Carol-Ann Palmieri & Al Mussi's Blog
Successfully selling your home in the shortest period of time is generally an achievable goal, but there are many potential pitfalls to be aware of. Although one of the most important steps you can take involves hiring an experienced, proactive real estate agent, your own attitude and beliefs can have a major impact on things like the final selling price and how long your house stays on the market.
While your real estate agent can provide valuable guidance, advice, and marketing help, there are certain things that only you, the home owner, can do. Maintaining a positive outlook is one of them.
If you have self-defeating attitudes and beliefs, you may be undermining the sales process and keeping potential buyers at a distance. Here are a few examples of how your own negative attitudes can be a major stumbling block to getting your house sold quickly and for an optimal price.
Unrealistic beliefs: Sometimes sellers are so emotionally connected to their homes that they're unable to relate to the viewpoint and perspective of potential buyers. Pricing, for example, should be based on objective criteria and comparative data, rather than emotional attachment or perceived value. If the price you're asking for your home is significantly above the actual market value of your property, then that will raise red flags in the minds of both prospective buyers and mortgage lenders. Although you want to get the highest possible price for your family's home, it has to be based on a realistic range that would be acceptable to both buyers and lenders.
False expectations: Homeowners who expect prospective buyers to recognize the intrinsic value of their home, even though the paint is peeling and the bathrooms have never been updated, are setting themselves up for disappointment and failure! When you factor in human psychology and the competitive nature of the real estate market, it becomes apparent how vitally important first impressions and overall presentation are to the marketing a home.
Pessimism: Although positive thinking, alone, is not going to get your house sold, it can help give you that extra boost of energy and motivation to make sure your home is clean, organized, and visually appealing. Pessimism, on the other hand, can cause you to be less thorough, attentive, and conscientious about keeping your home immaculate, fresh, and ready for potential buyers. If there's any hint of the house being unclean, in disrepair, or cluttered, then you've lost your opportunity to make a positive first impression.
Finding and working with a real estate agent who's got a solid sales record and a proactive approach to selling houses is among the key ingredients to getting your home sold quickly and for the best possible price. Although they'll be doing the lion's share of work when it comes to marketing your property and coordinating the details, your support and cooperation plays an important role in the ultimate success of their efforts.
Many sellers rely on agents to help them to deal with the task of selling their home. If you’re looking to buy or sell a home, a real estate agent isn’t required. There are many advantages and disadvantages to selling your home as a “For Sale By Owner” (FSBO). Read on to discover the good and bad of selling your home on your own.
Avoid Paying Commission
Real estate commission is the main reason that many sellers choose to go it alone. You’ll pay about 6% commission on the sale of your home between buyers and sellers agents. When figuring out the asking price for your property, this number that you’ll pay for a commission is included. This sale price also should be enough to pay off the remaining balance on the property. If you don’t have a lot of equity in your home, an FSBO may be your only option if you can’t afford the commission. Another option is to wait to sell your home until you have built up enough equity for the transaction to make sense for you.
You Can Find Other Resources To Help You Sell The Property
There are so many resources available to FSBOs in today’s market. Yards signs aren’t the only thing that sellers can use to get people interested in their property. Many websites and resources assist people taking the FSBO approach. You still may not be able to get your property listed everywhere if you’re not a real estate agent.
You Won’t Be Able To List The Property Fully
Only licensed real estate agents have access to the MLS, where buyers' agents and other websites pull available properties. Not having access to this can be a deterrent to the marketing of your home. You could miss out on getting many home showings that you otherwise would if your house was listed on the MLS.
There’s No One To Help You With Paperwork And Negotiations
Real estate agents certainly earn their commission. There is a lot of work in both selling and buying a home. If you hire an agent, he’ll be taking phone calls, sending off forms, and dealing with the negotiations on the property. An agent will also coordinate home showings and have the ability to show your property when you’re unavailable. If you go it alone, you won’t have that assistance and may be a bit overwhelmed during the selling process.
A real estate agent also understands the lingo better than someone who has been outside of the business. There are many advantages to paying his fee if you decide to hire him for the sale of your home.