Curious about the worst mistakes when you try to sell a house in Pitman, NJ? If you’re a prospective home seller, you might be wondering what you can do to ensure a successful home sale.
Most home sellers have two goals for their sale: sell fast and earn top dollar. But accomplishing these goals can seem impossible in a housing market affected by inflation, high interest rates, and concerns about a potential recession.
To achieve a fast and profitable sale in a competitive market, it’s essential to avoid the common pitfalls that home sellers often encounter. In this article, our experienced realtors at Your Home Sold Guaranteed Realty - Nancy Kowalik Group will share some advice on how to avoid common mistakes in the home-selling process.
What Mistakes Should You Avoid When You Try to Sell a House in Pitman?
Don’t Use Low-Quality Photos and Videos
Using high-quality photos and videos in the listing for your home is essential. The visual presentation of your property is crucial in capturing buyers’ interest. Home buyers are browsing hundreds of listings online, so it’s important for you to make sure your home stands out and presents a strong first impression.
To this end, you’ll need to invest in a professional photographer. Your realtor will likely have trusted photographers they can recommend. In fact, some realtors may even cover the cost of a photographer as part of their marketing strategy. It’s worth discussing this with your realtor and exploring the options available.
If you prefer to find your own photographer, take the time to review their portfolio and assess the quality of their work. Look for photographers who have experience capturing the best features of homes and use technology to get unique angles– like drone photography.
Don’t Allow Emotions to Influence Negotiations
A mistake that home sellers don’t expect is letting their emotions influence them during negotiations. This commonly occurs after receiving lowball offers from potential buyers.
No matter what, it’s important to separate yourself from your home and remain business-like. Remember that it’s common for buyers’ initial offers to be below the asking price.
Buyers don’t give a lowball offer as a reflection of your home’s perceived value. Instead, they usually start with a lower offer because they want to gauge the possibility of negotiation.
As a seller, you have the option to hold firm on your asking price or consider coming down on the price if you find it appropriate. If you prefer not to lower the price, you can explore other ways to accommodate the buyer’s concerns and enhance the overall appeal of the deal. This could involve offering concessions or incentives to sweeten the offer and make it more enticing for the buyer.
Regardless of the approach you choose, it is vital to evaluate and respond to every offer objectively, without taking it personally. By maintaining objectivity, you can engage in effective negotiations and make decisions that align with your selling goals and financial objectives.
Don’t Hire An Average Realtor
Choosing the first realtor you encounter can leave you stuck with an inexperienced, ineffective realtor. Many realtors claim they can sell your home fast and for top dollar. But it’s important to recognize that not all realtors possess the same level of expertise and capabilities, especially in a turbulent housing market.
Every realtor 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 and its historical patterns.
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.
Don’t Forget to Budget 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.
Don’t Skip Investing in 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 Pitman.
Consider market trends and consult with a real estate professional to determine which renovations will have the most impact and yield the best results.
We Can Get You Top Dollar For Selling Your Home in Pitman, NJ
If you want to try to sell a house in Pitman, 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 Pitman 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 Pitman. 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.