Denver Seller Mistakes That Ruin Sales
When you make the decision to sell your Denver home, chances are you’re looking for a relatively quick sale at a good price. There are things that you can do to generate interest and encourage a quick and lucrative sale. However, there are also mistakes that can cost you a sale. Check out the most common mistakes a Denver seller can make that ruin deals.
Listing “For Sale By Owner”
Initially, selling “for sale by owner” may seem like a great idea because you can put a sign out front and save money on a real estate agent’s commission. This scenario is virtually never reality. In addition to putting out a sign, you have to effectively price, market and show your home. Additionally, just as you expect to save money on commissions, so will your buyer. A Denver seller may get the same price as using an agent, but the homeowner then does the work and must know all the disclosures. Generally speaking, the Denver seller gets less than if they had listed it for the open market to see.
Not Thoroughly Researching Agents
Once you have made the decision to list with an agent, your decision making work is far from done. The real estate agent you hire can make or break a great deal, and as such, you want to be sure that you have put research and thought into who you trust with your sale. Always look for an agent that is familiar with your local market, your neighborhood and comps in the area. Ask friends or family for recommendations, but remember to do your own homework before you sign any contracts.
Overpricing
If you know your Denver neighborhood is selling well and you’ve put a significant amount of money into improvements and upgrades, you may assume you can list at a price that will return all of the money you poured into your property. Making this assumption is dangerous, because what you see as an improvement, another buyer may see as a negative. It’s important to remember that not all renovations provide the same return on investment.
Rejecting the First Offer
Getting back a low first offer can feel discouraging, and you may be tempted to immediately refuse the offer. However, remember that all offers are negotiable and you should consider every offer as a starting point – after all, any offer is better than none. Interested buyers want the best value and price for their investment, just as you want to get the most for your home. Often, through negotiations you can arrive at an offer that satisfies both parties.
Making a Bad First Impression
It’s very important to have a house as perfect as possible when you are listing your Denver home. If you plan to live in the home during the sales process, be sure that you remove the clutter and clear away any personal items like art, photos and knickknacks. Go through room by room and depersonalize. Maximize space and make sure each room tells a story. It’s also important to think about curb appeal because the first thing potential buyers see is your exterior. Make sure your exterior paint is fresh, your lawn is mowed and that any shrubbery or flowers are tended to.
Hiding Problems
When it comes to repairs or problems, the rule is disclose, disclose, disclose. If you are aware that your home is in need of repairs but are unwilling or unable to pay for them, you have to be upfront and honest about these issues. There is no way to get around a Denver seller disclosure report and the majority of home issues will come up in an inspection anyway. The buyer always finds out about problems, so it’s best to be honest and open from the beginning.
Selling a Denver home is a complicated process, but there are ways that you can make it easier on yourself. Work with an experienced agent who will help you navigate the process and give you tips to make sure that you avoid mistakes that ruin sales. Keep the above items in mind as you think about listing your home for sale.