Avoiding Pitfalls when Selling your Home

First time home sellers often make lots of mistakes, but most can be avoided with advance planning and knowledge of what to expect.
Not detaching yourself.
You’ve decided to sell, so it is time to start thinking of your home as a product, by looking at it from a financial perspective. Put yourself in the shoes of potential buyers, and think about minor changes and improvements that will appeal to their emotional, buying state. Set the stage for people to be able to envision themselves living in the home and making memories for their family, and you’ll bring in maximum profit for yourself.
Not getting help.
Selling without an agent is possible, and it will save you 5% to 6% of the sale price of your home. Selling on your own means that you are totally responsible for the sale; taking the calls, answering questions, setting appointments, showing the house, negotiations, and the mountain of paperwork that goes along with a home sale are all tasks you’ll need to handle.
A good real estate attorney will be able to offer some guidance through the sale, as well as take care of all the necessary documents. If you feel comfortable showing the house and talking with potential buyers, you may be able to sell by owner with your attorney’s assistance.
On the other hand, a real estate agent can help in a number of ways. Setting a competitive price increases the chance that it will quickly sell, and no one knows the market better than someone who works in it each day. Another service agents provide is qualifying customers for you. They know the questions to ask to be sure this isn’t a tire kicker, and will do some preliminary screening about the potential buyer’s financial situation so there are no surprises later. Agents also have lots of experience negotiating sales and seeing them through to close, and often know how to handle any problems that crop up to keep the sale on track.
Trying to be Cheapr
Many people decide to go it alone to save the agent’s commission, and this is fine as long as you’ve done your homework. Be sure to get prices on recently sold homes in your neighborhood before setting your price. Also, take into account those that are currently on the market, which are your competition. Set your price a little above what you will ultimately sell for, to give the buyer some wiggle room.
Marketing is an area where you want to spend the money. Your house could be the best bargain on the planet, but if nobody knows about it, you’ll never sell. Experts estimate you should spend from 1% to 3% of the asking price for advertising. Especially important is listing on the local MLS (multiple listing service) because this will broadcast your listing to a wide audience and bring the most traffic. Take many pictures of your home, showing it in the best light, to enhance your listings.
Timing is everything
The best time to put your house on the market is spring, especially if it’s located in an area with great schools. Families tend to move during summer vacation so that the children can start at their new school in September. You will get more people out to see your home, and more potential buyers, in the spring and summer months.
Avoid selling during the winter. Not only is it cold, but most people have a full social calendar, especially close to the holidays. Who wants to consider packing and moving around Christmas? There will definitely be fewer buyers looking during the winter. On the plus side, those buyers who brave a blizzard to come look at your home may be quite serious about making a purchase quickly.