When the real estate market runs low on inventory, home sellers are in the best possible position. It doesn’t mean, however, that there is no work to do when listing your home. Assuming that the market will sell your house for you means potentially missing out on getting the best price or having your house list for longer than necessary. While Nashville homes are selling quickly, these are still the top mistakes home sellers make in a hot market.
The fact is many homeowners overvalue their home. When it comes time to sell, they hear about how fast homes are selling and think they can list their home for far more than they will eventually get. The bottom line is your home will sell for for what comparable properties in your area are selling for and the appraised value.
If your home has maintenance issues that are not taken care of prior to listing, expect buyers to ask for money off the list price. Buyers will be looking for ways to negotiate on the price and neglected repairs are an easy target. Usually, fixing the homes flaws in advance costs less than what is lost during the negotiation.
If your home has serious flaws: mold, termite damage, etc these are definitely going to come up during the home inspection. These are also potential deal breakers so fixing them in advance will yield much higher payoff in the end.
Just because there is little competition on the market, doesn’t mean your house should be seen in anything other than its best condition. Messy, dark, crowded rooms show poorly and tend to leave a bad impression on buyers. Take the time to get your house show-ready and highlight all of its best features.
Most home buyers expect at least a little wiggle room in the listing price. Again, this is why it’s important to accurately price your home initially. If your home is priced correctly in a tight market, home buyers may offer the full price so they don’t lose out on the house. But, if the home needs repairs or is listed too high home buyers will certainly try to negotiate. The negotiation is a normal part of the real estate process and is not meant to be taken personally. Working with an experienced agent is extremely beneficial during this stage!
Study after study indicates the value of working with the right REALTOR. Homes without a REALTOR consistently stay on the market longer and sell for less. Equally important though is having an experienced REALTOR who understands your market and the home selling process in its entirety.
If you need an experienced REALTOR to help you buy or sell a Nashville home right now, call DeSelms Real Estate today at 615.550.5565 to speak with one of our award winning agents!