You can blame the market, your agent, your broker, or buyers not taking the bait. Go ahead and blame the neighbors who just sold their home across the street.
Sometimes it’s not your fault. Selling a home is a complex, challenging process. Like anything worth sticking your neck out for, making mistakes is part of the process.
If you’re new to the home selling process, you’ll want to consider the mistakes of those who came before you. If you’re sitting on a listing and not having any luck with traditional buyers, it’s time to rethink your game plan. Identifying what’s not working is the key to figuring out what will.
If you’re selling your Alabama home, here are 5 common mistakes to avoid making. Put another way, here’s what not to do for a successful home sale.
Not showing your home at its best
You cleaned and polished the appliances – but they’re old. The kitchen was remodeled… but that was ten years ago. Unfixed or unkempt stuff scares traditional buyers. It’s not so much about what you’ve done with the home over the years. It’s what buyers see themselves as having to-do. Keep in mind that as-is properties are intentionally listed as such.
Prioritize issues reflected in the home inspection. Home buyers have a right to demand repairs. It’s up to you to tackle them yourself or be willing to negotiate on price to account for them.
Cliche as it is, first impressions are everything. Curb appeal counts. A welcoming entryway may literally welcome a home sale. You’re probably aware of these must-dos, but you have to look at the big picture appeal, namely the condition of your home. The mistake is putting too much time into aesthetics and neglecting structural, functional issues. Maybe the front door needs a touch-up. That doesn’t mean the entire porch needs a makeover.
Showing your home at its best to most buyers starts online. Great photos usher interest. Low-quality images drive people to the next, more enticing listing.
Not Putting 100% Into Marketing
Marketing your home is a major task. If you’re still weighing your options for hiring a real estate agent, don’t be fooled by a great sales pitch. What you want i is local experience. The right agent will be familiar with your neighborhood and have a record of selling homes in the area on a regular basis.
An agent can set the listing process in motion but that’s just the start. Marketing a home for sale is about being responsive.
Open houses, virtual tours, print ads and social media are among the many ways to market your home, with or without an agent. A big mistake is not drawing attention to your home’s location. As much as they’re interested in the features and square footage of your Alabama home, potential buyers are also shopping for desirable neighborhoods and good schools. Including these details in your listings helps generate more interest from out of towners.
Pricing It Wrong
No matter how you go about selling, determining the right price at the outset is critical. The foundation of pricing should be based on a comparative market analysis of your home in your neighborhood. Of course there are a thousand other details that contribute, but the key to selling faster and for top dollar is trusting the numbers and, if you’re working with one, a competent professional.
Overpricing is common. You probably have an inflated opinion of your home but it’s not going to float with traditional buyers. As a result, you’ll have to slash the price to less than what you’re willing to take (if only you asked for it in the first place!) Even worse, if you’re stubborn, you’ll be sitting on the market for a very long time watching leads dwindle and interest evaporate.
You say you’re prepared to negotiate. That’s great. But then you sit back and wait for the bargaining to begin or a bidding war to break out. Not so great.
It’s a dynamic, competitive landscape. You have to take action from the get-go, or at any point along the way if things aren’t happening. Remember when you were the home buyer? You wouldn’t have purchased a home with bad plumbing so why would anyone else? It’s a mistake to ignore repeated concerns and refuse to negotiate. If multiple buyers are turning away because of a particular shortcoming, you have to address it. Home buyers are busy too. If you’re unwilling to budge, they’ll just move on.
Not Preparing For The Next Step
No matter how many seller mistakes you don’t make, making a quick sale for maximum profits is never certain. That being said, the mistake that costs the most in the long run is assuming your house will sell at all.
Stay a step ahead of any outcome. What’s your Plan B if your home doesn’t sell?
Come up with a contingency plan to avoid situations like paying two mortgages, having nowhere to live, or having no money to fall back on if you can’t close a deal.
You have options. Better ones if you don’t wait for the last minute. There are many alternatives to the traditional buyers market.
No matter where you’re at in the process of selling a home in Alabama, we can help you sort things out. Give us a call to discuss a cash deal and a quick turnaround. We help homeowners like you sell fast!