Real Estate
The real estate market is evolving. The sellers market that many have gotten comfortable in has abated. This is leaving sellers with misconceptions that are leading to a variety of mistakes when selling your home.
A seller’s market leaves sellers with all of the advantages. From home condition to pricing to negotiation, sellers hold the cards. This is because there are more buyers than sellers, so buyers are the ones competing and putting their best foots forward to get into a home. In a buyer’s market, even though the seller has the house, they are now competing with other sellers because of the lack of buyers.
If you want your home sold in a specific timeframe, you need to make sure your home is dressed to impress. Avoiding these simple mistakes will help make sure you get a smoother transaction.
Overpricing
Pricing your home properly will be a major factor in how quickly your home sells. Price reductions are becoming more and more common now due to this phenomenon. Just because they are common, does not mean that they are necessary.
It’s important to work with a professional who can help you price your home appropriately. It’s also important to know that the market may not give you the price point you are looking for. A good agent will not let you list your home at a price that will not work well in the market without telling you. Pricing your home in a way that will not match market desires may leave you waiting for the sale of your home to be complete.
Skipping Repairs
This market is not conducive to skipping any steps. California’s Central Valley is in a buyers market and has been for some time. This means that buyers have more options and more negotiating power. Your home needs to be ready to compete.
Take an objective look at your home prior to listing and start making repairs and renovations. This will not only attract more buyers, but help a deal make it through the escrow process. These can be as simple as updating the hardware in your kitchen, to something as big as replacing your roof. In order to compete in this market, get your home dressed to impress so you get buyers through the door and offering!
Rose-Colored Glasses
All of this can be difficult when looking at your own home. It has sentimental value to you, as well as your own blood sweat and tears. When you spend so much time, effort, and money on your home, it can be difficult to see its worth through the eyes of someone who hasn’t invested into the home.
A good agent will give an objective look at your home and give you a price range that meets market value. They will also help you look at the repairs and renovations you should make before listing that will give you the most bang for your buck. It would be a good practice for you to try and look at your home in an objective way. It will help ease the process as people put a dollar value on your home.
Willingness To Negotiate
The final mistake you will want to be aware of is your willingness to negotiate when selling your home. In a buyers market, you as the seller do not have as much negotiating power as you would during a sellers market. While some people are desperate to sell and will give up just about anything to offload a property, you most likely are not in this situation.
Negotiating can be a long and expensive process depending on the home. However, if you are too set on too many things, you may not be able to find a buyer willing to bend to your requirements. Listen to your agent about things to prioritize when negotiating and tool you can use to get the deal you need. Make sure you are open and receptive during the negotiation process so you don’t end up with a sale falling through.
Ready To Sell Your Home?
Eric with ASDM Homes offers an easier alternative to selling your home fast in San Joaquin and Stanislaus county. Cash offers can help you sell your house quickly, for a fair price, without the need for repairs, inspections, or having a line of strangers walk through. Selling a house on the market can be a long, costly and difficult process. Selling your house does not have to be.
If a cash offer is what’s right for you, Eric with ASDM Homes is here to help! We can give you a fair cash offer, help with all the legalities, and streamline the process to help get your home sold fast! Contact Eric today to find out what you can get for your home and how quickly you can get that cash in hand!