Selling your home can be emotionally challenging and time-consuming. Strangers will invade your home to sneak peeks into your closets and cabinets, and will criticize the home that you have so lovingly cherished for years. Then, to make matters worse, they may offer you less money than you think your home is worth.
With no experience in dealing with such a complex transaction, it's easy for first-time home-sellers to make mistakes. Continuing from our Sept 15th post, read on to find out what these pitfalls are to avoid them altogether.
4. Getting emotionally involved
Try to approach the transaction from a purely financial perspective to distance yourself from the emotional aspects of selling your property. Yes, you would no doubt have created many memories in your home, but also try to remember that most buyers will be emotionally invested in their purchases too.
If you become too sentimental when selling your property, you will be less likely to put in the extra effort of staging and remodeling to get top dollar for your home. Making these changes will not only help the sales price, but will also help you distance yourself emotionally from your property once your home looks less familiar.
5. Not hiring an agent
Although real-estate agents will often command a commission, if you have not sold a home before, it would be ill-advised to go about it without guidance.
A good agent will help you set a competitive selling price and will increase your odds of a quick sale. You can also avoid some of the common emotional pitfalls by hiring an agent to interact directly with potential buyers so that you will not have to deal with them. The experience and expertise they offer will be worth the price you pay.
6. Assuming you must hire an agent
This may sound contradictory to our preceding advice, but there is also the common notion that every sale needs to have an agent in order for it to succeed. There are cases in which people do sell their properties themselves, but this is less frequent and you do need to do your own research very carefully.
If you have the expertise in this area and would be able to handle the time-consuming, stressful, and emotional act of negotiating the sale with the buyer’s agent, then by all means go for it.
It is best to prepare yourself well for less-than-ideal scenarios in the tricky real-estate transactions. If you are ever in need of assistance of buying or selling, please make sure to check us out to find out how we can help you navigate the Red Deer real estate market.