Tuesday, February 19, 2019 / by Pamela Glende
Does the thought of putting your home on the market scare you? It’s normal. You are not alone.
You might be thinking of all the things that you need to get done. You may be worrying about what a home inspection might reveal. You may be worrying about having total strangers in your home. You may be worrying about finding your next home. All these fears, worries and concerns are perfectly normal.
You are not alone. It seems like every seller I work with has some of these fears if not all of them. It’s the fear of the unknown. Let’s look at what might be keeping you up at night.
What if my home doesn’t sell?
It’s hard to have your home on the market. It is a great inconvenience. Always having the home show ready isn’t practical especially with our busy lives. The longer your home is on the market the greater the stress. You may feel like people are rejecting your home.
The truth is that there are reasons why a home won’t sell. They are location, price, and condition. The location you can’t change. As for price, it is key to price your home at the current market value or just slightly below (this can lead to multiple offers in a bidding war). As for condition, it is extremely important to make sure your home is clean, decluttered and that any repairs are completed before listing.
You may want to have a home inspection before you list so you can take care of potential issues. Your agent can help you with staging and give you tips on what you should do to make the home the most appealing as possible. Buyers need to feel an emotional connection to the home before they will make an offer. Take down all of your personal photos so the buyer can imagine themselves in the home. Make sure lights are on before showings and open the drapes. Spruce up the yard and clean up the front porch so you have great curb appeal. Condition plays a big role when competing with other homes in the same price range.
What if it’s not the right time?
Homes sell all the time but it is important to ask yourself “why am I selling”.
Are you selling because you are downsizing or perhaps you need a larger home for your growing family? Maybe you are trying to move closer to family or friends? Perhaps a new job? Maybe there are financial reasons? The market always says it’s the right time to sell but it may not be for you.
You need to have a good reason for selling and you should be crystal clear about what it is. It also should make sense financially. If you haven’t been in the home long enough to have built up equity it might be wise to hold off a while. Talk it over with your agent. A good agent will always advise you if you should hold off on selling. I like to do a net sheet for my clients so they have an idea of what they would net. It costs money to sell so make sure it all makes sense.
What if my home fails an inspection?
This is a common fear. The truth is that most homes have lots of maintenance issues that come up. Sometimes there are larger more expensive repairs that need to be done. A buyer will ask for the repairs that are of the most concern to be repaired. This is the 2nd part of the negotiations. You can negotiate whether you will fix all items asked for or perhaps just some of them or you might not agree to fix any of them. Keep in mind that the buyer can walk if they aren’t happy. I do recommend doing a pre-inspection on your home before listing. This way there will be no surprises and you will sleep better at night. You can fix the items you want to before listing.
What if my home Is not priced right?
This is such an important item to get right. If a home is overpriced it will sit on the market such a long time that buyers will think there is something wrong with the home. You will have to do price drops until you get it to market value and then most likely buyers will low ball you because it has been on the market so long. In the end, most of these homes sell for under market value netting you less than you should have received had the home been priced right at the beginning. Make sure you get a highly recommended real estate agent who knows their stuff. Look them up and read their reviews. A knowledgeable agent will know how to price the home correctly.
For more tips contact:
Pamela Glende | Spokane Realtor
Haven Real Estate Group