Considering selling a house in Deptford? If you want to try to sell a house in Deptford successfully, you’ll need to be aware of the potential pitfalls you may encounter in the process.
Selling a home, especially if you’ve never sold one before, can be challenging. This is especially the case in a turbulent housing market when high interest rates, inflation, and other economic concerns are scaring away buyers.
In this post, our realtors at Your Home Sold Guaranteed Realty - Nancy Kowalik Group will discuss several mistakes that home sellers typically make in the home-selling process. By taking steps to inform yourself about selling a home, you’ll be able to make informed decisions and maximize your chances of a successful sale.
Top 5 Mistakes When You Try to Sell a House in Deptford, New Jersey
Not Considering All Costs
Selling a home is a significant financial transaction. Many home sellers underestimate exactly how much they’ll need to spend, not to mention the cost of purchasing their next home. For this reason, the first step you should take before starting your home sale is establishing a proper budget.
Take into account the following expenses:
- 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.
- Purchasing your next home: Consider the down payment, closing costs, packing, moving, and any additional fees or expenses associated with homeownership.
Being well-prepared financially will help you navigate the home-selling process with confidence and achieve your desired outcome.
Not Investing in Renovations
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 Deptford.
Consider market trends and consult with a real estate professional to determine which renovations will have the most impact and yield the best results.
Hiring the First Realtor You Find
The top worst mistake home sellers often make is hiring the first realtor they come across. While every realtor claims they can sell your home fast and for top dollar, the truth is this isn’t always the case.
Every realtor has varying skill sets that may excel in certain areas but not others. That’s why it’s essential to interview multiple realtors– ideally three to five– before hiring one.
During the interviews, ask about the agents’ experience, local market knowledge, marketing strategies, and track record of success. When assessing their track record, look at specific statistics such as their average selling speed, the number of homes sold in the past six months, and their average list-to-sale price ratio.
By gathering this information, you can make an informed choice and find a realtor who is the right fit for your needs.
Not Investing in a Professional Photographer
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 Get the Best of You in 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.
Our Guarantees Make it Easy to Sell Your Home Fast
If you want to try to sell a house in Deptford, 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 Deptford 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 Deptford. 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) 230-7077. You can also fill out the form below for more information.