Home Selling Tips
Someone that I had lost touch with had recently decided to sell her house. Because we’d lost touch, she was unaware of the fact that I work at a real estate agency. By the time I had spoken with her, she’d already found an agent. She complained about all sorts of things that went into selling and claimed that all of the people in her house were driving her crazy. It turned out that the agent she was working with suggested making some repairs to the house in order to get more money for it once it was put on the market. This is a very common occurrence in the real estate business, but her shock in the common practice had me thinking about everything that went into selling a house— especially the things that most people never think about. Most people only go through the process of selling a house a couple times in their life and are ill equipped to deal with everything involved in the sometimes arduous task of selling. Often this leads to mistakes that will most certainly cost them in the long run. These mistakes are, of course, preventable, but once you know what to expect, you can easily deal with them.
Not Using an Agent: There is a saying among lawyers— “He who represents himself has a fool for a client.” This is more or less the same when it comes to selling a house without an agent. True, there are many people who go the “For Sale by Owner” route and only some of them do well, but most don’t. When you sell a house, there are reports to be ordered, forms to fill out, and let’s not forget about opening escrow! All of that is before the house is even on the market! Obviously, I am biased as I work with agents everyday, but seeing everything they do for their clients, I would never want to deal with those things on my own as someone who doesn’t know much about how the housing market works.
Over or Under-Pricing Your Home: One of the biggest hurdles in selling a house is deciding on the listing price. If you go too high, chances are you’re not going to get many offers on it. Many things go into a house’s value. As someone who doesn’t know how the market works is more likely to go too high or too low. It’s an agent’s job to look at not just your house, but all of the other homes in the neighborhood that have recently sold. They also look at the schools and location as these tend to be the most important to people buying a house.
Failing to Leave Your Ego Out of It: A couple of months ago, I was searching for properties for one of our clients and I hit upon a result that wasn’t really for sale. I say that it wasn’t for sale because the owner was only interested in selling his house if he could get at least $5 million. While the area he lived in was indeed one of the more expensive areas in Silicon Valley, none of the other homes in the neighborhood were anywhere close to $5 million. The closest was somewhere near $2 million. Yes, your home if your castle, but that doesn’t mean that people would be willing to pay an exorbitant amount for it. Another part of this is to not let your nostalgia influence you. To you, the marks on the family room wall are a timeline of little Susie’s growth, but that doesn’t mean anything to your potential buys, so don’t be upset when they want to paint over them.
Not Disclosing Potential Issues: One of the most costly mistakes a seller can make is one that can come back to haunt them after the sale. That paperwork I mentioned above? This is a big part of that. Depending on where you live and how old your house is, there are many forms you need to fill out for everything, from the trees on the property to the lead paint (if your house was built prior to 1978) and smoke/carbon monoxide detectors. Not disclosing the fact that your house might have some structural issues or mold caused by an old leak us a big no-no and can lead to legal difficulties if the buyer finds out after the sale.
Failing to Make the Necessary Repairs: Like my friend, most people don’t realize that a big part of selling a house includes fixing it up first. It’s possible that you might not realize that there is anything wrong with it— mostly because when you live in your house day after day for yours, you probably don’t see all of the little things wrong with it. You’ve become accustomed to your home’s little quirks, but someone coming in and looking at it for the first time won’t see those things as nostalgic quirks, but as things that will make living there harder for them. Fixing those imperfections first makes it easier for everyone. Plus, whatever you’ve spent on repairs, you’ll make back after the sale.
Using Bad Pictures: When I first started as an agent, I had to take a course with the local MLS (Multiple Listing Service) about how to list a property on their site. One of the most important things they stressed was the quality of pictures used in the ads. As we looked at the pictures that were actually submitted with listings, those of us in the class couldn’t help laughing. There was one picture in particular that had a peculiar tint and we all joked about aliens living in that house. While we got a good laugh, this is not a reaction you want potential buyers to have. You want your pictures to look inviting. You want them to see themselves living in your house. It isn’t just weird tints, it’s also: crooked and blurry photos or those that featured messy rooms. Positive first impressions of your home are of the uttermost importance. If the pictures aren’t appealing, no one is going to give your house a second look.
Not Presenting the House at Its Best: Presentation is an important part of selling your house. No one’s saying you need to go full Danny Tanner, but you don’t want potential buyers to think that your house is an episode of Hoarders waiting to happen. Instead of thinking about how nice your house is and how much they’ll enjoy living in it, they’ll be worrying over the types of mold growing behind the walls and in your bathtub. Making sure that your house is clean before showing it is a much better option.
Not Staging a Vacant House: Lets face it, unless there is furniture in the house when you show it, most people will have a hard time imagining themselves in it. They don’t simply want to see a house, they want to see a home. If you don’t have extra furniture lying around, you can always use a staging company.
If you’re thinking that this all sounds like a lot of work, YOU ARE RIGHT. I can’t imagine what my friend would be going through if she went through the moving process on her own. Thankfully, she made the right decision to get an agent because without one, she would most likely be a bit of a basket case right now. If you’re reading this thinking that you’d be the same way, don’t hesitate to call. With the C21 Silicon Valley Realty Team, we’re with you every step of the way!
