Mistakes to Avoid When Selling Your Home (part1)
At Arrowhead Title, we have a close relationship with numerous local Realtors and we know a thing or two about the challenges of buying and selling houses at the Lake of the Ozarks. The better prepared you are for the sale, the quicker you can get to the closing table, and we are here to help. Today, we thought we would share some insight on what to avoid when selling your home, part 1.
Mindset and Emotion.
The hardest thing about selling your home is the emotional and mental toll it takes to get through the process. You have a lot of time, money, and memories invested in your home and it has more than monetary value to you. But not so much for the seller. The buyer is not looking to connect with the seller’s vision of the house, but rather to visualize themselves in the house. You are selling a lifestyle, not just a commodity. But you are selling something, so you should have the perspective of a businessperson or salesperson. Your mindset must be ready to hear objections without taking offense, to compromise where appropriate, and negotiate to close the sale (not defend your territory).
Pricing can be tricky if sellers don’t separate their emotions. What you think your house is worth is not relevant. Buyers are looking at what is available right now and comparing costs. The value of your house depends on what buyers are willing to pay, which is directly related to what else they could get in the same price range right now. If you price your home too high, you can turn off potential buyers, and cause the sale to take much longer (and perhaps not gain any more money in the long run). Rely on your Realtor to guide you, he or she has the knowledge and expertise to help you immensely on pricing your home to sell in the current market.
When people can see themselves living in and enjoying the home, that is when your house stands out from the rest. Making your home look and feel inviting, clean, well maintained, and neutral makes all the difference. You may love your style, but don’t limit your buyers to just those who agree. Neutral colors, minimal furniture, and décor that is not too stylized is more welcoming to a wider group of people. Also, making sure you take care of repairs and maintenance before remodeling and decoration is critical. Buyers notice lack of maintenance and wonder what other issues may have been left unattended. A well-maintained home leaves less for buyers to question.
It is an easy thing to overlook but when selling a house, you know you will have more people on your property. Thinking about and eliminating safety hazards is a must. But in addition, you will want to make sure you have adequate coverage just in case one of your potential buyers falls or gets hurt in any way on your property. You don’t want to learn the importance of this after it is too late.
But wait, there’s more. Next week, we will continue with tips for selling your home at Lake of the Ozarks and mistakes to avoid regarding showing your home, not hiring a realtor, and not offering full disclosure. We just love seeing people buy their dream lake home, and we genuinely enjoy helping our clients close real estate transactions at the Lake of the Ozarks with no stress, and full confidence. If you are preparing for a real estate transaction, let Arrowhead be your advocate because we know better than anyone that accuracy really does matter.