Selling a home is a big milestone and one that can be slightly challenging. Obviously, your main goal is to sell your home for the best possible price in a reasonable amount of time. This can be tough if you’re new to home selling.
Even experienced home sellers can make mistakes that can end up costing them down the line. It helps to know what those mistakes are so that you can avoid them and make the home selling process go as smoothly as possible.
If you’re planning on selling your home in the Durham Region of Ontario, these are some of the biggest mistakes that people make when selling their home. Avoid these pitfalls and you can save yourself a lot of stress.
Pricing Unrealistically for the Current Market
One of the most crucial elements of selling a home is setting the right price for the current market. You want to make sure that your first asking price is in line with what people will realistically pay.
Price your home too low and people may wonder what is wrong with it. Price it too high and your home might not sell for months, which will also cause people to be suspicious. The last thing you want to do is lower your price later to below market value.
The ideal asking price depends on whether your area is currently experiencing a buyer’s or seller’s market and what the comparative market value is in your particular neighborhood. It also depends on the condition of your home.
For example, a home in Ajax might sell for more than a home for sale in Bowmanville even though they are similar sized properties. Two condos for sale in the same building in Oshawa might sell for different prices if one has been remodelled and the other has never been upgraded.
An experienced real estate agent can help you determine how much your home is worth. A trustworthy agent will be honest with you about what you can expect to get for your home and help you set a price that will generate interest and offers.
Neglecting the Condition of Your Home
You only get one chance to make a first impression, so you want to make sure that your home looks its best for potential buyers. It is important to make sure that your home is clean, decluttered, and major issues are addressed.
One of the easiest things you can do to make your home attractive to potential buyers is do a deep clean and some home staging. Buyers should be able to envision themselves in your home and feel good about moving in.
Take the time to fix minor issues that could put off a potential buyer. For example, leaking faucets, broken windows, and cracked cabinets. A fresh coat of paint can go a long way towards making your home look more inviting.
Major issues also need to be addressed. Home sellers in Ontario are required by law to disclose any latent defects that make the home unsafe or uninhabitable. A home inspection can help identify any problems that could bring down your asking price.
Not Marketing Your Home Properly
You may have a beautiful home in great condition and at the right asking price, but it won’t make a difference if you can’t get it out there in front of the right buyers. This is a common problem for many people who decide to go the For Sale by Owner (FSBO) route.
Listings are important for getting eyes on your home. A good listing should have clear photographs that show off your home’s best assets. Listings should also have sufficient information to entice and inform potential buyers.
Anyone can put a home for sale listing up on the internet, but it may get lost in the slew of other home listings in your market. A real estate agent can help you stand out from the crowd with a custom marketing plan.
The local Durham Region real estate agents at the Dan Plowman team will take into account your homes’ best attributes and present them in the best way possible. We have multiple methods of getting your listing in front of serious buyers who are looking for homes just like yours.
A real estate agent can also take care of everything from home showings to negotiating offers and taking care of the closing paperwork to make your home selling experience more seamless.
Interested in learning more about selling your home in the Durham Region? Contact us online or call us at 905-668-1511 to speak to our real estate pros today!
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