Selling a home is no small task. It can be time-consuming, emotionally challenging, and anxiety-inducing, especially for first-time sellers. But despite that, many sellers choose to forego working with an agent to avoid paying the agent commission. And that’s often a costly error because sellers going it alone typically make some big mistakes in such a complex and large financial transaction. To help you avoid falling into that trap, we offer these 3 major mistakes homeowners often make when selling their house without a New Jersey real estate agent.
1. Pricing Too High
Probably the worst mistake homeowners often make when selling their house without a New Jersey real estate agent is pricing too high. The importance of setting the right asking price can’t be overstated – it is key.
“Absent a housing bubble, overpriced homes generally don’t sell.” In one survey, “70% of real estate agents said that overpricing is the top mistake that sellers make.” Then that overpriced house will sit on the market unsold for a time, and when that happens, buyers will assume something is wrong with the home because it hasn’t sold. The end result may be the buyer has to accept a low price just to make a sale.
The problem, here, is that homeowners selling their house often think it is worth more than it actually. They price according to what they think it is worth, but market value is actually determined by what buyers are willing to pay for that kind of house in that market.
This is why it’s so important to work with an experienced New Jersey agent. An agent can perform a comparative market analysis to determine your home’s market value, and then you can price accordingly. And when do get an offer, your agent will likely be able to negotiate a better deal. To discover more about this, just call (908) 320-7995.
2. Getting Emotional and Ignoring Emotion
Another of the mistakes homeowners often make when selling their house without a New Jersey real estate agent involves the emotional aspect of it.
Sellers, especially first-time sellers, usually have a strong emotional attachment to their homes. It may be, after all, the place where they have lived for many years and raised a family. But this can easily lead to problems such as thinking the home is more than it’s worth and subconsciously undermining a sale.
“When you decide to sell your home,” industry pros advise, “start thinking of yourself as a businessperson and salesperson rather than just the homeowner. In fact, forget altogether that you’re the homeowner. By looking at the transaction from a purely financial perspective, you’ll distance yourself from the emotional aspects of selling the property.”
Another way emotion can be a problem is that it makes it difficult for sellers to see things from a buyer’s perspective and take into account her emotional investment. “Most buyers will also be in an emotional state. If you can remember that you are selling a piece of property as well as an image and a lifestyle, you’ll be more likely to put in the extra effort of staging and doing some minor remodeling to get top dollar for your home. These changes in appearance will not only help the sales price; they’ll also help you create emotional distance because your home will look less familiar.”
3. Not Getting Professional-Quality Listing Photos
Many homeowners, when selling their house, fail to get those absolutely critical professional-quality listing photos. They just snap some quick haphazard photos with their phone and let it go at that. But that won’t cut it today.
“Because so many buyers look for homes online these days, and so many of those homes have photos, you’ll be doing yourself a real disservice if you don’t have high-quality visuals of your home. At the same time, there are so many poor photos of homes for sale that if you do a good job, it will set your listing apart and help generate extra interest.”
You need crisp, clear photos “taken during the day when there is plenty of natural light available. They should showcase your home’s best attributes. Consider using a wide-angle lens if possible – this allows you to give potential buyers a better idea of what entire rooms look like. Ideally, hire a professional real estate photographer to get top-quality results.”
Why You Need a New Jersey Real Estate Agent
Most homeowners selling their house should work with an experienced New Jersey agent even if they think they can avoid making these mistakes.
“A good agent generally has your best interests at heart. [She] will help you set a fair and competitive selling price for your home, increasing your odds of a quick sale. An agent can also help tone down the emotion of the process by interacting with potential buyers and eliminating tire kickers who only want to look at your property but have no intention of making an offer.”
In addition, an agent will “have more experience negotiating home sales, helping you get more money than you could on your own. If any problems crop up during the process, an experienced professional will be there to handle them for you.”
Considering all that an agent can do for you, that commission is a bargain. Don’t be one of those homeowners who make mistakes selling their house without a New Jersey real estate agent – contact us today at (908) 320-7995!