The 5 Don’ts of Selling Your Home
Selling your home is an emotional process. . .
There are plenty of steps you can take to sell your home as smoothly and quickly as possible, and for the right price.
We encourage you to do your own research and ask as many questions as you can throughout the process.MORE INSIGHTS
June 24, 2021
1. Don’t get emotionally invested
Asking someone to completely detach themselves from the sale of their home is nearly impossible, but it is worth mentioning to try your best to not get overly emotionally invested. Saying goodbye to your current home means you are opening the door to a new chapter in your life.
Try to reframe the sale of your home as purely a business transaction. Keep yourself focused by making a list of all the “to-do’s” that need to be done throughout the process, and tick them off as you go.
2. Don’t choose your realtor without careful consideration
Put your realtor through an interview process – there’s nothing wrong with this. Find a realtor that suits your needs and who you think you’d be compatible with. You may end up working with them for an extended period, depending on how long your home is listed on the market for.
Don’t be shy to ask questions like:
- How long have you been a realtor for?
- Is your realtor commission negotiable?
- Do you have any other properties listed in the area that may be in competition with our listing?
It’s O.K. to be picky when choosing your realtor.
3. Don’t price your home too high
Overpricing your listing can be extremely detrimental to the sale of your home. We understand that you want to get the best bang for your buck, but knowing how much your home is crucial for negotiation power and so you don’t scare off potential buyers. Do your research, ask your realtor to send you comparable properties in your neighbourhood and have a realistic understanding of the market that you’re selling your home in.
4. Don’t expect the asking price
It’s important to set realistic expectations for yourself when it comes to reviewing or accepting an offer.
Most buyers will not submit a full price offer, which is why your realtor should list your home at an asking price that incorporates room for negotiations. Try your best to not take a low offer to heart, as it is not a reflection of your home. On the other hand, expecting a full price offer is unrealistic and may keep your home on the market longer than it needs to be. Remember, as the seller, you have the power to negotiate and submit a counteroffer. If the potential buyer is interested, there is a high chance they will improve their offer.
5. Don’t underestimate the costs of selling your home
Yes, it costs money to sell your home. Where are these costs coming from? You must take into consideration: realtor commissions, closing costs, potential repairs, staging costs, and other buyer concessions.
Make sure to factor the costs of selling your home into your selling plans.
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