Selling your home in the Boulder 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. You need a good real estate agent to guide you through this process because this is one transaction you do not want to mess up! But just so that you are prepared on what NOT to do, here are the 5 biggest mistakes sellers make when selling their home.
1. Not Pricing Your Home Correctly
Not pricing your Boulder area home correctly, and generally this means overpricing your home, can be incredibly detrimental to the sale of your home. Overpricing is probably the biggest and most common mistake that sellers make. Sellers have emotional attachments to their home and sometimes this means they believe their home is worth more than it actually is. It’s important to remain objective during this process 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, get a free Home Estimate by filling out your details. This will help you avoid one of the biggest mistakes sellers often make!
2. 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 when selling your Boulder area home. Inventory is currently lacking in the Boulder area real estate market and so 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 however, which is why I produce a monthly Market Report so I can keep my clients informed of what’s going on. You can get my latest Market Report and newsletter here and stay up to date on how the Boulder area real estate market is doing every month.
3. Choosing the Wrong Agent or WORSE – Not Using an Agent
Not using an agent and going the FSBO (For Sale By Owner) route is something I will never recommend to a seller. The idea that you will save money by not paying a commission will only backfire, I promise. A real estate agent’s specific skills are indispensable when selling your home and will make you more money in the long run. If you want to sell your home for the highest possible price, use a Realtor and don’t do FSBO.
When you decide to use an agent, make sure you are choosing the right one! You want to find someone who you can trust and 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 to find out more. 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.
4. Not Adequately Preparing Your Home For Sale
Underestimating the importance of making your home look appealing is another one of the biggest mistakes sellers make. 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. Selling a completely empty home is often more difficult as well but as with the home pictured here, can be virtually staged.
5. 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 Boulder 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 break everything down and give you more accurate estimates for how much exactly this all could amount to. But you should prepare for closing costs, home inspection repairs, staging costs, and moving costs. Depending on how long your home is on the market for you might also need to consider your carrying or holding costs. This is another reason you don’t want to overprice your home as you could be losing money in the long run.
The sale of any Boulder home can be a little stressful as this is a high stake and 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 biggest mistakes sellers often make. 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?
Do you have any other questions or concerns about what mistakes sellers make when selling their home in the Boulder area? Please reach out to me! While we are all waiting for things to go back to “normal” I want my clients to know I am here for them. I am still keeping social distancing guidelines in check when it comes to showings for my listed properties as well as taking the utmost care when showing my buyers homes. If you have any questions or concerns please feel free to reach out and contact me! I will continue to provide my clients with interesting and up-to-date information so they can make informed decisions. If you are planning on buying or selling a home in the near future and you think that my expertise and positive attitude might be of service to you don’t hesitate to reach out and contact me!
Or would you like more information on the Boulder area or the real estate market specifically? If so click here to download my current market report on the area or visit this link – http://elisabethnelsonrealestate.com/market-report-newsletter/
Luxury Home Specialist & New Home Specialist
Coldwell Banker Realty
(303) 916 5859