kind of crazy. You need the expertise of a realtor. The numbers also don’t lie – home sellers who try to do it themselves often end up taking longer to sell and sell for far less than homeowners who work with an agent.
- Over/Underpricing your home – This is a huge money-losing mistake. It’s so critical to know your market and that is where a realtor comes in, they are the experts and have the knowledge and systems in place to price your home to sell fast.
- Having a cluttered/dirty home – Just because it’s a sellers market doesn’t mean that you can leave your home in disarray. Clutter eats equity and kills deals. One of the least expensive improvements you can make to your home is to declutter and create a sense of spaciousness throughout, from the kitchen countertops to the overstuffed closets to the trophy-lined shelves in the den. It costs you nothing to get rid of or hide your belongings. The great thing about garages is that no buyers care that it’s cluttered.
- Keeping your vacant home vacant – Selling an empty house makes buyers feel the same way: empty. I’m a firm believer that a home should be dressed or ‘staged.’ Don’t worry, you won’t need to go out and buy new furniture and accessories. Chances are, you have plenty to choose from already; in fact, that’s usually the problem. Another reason this is helpful is to deter any squatters.
- Being too stubborn during negotiations – Too many sellers take selling their home too personally and lose out on creating a win-win deal. Remember, this is a business transaction. Take your ego out of the equation and put your head back into it.
- Using terrible photos – With the technology we have today, you would think that using your cell to snap the pics is the way to go, that is absolutely wrong and those terrible photos will deter potential buyers to even wanting to come see your home. You should always have a PROFESSIONAL take these photos and most real estate companies offer this as part of their marketing for your home. If an agent offers to take pics with their phone, I suggest you find a more professional realtor.