What Every Seller Needs to Know About Selling a Home

Dated: 02/13/2020

Views: 170

When it comes to selling a home, there’s nothing like good old-fashioned preparation. 

From completing that honey-do list, to researching the best agents in town, there are plenty of ways to get started early on making your home sale a success. Here are a few things you should know about selling a home this year. 

That tiny spot of wood rot that no one will notice? Well, buyers WILL notice. 

We all have small imperfections in our homes that we hope nobody notices, whether that’s a “ghost door” that opens on its own, or a tiny patch of paint on the corner of a carpet. 

And while some of these things truly are no big deal, you don’t want to bank on buyers not noticing them. 

According to data from HomeLight’s Top Agent Insights Survey Q4 2019, real estate agents are seeing buyers request more repairs than in the past. In fact, the agents surveyed cited that as the second biggest challenge for sellers in 2020.

To prevent unexpected repair requests from derailing your closing timeline, there are a few things you can do. 

First, complete as many repairs as possible before you list your home. That includes any major ones, of course, but it should also include minor ones, like removing paint from carpets, repainting the most-trafficked rooms of the home (usually the kitchen and living room, and possibly the master bedroom), and repairing any minor bumps and scratches on baseboards or door frames. 

Second, you can ask your agent to negotiate a repair credit for the buyer, rather than complete the repair yourself. This way, you can continue moving toward closing on time, while also avoiding any issues from a buyer not being happy with the repair provider you hired. 

Your local real estate blogs can offer valuable information. 

As you’re preparing to sell your home, it can be helpful to get an idea of what the local market is like, what trends local agents are seeing, etc. 

Your local real estate blogs are an excellent way to learn this information, especially if you haven’t yet hired an agent. 

These blogs will give you good ideas on what to do to get your home ready to sell, as well as ways you can help reduce the time it stays on the market. They’ll also connect you with great local resources like home stagers, real estate photographers, and of course, real estate agents. 

Remember that when you’re pricing your home, you’re probably valuing it higher than what it’s actually worth.  

Your home is worth a lot more than money to you. After all, you spent years of your life there. Maybe you got married while living in that home, or it’s where you brought your first new-born. 

Those are wonderful memories to be cherished—but they don’t actually add to your home’s value when it comes to buyers. Sellers tend to want to overprice their homes because they either are mistakenly adding in sentimental value to the price, or they think that starting high and coming down is a winning strategy. 

However, overpricing will only hurt sellers in the long run. You’ll give potential buyers the idea that you’re unreasonable or greedy, while also turning away people who would have been interested in your home had it been priced correctly. 

What’s more, continual price cuts don’t look very good to buyers. If you have to keep slashing your price in order to get showings, buyers are going to start wondering what’s wrong with the home and why it isn’t selling. 

By taking this information into account as you prepare to list your home, you’ll be well-prepared for a quick and easy home sale. Happy selling!

Blog author image

Pam Smith

I love real estate and since 2001 have been committed to my profession and my clients. I work very hard to live up to my slogan: "Common name...Uncommon service!" Year after year, I am a consistent to....

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