Common Mistakes Sellers Make and How to Avoid Them - Part 1
When you sell your home the goal is to have a smooth transaction. One way to make sure this happens is to learn common seller mistakes and how to avoid them. This will bring you one step closer to acquiring multiple offers, selling in a timely manner, and for the right price.
Due to an increase in lending options, low interest rates, low inventory, and low foreclosure rates, homes sales are on the rise. That's fantastic news for sellers, but when you put your house on the market it can end up in one of two categories:
a. Homes that sell for above-asking sale price with multiple offers soon after they hit the market.
b. Homes that sit on the market for months without any offers or promising prospects.
All sellers hope their house will end up in the first category - One way to make sure this happens is by avoiding common seller mistakes. When you work with a qualified and skilled real estate agent you'll receive the best advice and services along the way.
GlocalHomes group is providing a blog series specifically dedicated to you - the homeowner! We are sharing with you all the common mistakes sellers make, and how you can avoid them, starting with the Top 5.
5 common mistakes sellers make, and how you can avoid them! ✨Part 1✨
1. Seller Never Ordered or Approved a Pre-listing Appraisal
Getting a Pre-Listing Appraisal by a professional appraiser ensures a proper list price. An appraiser researches appropriate market areas and analyses statistics and information about the property. An appraiser then provides unbiased opinions about the value of your property and works with sellers and agents to establish a list price. They may also give advice on pricing strategies.
You never want the buyer, buyers agent, or lender to tell you the value of your home. Just as you would take your car to get appraised prior to taking it to a dealership, you should do the same for your home. It's important you get your home appraised before it's listed. That way you know the true value of what your home is worth, and can work with your Realtor to establish a fair listing price.
2. Seller Never Ordered or Approved a Pre-listing Home Inspection
Its great to be able to disclose the current condition of your home to potential buyers. Having a professional home inspection completed before your home goes on the market is important because it covers the infrastructure of your home. Everything from foundations, roof, furnace, to plumbing, electrical, heating and insulation will be checked and assessed. Inspectors can be effective by uncovering the less obvious issues and work with you to properly evaluate the future buyer’s inspection report since many buyers will request their own home inspection.
If you have a home inspection completed prior to going on the market this allows you to repair any items that may cause issues, reduce the price of your home, or deter buyers. Leaving too many necessary repairs is one of the many issues that can prevent your house from selling.
After your home inspection is completed the inspector’s report can be available to potential buyers. This lets them know more details of the home and makes them feel reassured. In addition, many buyers may be willing to rely on your report and remove the home inspection condition in their offer. Having a home inspection also gives you more control over how you want to market your home.
3. Seller Never Ordered or Approved a Pre-listing Home Warranty
When you have a warranty on your home, all systems like plumbing, electrical, appliances, water heater, and AC are covered. When you have a warranty prior to listing, your home will be under warranty while on the market. It also conveys to the buyer your home is protected and they can include this warranty at settlement. Any remaining coverage can transfer to the new buyer as of the date of closing.
The buyer will also have the option to renew the same warranty at the end of the original contract term. As a closing agreement you can also choose to renew ahead of time in order to provide additional coverage to your buyer. Whatever you decide is the best option for you, having a home warranty provides reassurance to potential buyers.
4. Seller Never Ordered or Approved Pre-listing Title Work
A title work is an insurance product that guarantees that when the buyer buys a home they are acquiring it without anyone else having a claim to the property. When you do title work upfront, there will be a search of the history of the property's title to find any claim(s) against it. This will provide a report of anything that needs to be paid off so that the buyer gets a clear title and the seller won't have any obligations.
5. Seller Never Disclosed Pre-listing Appraisal, Home Inspection, Home Warranty, and Title Work to the Buying Public
If you have the pre-listing appraisal, home inspection, home warranty, and title work, you're off to a great start! We call this the Integrity package. Having these 4 tasks completed gives your home integrity on the market. Many sellers will not complete these pre-listing tasks, therefore your home will stand out among the rest. At Team Crumbz we make sure to upload these documents on the MLS and disclose this information to potential buyers and their agents. This shows them you're a prepared and motivated seller. Buyers can walk through your home rest assured knowing the value and condition of your home, that it's under warranty, and that there are no title issues. A great reassurance to provide!
Our Team do things differently than the average Realtor. We put together a custom marketing plan for your home. Our marketing campaigns get 100's of potential home buyers interested in your home before it even hits the market. We exceed our clients expectations, and take great pride in delivering a high level of service.
With our Team you will receive premiere services, and the highest level of customer service available in Fountain Hills, Cave Creek, Scottsdale, Paradise Valley, Phoenix Metro Area, and your neck of the woods.
We believe in providing “service beyond the sale.” Working with our clients is about more than a closing a deal. It’s about guiding them through the major life event of buying or selling a home, and negotiating the best outcome.
Download our helpful guide for things to consider when selling your house.
We hope these common seller mistakes will help guide you on the sale of your home. Be sure to keep a look out on our blog page for Part 2 of our blog series; Common Mistakes Sellers Make and How You Can Avoid Them.
Listing your property with us will give your listing the ❤️ it deserves.
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