Selling your home in the Breckenridge-Frisco area is exciting and kind of terrifying at the same time. We all wish that transactions would go easily and smoothly but unfortunately, there are a lot of things that could go wrong. An experienced real estate agent can guide you through this process but let’s look at some of the most common mistakes that sellers make.
Not Pricing Your Home Correctly
Overpricing is probably the biggest and most common of the mistakes that sellers make. We all have emotional attachments to our homes and sometimes this means we believe our home is worth more than it actually is. It’s important to remain objective so you can avoid negative consequences. When a home is overpriced it could sit on the market for much longer than you want it to and sellers could miss out on serious buyers when turning down their offers.
On the other hand, underpricing your home is also something you want to avoid. You don’t want to miss out on thousands of dollars worth of profit either! Finding the right price for your Boulder home can be difficult and you’ll need an experienced real estate agent to give you an accurate value. If you’re planning on selling and want to know how much your home is worth, I can give you a free Home Estimate, just follow this link.
Not Paying Attention to the Market
How the real estate market is doing is always going to have an effect on the sale of your home. Timing can mean everything. Currently, inventory is lacking in our market. This means now would be a great time to sell your home! Keep in mind that this hasn’t always been the case and could change. Even if you’re not planning on selling your home right now, it’s a good idea to keep your finger on the pulse and know what’s going on in your area. Understanding the real estate market can be confusing. I produce a monthly Market Report to keep my clients informed of what’s going on. You can get my latest Market Report and newsletter here.
Choosing the Wrong Agent or WORSE – Not Using an Agent
Another of the common mistakes that sellers make is not using an agent. Listing your home FSBO (For Sale By Owner) is something I will never recommend to a seller. A real estate agent’s specific skills are indispensable when selling your home and will make you more money in the long run. They will negotiate with buyers on your behalf and a good local Realtor will know the market and develop a good pricing strategy for you. If you want to sell your home for the highest possible price, use a Realtor, and don’t try to list your home on your own.
It’s also important that when you decide to use an agent you are choosing the right one! You want to find someone who you can trust and who has the right credentials, experience, and expertise. It’s important that you can work well together and you need to match in personality as well. Selecting the right agent for you is an essential part of the process and it may take some time. A lot of sellers don’t really know what to look for or what to ask. Some of the most important questions are about experience, qualifications, and how they work. You may also want to clarify how you prefer to communicate or ask for references and testimonials.
It’s also important to remember that failing to communicate with your agent, mainly in reference to questions regarding the property, can prolong the selling process and make you miss out on potential buyers. Be sure that you fully disclose any material defects or recent construction on the property as well. A well-informed agent can advocate for you more effectively.
Not Adequately Preparing Your Home For Sale
There’s a lot that goes into preparing your home so it is ready for showings. The major tips are to declutter and deep clean your home. Too much furniture or junk will make a space feel smaller than it actually is. You will also want to fix any major issues because they tend to turn off buyers. However, large renovations aren’t recommended as these are often personal and don’t always reflect well in the purchase price.
The idea is that you want a home to feel like a neutral space that buyers can imagine themselves in. You want the home to be decorated, but not with decor that is too taste-specific. The goal is for your home to appeal to as many people as possible and make a great first impression. Staging is a great way to achieve this and often helps homes sell for a higher price.
Underestimating Selling Costs
A lot of sellers only think of the real estate agent commission as the additional cost that comes with selling a home in the Breckenridge-Frisco area. However, there are many other costs that are associated with the sale and closing of a home and you need to be prepared for them. Your real estate agent will be able to give you the most accurate estimates for costs. But a few things you should prepare for are closing costs, home inspection repairs, staging costs, and moving costs.
The sale of any Breckenridge-Frisco area home can be stressful. This is a complicated transaction but you can avoid a lot of additional worry and heartache by avoiding these common mistakes. Truthfully, having the right real estate agent by your side to guide you through this process will make all the difference. They have the experience and expertise you need to avoid any of these missteps. My goal as a Realtor is always to give my clients the smoothest transaction possible and that includes helping them dodge any of these pitfalls!
How Can I Help?
I hope that you’ve found this information helpful and that it will help you avoid some of these common mistakes that sellers make. If you want more information on what the Breckenridge-Frisco area Real Estate Market is like right now don’t hesitate to reach out. My goal is to provide my clients with relevant and up-to-date information that pertains to the local area and real estate topics.
Coldwell Banker Mountain Properties