Whether you're moving up to a larger home, downsizing or relocating, selling your home can be both stressful and rewarding. If you've been through the process before, you may think you're ready to take on the home-selling procedure on your own, but even seasoned sellers can make mistakes that impact their bottom line.
Here are three mistakes to avoid when selling your home:
- Not understanding the current local and hyper local real estate market. Housing markets differ widely even within the same city or suburb. Sellers need to understand how much other homes of comparable size and age have sold for, how many other similar homes are on the market, how long they stay on the market, and what features buyers are looking for in your area. In addition, there are several other potential factors such as upcoming developments or community changes that may impact values.
- Not understanding the importance of pricing right from the start. Pricing your home right from the start results in more showings, more offers, and ultimately more money for your home. However, it is an art that requires expertise, in-depth research, and old-fashioned street smarts. Price too low, you risk not getting as much as you can for your property. Price too high, you risk losing potential buyers who may think your property is out of their price range, meaning you simply help your competition sell faster.
- Not understanding the power of staging. Staging helps buyers visualize themselves living in the space, creating an emotional connection that can lead to quicker and more favorable offers. Staged homes normally sell faster than non-staged one. Investing in staging can yield a significant return. Data indicates that with an average investment of 1% of the sale price into staging, about 75% of sellers saw an ROI of 5% to 15% over the asking price.
Thinking of selling your home but unsure about the market? Let’s connect! Our team is ready to turn your real estate dreams into reality. Contact The Fisher Group today to get started.
Fisher Yu
📱 647.598.8488
📞 877.539.3229
✉️ [email protected]
🔗 Thefishergroup.ca
Avoid these mistakes, partner with a real estate professional today.
According to the NAR, 91% of sellers partner with a real estate professional to sell their home. From market
expertise, negotiation skills, representation to paperwork and reducing risk – working with a real estate
professional is the sing best decision you can make when selling one of your most valuable assets.
