If you want to try to sell a house in Blackwood, New Jersey, you’ll need to have a comprehensive strategy. Selling a home can be difficult, particularly if you have limited experience in real estate transactions.
But this is even more the case in a housing market strained by inflation, high interest rates, and concerns over a future recession. These types of conditions are pushing home buyers out of the market and causing home sellers to have to lower their asking prices.
If you want to sell your house fast and for top dollar in a tough market, you’ll need to know what mistakes to avoid during the process. In this post, our realtors at Your Home Sold Guaranteed Realty - Nancy Kowalik Group will discuss five of the worst mistakes home sellers often make.
Avoid These 5 Mistakes When You Try to Sell a House in Blackwood
Hiring an Inexperienced Realtor
Hiring the first realtor you come across can lead to a poor outcome for your home sale. Nearly every realtor claims they can sell your home fast and for top dollar, but the truth is not every realtor is created equal.
Every realtor has varying skill sets that may excel in certain areas but not others. In a tough market, you need to prioritize working with an experienced realtor who is deeply familiar with the ins and outs of the housing market.
To find the best possible realtor, you’ll need to interview at least three to five agents before deciding on one to work with.
During the interviews, ask each agents about their:
- Years of experience
- Local market knowledge
- Marketing strategies
- Track record
- Average selling speed
- Number of homes sold in the past six months
- Average list-to-sale price ratio
This information can help you make an informed choice and find an experienced realtor who can help you sell fast and maximize your profits, even in a cold market.
Not Planning For All Expenses
Home sellers can underestimate the expenses they will incur during the selling process, including the costs of purchasing their next home. To ensure a smooth home sale, it’s crucial to establish a well-defined budget from the start.
When creating your budget, consider the following expenses:
- Purchasing your next home: Take into account the down payment required for your new home, as well as the associated closing costs. Additionally, factor in the costs of packing and moving your belongings to the new property. Remember to include any additional fees or expenses related to homeownership, such as property taxes or HOA fees.
- Home repairs and renovations: Expenses associated with necessary repairs, renovations, and enhancements to prepare your home for sale. The extent of these costs will depend on the improvements you choose to make.
- Closing costs: As a home seller, you’ll be responsible for covering the majority of the closing costs in a real estate transaction. This includes commissions for both your listing agent and the buyer’s agent.
Not Improving Your Home
Some home sellers might be tempted to leave their homes on the market as-is to save money on repairs and renovations. While you can choose to do this, investing some time and effort into your home ultimately pays off in the long run, especially in a cold market.
Your home will be competing for buyers’ attention against hundreds of other resale homes as well as newly constructed homes. For this reason, consider making at least small upgrades to lighting fixtures, hardware, and flooring, or adding new paint to the walls.
If you can afford to, renovating high-traffic areas like the kitchen, bathrooms, and living room can be beneficial. By enhancing these important spaces, you can make a positive impression on potential buyers and increase the overall value and appeal of your home.
Investing in key upgrades is a strategic move that allows you to ask for a higher asking price for your home. You’ll be able to attract more buyers and maximize your chances of success when you try to sell a house in Blackwood.
Consider market trends and consult with a real estate professional to determine which renovations will have the most impact and yield the best results.
Failing to Use High-Quality Photos and Videos
High-quality photos and videos are crucial. Most home buyers browse listings online, so the photos you use in your listing must show off your home’s best features.
Many realtors have a photographer they recommend using, and they’ll also cover the cost from their commission as part of their marketing strategy.
If you’re searching for your own photographer, be sure to check out their portfolio and the quality of their work.
Letting Emotions Influence Negotiations
Lastly, another common mistake home sellers should avoid is not remaining objective when they receive a lowball offer from home buyers. You should expect the first offer from a buyer to be lower than the asking price.
This isn’t because the buyer thinks you’ll actually agree to this amount– usually, they just want to see if there’s any room for negotiation. You have the option of sticking firm to your asking price or offering to lower it slightly.
If you don’t want to lower it, you can always add in some concessions to sweeten the deal for the home buyer.
But overall, it’s important to evaluate and respond to every offer objectively, and not take it as a personal attack against your home.
Sell Your Home Fast and For Top Dollar With Our Real Estate Experts
If you want to try to sell a house in Blackwood, it’s important to have a pricing and marketing strategy. This is where a real estate team like Your Home Sold Guaranteed Realty - Nancy Kowalik Group comes in.
Our realtors have been working in the Blackwood area for years and have developed a reputation for our selling speed. On average, we sell homes 48% faster and for 2.4% more money than our competitors.
Our success is why clients know us as the best realtor in Blackwood. Clients also love working with us because we go the extra step of guaranteeing the sale of your home through our seller guarantees.
This includes our Guaranteed Sale Program, which ensures your home will sell within your desired time frame. If not, our team will buy it ourselves.
To learn more about working with our real team, give us a call at (856) 478-6562. You can also fill out the form below for more information.