If you are considering selling your home, it is important to avoid putting up unnecessary roadblocks to the sales process in the weeks ahead.
As you know the market in Greater Vancouver is at a high level and You want to sell your home fast and for a good price. Accomplishing these goals requires avoiding some very common mistakes. When breaking down why some homes fail to sell, it usually boils down to a few common denominators.
1. OVERPRICING
Overpricing a home is one of the most common mistakes made by home sellers. This is understandable. Usually the home they are selling is the most valuable thing they own. They may have poured money into it for years. They may also be unwilling to accept that the market has not been kind to their home. Of course, none of this matters when it comes time to sell.
The reality is that you are selling a property, one of probably thousands on the market, and the buyers that are out there are not interested in the feelings of the seller. They are interested in purchasing a property, one that is selling for a fair price.
Your real estate agent will help you decide a price that will actually work – that will result in a sale. Trying to ask for anything more, even if you believe the house is worth more, is more than likely going to make it sit on the market for longer. If you want to wait until conditions are more favorable for a higher price, you can. But if you want to sell now, you need to price competitively.
2. PICKING THE WRONG AGENT
There are numerous real estate agents offering their services. But only some of them are well-qualified to sell your home. Do they know the area? Have they been selling for long? What are their statistics like – percentage of homes sold, percentage of homes that sold for close to the original price (means he or she knows how to price the home)? Does the agent have a good reputation, one you can verify by talking to clients that were happy with their transactions?
Take some time and interview several different agents before you decide on one. The fee for hiring an agent is worth the cost, but only if the agent is good. Most homeowners do not take the necessary time to thoroughly interview agents. This can be a costly mistake!
3. NEGLECT OBVIOUS REPAIRS
There are some repairs that just have to be done before you try to sell the home, at least if you want to fetch a good price. Sometimes it is difficult to know what those repairs are, which is why it is helpful to have an experienced agent to discuss your home with. But there may be some repairs you are already aware of that you know, deep down, must be dealt with. All home sellers should be aware of how to prepare for the buyers home inspection. Taking care of obvious and common issues is just good business!
If your carpets are stained and smell from inside pets, it is not something that buyers will overlook. If your roof is literally falling apart, buyers will shy away from the home. Landscaping is another area that is hard to ignore. You don't have to spend thousands creating an oasis, but mowing the grass and filling in any holes is probably a good idea. Turn-key properties fetch top dollar today. Those that have been neglected often times are ignored or get punished severely when it comes time to negotiate
4. NOT HAVE IT SHOW READY
This is another area where home owners sometimes don't see that there is a problem. You live in the home every day, so it seems normal to you. But if the home is in disarray, it will not be appealing to people that come looking to buy.
Most of the time it is easiest to just hire a professional cleaning service. They can come in and clean up all the nooks and crannies of the home, making sure that anywhere that buyers look will be presentable.
You should also clear out any clutter that is present, probably by renting a storage unit and placing the items there. You want the home to look as spacious as possible, and closets and basements full of junk do not help.
This is another area where having an agent can be so helpful. He or she can look over your home as it is now, and tell you what needs to happen to get it ready. This may include repairs, professional cleaning and redecorating. But, even if it seems like a lot of work, at least you know when it is completed that your home will look its best.
5. MAKE IT DIFFICULT TO SHOW
When you are proud of your home, it is normal to want to show it off. But if you have hired an agent, you really want to try and let him or her do the showing. The more hands-off you can be, the more likely you are to make a sale.
Your agent has been trained, and probably has years of experience, in selling homes. He or she knows what to say and what not to say. The agent will know all of the home's selling points, and subjects to avoid. Having you come in and try to describe the place in the middle of the agent's efforts can be disruptive and unhelpful.
Another way that owners make it difficult to show a house is by being unavailable, or failing to keep the home in a show-ready state.
It is important to understand that when you decide to sell, you are embarking on a journey that may take some time to complete. Through the process, you will need to be ready to do what it takes to make the sale. This may include keeping the house extremely clean, and being available when the house needs to be shown.
If you can do these things, you will make the job of your agent a lot easier, and will help make the sale happen much faster. By avoiding all of these these common home sale problems you will increase the chances of sitting at a closing table relatively quickly with a smile on your face.
As always, you want to use an experienced real estate team to list your home. They will know how to present your home in its best possible light, minimizing any flaws, and highlighting all the key assets. It is crucial to selling your home that you choose the right agent!
So don’t forget to call the #1 Husband/Wife team Rahul and Aman Gill of Gilco Real estate Services to sell your home faster and for more money at 604.562.0068 or visit their website www.GILLTEAM.com
