Selling Your Home in Spring – 6 Things to Avoid
Ah, the flowers are in bloom and everyone is layering their clothing, so it must be spring. Another major indicator of spring is all the “for sale” signs that start “springing” up, for lack of a better word.
If you plan on selling your home in spring, there are some major blunders you’ll want to avoid to ensure that you get your home off the market quickly.
1. Acting like your home is the only one on the market
Truth is, a lot of home sellers know that home buyers begin their hunt in the spring, and while it’s normal to feel somewhat attached to your home, you need to step away from the doilies and look at your home from a home buyer’s perspective.
Remember that you need to price your home in a way that gives you a competitive edge without under pricing and losing out on what’s rightfully yours. Just be smart about it and don’t overprice your home because you’re emotionally attached to it.
2. Not doing your research on what else is out there
If you don’t do your homework, and yes, home selling comes with homework, then you might end up overpricing your home to the point of not having any visitors. Or, you might end up asking a price that’s so low that you end up losing out on thousands of dollars.
Check out the homes that are for sale in your area by researching them online, especially the homes that are similar to yours. As well, you might want to look into getting a Comparative Market Analysis – this will give you a good indication of a good sale price.
Finally, go to some open houses. “I think visiting open houses to see how their home really compares is a great way of putting things in perspective,” says Randall Weese, Licensed Broker of Record at ComFree Commonsense Network brokerage in Ontario. So get out there and see what other homes have to offer.
3. Forgetting the importance of home staging
First impressions leave lasting impressions, so you want to make sure that when home buyers see your home online or show up at your open house, that they see a home that is essentially move-in ready.
Make sure to go easy on all the personal knickknacks and show off a space that is clean and organized. You want to make the home shine and help them to see themselves living in it. It is no longer your home; it is a product that you are marketing.
4. Not being there for open houses
Who better to go over the ins and outs of a home than the very person who has been living there for years? Many home buyers prefer to speak directly with the home sellers to get details about the home that they otherwise wouldn’t be able to find out.
Just keep in mind that there are certain things that you do not want to reveal during an open house and then open up your doors and let the home buyers check out your beautiful digs and give them the 4-1-1 on what your home is all about.
5. Losing it during the negotiation process
Sure, you might have some home buyers who will completely lowball you with an offer that would make a grown man cry, but you can’t let it get to you. The negotiation process can sometimes be tough, but keep in mind that it’s all part of the bigger picture – it’s a business transaction and each party wants to come away a winner.
Don’t take it personally; the buyer is thinking about his or her own interests and their intent is not to offend you.
6. Rejecting an offer outright
Sometimes home buyers will lowball you on purpose, just to see if you’ll bite. Rather than reject the offer and call it a day, perhaps it might serve you better to counter their offer with something you think would be more acceptable.
Ignoring or dismissing a property might leave you missing out on a real buyer who goofed at making an offer. So rather than just reject any price you think is too low, try countering instead. It may just lead to a great sale in the end.
Orignally posted April 16, 2014