Selling a home can be a complex and stressful process. Even in the best market conditions, whether you’re a seasoned pro or a first-time home seller, reset your expectations and adjust your sales strategy accordingly to get your home sold for the price and terms you want.
This guide outlines six of the best habits of highly effective home sellers. However crazy the real estate market gets, you can adapt these practices—from being proactive in maintaining your home to having the right mindset—to help achieve your goals and sell your home at the best possible price.
One of the best habits successful home sellers have in common? They hire a good, reputable realtor. Not only do real estate agents have the knowledge and experience necessary to help you with all the key points of the sale. They also have the network and tools to boost your home’s marketability.
Even if you think you understand the complicated process of home-selling and have the talent to go the FSBO (For Sale By Owner) route, you must still be familiar with the laws and regulations of the real estate industry. Having a listing agent by your side to answer any questions, set the right price for your home, vet offers, avoid wire fraud, and negotiate deals on your behalf will ensure you avoid pitfalls and/or unexpected headaches. Successful sellers recognize what a realtor could bring to the table. You don’t go to war without wise guidance, after all.
One of the biggest temptations when selling your home is to list it “as is,” which means the property is being listed in its current state without making any repairs. But putting your home in the market “as is” can seriously limit your pool of potential buyers. Aside from the fact that your home might not get the first good impression that is critical to a successful home sale, buyers might not be able to secure financing if the property is in poor condition.
While you might not want to invest a lot of time or money into your home, it’s best to address essential repairs and prep it before selling. The cheapest thing you can do is to schedule a deep cleaning and decluttering. Then, take care of any necessary repairs and touch-ups, like fixing that hole in the screen door or refreshing your carpets. Be proactive in ensuring your home is in tip-top condition so you can present your home in the best light possible to attract offers, especially in a slow housing market.
Setting a realistic price that aligns with the current market is crucial in securing a home sale. If the home is overpriced, you can lose out on a lot of potential buyers and lose precious momentum. The property then stays on the market for longer, and you will have to gradually slash the price. Buyers might think there’s something wrong with the property and that you’re desperate, opening doors for them to present lowball offers.
Although pricing a home can be tricky, the key is to not let your emotions guide you in coming up with a pricing strategy. Instead, work closely with your real estate agent to perform a comparative market analysis on your home. They will look at recently sold properties in your area to give you a better idea of a fair price range for your home. When your home is priced right, you’ll attract serious buyers and increase your chances of a successful sale.
When selling your home, it’s in your best interest to stay open-minded throughout the whole process. Understand that the highest offer might not necessarily be the best, especially when there are other factors to consider. Broaden your perspective beyond the price tag and consider the buyer’s overall financial profile, the contingencies presented, and the closing timeline, among other things. Cash offers could also go sideways when there’s been a change of heart from an investor or a wealthy buyer. Keeping an open mind and a willingness to negotiate is the key to an effective sale.
Flexibility is the name of the game for many successful home sellers. They plan for showings, making sure that their home is ready to accommodate prospective buyers and that they have somewhere to go during the house tour. They’re also open to possible last-minute requests and are generally as flexible as possible, especially during showings in the evenings and on the weekends. This can help build trust and credibility among buyers. The more people can tour your home, the better your chances of receiving a strong offer, especially in slow real estate markets.
For many people, pets are considered as part of the family. They probably have their favorite spots in the home, together with their bed and toys. But when it comes to home showings, it’s best to not let them roam around the house. A potential buyer could be allergic to pet dander or just don’t like pets at all. Also, your pets could bolt for the door and escape while there’s an ongoing tour. The last thing you’d want is for the buyers to get distracted and not be able to focus on your home and its condition.
So take your pets with you when you schedule a showing. Since first impressions are critical, remove any signs of them and clean their areas. If you can’t take them with you, make sure to keep them in a comfortable spot in the home and give your agent the heads-up on what to expect.