Thinking of about selling your home? If this is your first time going through the selling process or 100th time, you may be wondering just how well things are going to go. Selling a home is normally a smooth process (Especially if you have Taylor Realty Group on your team)– there are thousands sold every day – but things can quickly go awry if you aren’t paying attention. Let's get to those 4 mistakes!
1. Trying To Sell Without Experienced Representation
The first and most significant mistake that some first-time sellers make is to try to go it alone. And I’m not just saying this because I’m a real estate agent and broker…I knew this years ago when I bought my first house right out of college! Selling a house is a major financial and legal transaction and one where experience is crucial in getting things right. Invest in an agent who has a track record for quick, efficient sales and you're going to have an advantage.
2. Choosing Emotion Over Reason
Next, you'll want to avoid letting your emotions control how you react or respond during the selling process. Many homeowners become emotionally attached to their homes, which is fine while you're living there, but can be a problem when you're selling. It's important to let logic and reason guide the sale. Don't let yourself get caught up emotionally or you may make a critical mistake. Having an experienced agent, can help you logically and objectively by working with the buyer to keep cool when things tend to get heated. There are many times when both parties disagree, and you need an agent to help resolve issues that will come up.
3. Pricing Outside Of A Realistic Range
Asking too much – or too little! – for their home is another common mistake made by first-time home sellers. It's critical to understand that the local real estate market has a lot of influence on the correct asking price for your home. Current listings and recent sales of similar homes in the area tend to set a price range in the minds of buyers, so these will need to be observed. I will be a big help in choosing the right sale price. I will give you a price range that I believe will help you sell fast (if you’re in a hurry) or maybe test the waters (if you have time to spare). I will show you comparable homes that have sold so we can come up with the price that is right for you! I totally understand why a seller would want to try to sell it on their own, but since Mississippi is a non disclosure state (this means sold prices aren’t disclosed to the public), there is a good chance you are underpricing your home, and any “savings” you might realize from not hiring an agent are lost anyway.
4. Selling At The Wrong Time
The final mistake we'll cover today is listing your home for sale in the wrong environment. CAVEAT – This doesn’t necessarily apply to our COVID post pandemic short supply times…but normally, the local real estate market is in constant state of change due to a variety of factors. The seasons, other local home listings, interest rates, new home construction, and all sorts of other factors can influence your sale. Unless you are under a time constraint, it's best to let your agent advise you when it's a good time to list your home.
To sum it up, Selling your first home can be a daunting experience, but with the right frame of mind and professional representation, it will go smoothly. To learn more about the home selling process or to list your home for sale, contact us today. Our real estate team is happy to assist.
We are always ready to give you our professional estimate on the value of our home.
Visit www.taylorgroupms.com for more details!
