Educating yourself about the home selling process is very important. Best practice tips and tricks will help you along the way but in order to fully prepare for a successful sale, you should also know what not to do.
Mistakes cost time and money. If you’re getting ready to sell your Phoenix home, here’s a look at a few common ones to avoid making:
#1 Not checking your emotions
Letting go is hard to do. As a homeowner, it’s natural to feel attached to the home you’ve made memories in. Letting go can be extremely difficult for sellers, and their families, but it has to be done.
The home selling process is challenging enough; allowing your emotions to influence important decisions only makes it harder on you and your chances for success. Remember, this is a business transaction.
Try your best not to judge potential buyers and their concerns. Be prepared for anything. If someone wants to negotiate about something as minor as a chip in the paint, be patient and hear them out. On the other hand, if someone wants to make an offer on the spot, calm down and stay cool. There’s still a lot that needs to happen before closing a deal.
Emotional sellers tend to overprice their homes. Instead of trusting the numbers generated by the market or advice of their agent, they get stubborn about value. Unfortunately, that doesn’t work with buyers. Most won’t even bother inquiring about a home that’s priced too high. If you have to, get online and look at other properties in the area and what they’re going for. Take advice from your realtor about price and don’t get offended if you think it’s too low.
Surround yourself with friends, neighbors and professionals you trust. Their support allows you to put your energy and attention into being a home seller!
#2 Selling As-Is
It doesn’t matter if your home is 5 years new or 50 years old. Preparing your home for sale takes a lot of work. If you think you can show the house to potential buyers without fixing, repairing and tending to home inspection issues, think again. When buyers are the ones pointing out a problem that you can’t explain, you’ve made a mistake. Dysfunctional appliances, faulty plumbing or missing shingles on the roof allow them to demand a work order or negotiate against the asking price. Either take care of the problem beforehand or be ready to defend your home’s as-is condition.
Repairs, cleaning and staging can be a big strain to the budget. Realistically, your home doesn’t have to be in better-than-new condition. It’s more important that you’re honest with buyers about your home’s condition. Avoid getting defensive and refusing to negotiate. Put yourself in their shoes. Would you want to purchase a Phoenix home with broken air-conditioning? Why should they?
#3 Assuming the sale
In a perfect world, your home sells quickly and for asking price. Assuming your home will sell at all is a mistake. No matter how hot the market or how successful the neighbors have been in selling their properties, you must respect the process. If you’re selling FSBO, beware the odds stacked against you. Only 9% of FSBO homes listed, actually end up selling.
The home selling process is dynamic. Overly confident sellers have a tendency to check the boxes and then sit back and wait. They price it, list it, show it and expect to sell it. If there is a lack of interest, they tend to do nothing. Don’t be a spectator and don’t bank of your expectations. You have to figure out what isn’t working and take action in order to move forward with the sale
Instead of assuming, start asking: Could I be marketing better? Should I lower the price? If months have gone by without serious interest you may want to consider alternatives to selling in the traditional buyers market.
Phoenix home sellers have options. Property Cartwheel can help you with your home sale. Give us a call to learn more about selling your Phoenix home fast!