How to Overcome the Top 5 Challenges of Selling Your Home
So you’re ready to sell your home … but are you prepared to deal with all of the hurdles along the way? Before you put your home on the market, you need to plan ahead for each of these five challenges.
Challenge #1: Getting your home ready to sell
You’ve probably heard that making certain repairs or even remodeling a kitchen or bathroom before selling your home could help you close at a higher price. You can read every article on the subject that you like, but only someone with a deep knowledge of your local real estate market can give advice relevant to your specific case. Hire a REALTOR®️ before you make any changes to ensure that you’re making most of your budget and time.
Once your home is on the market and you’re ready to schedule showings, your REALTOR®️ can connect you with a home stager, who will help you stage your home to command the most interest and best price. Home staging serves a different purpose than decorating a house you will actually live in, so even if you enjoy interior design, this is another area where it’s helpful to work with professionals who deal with home sales every day. Together, your REALTOR®️ and home stager will maximize the desirability of your home, so it sells faster and at a higher price than it would if you tried to sell it yourself.
Challenge #2: Pricing
Most homesellers don’t really know what their homes can command on today’s market. You can browse local home listings, but that can only tell you so much. You won’t know what sets these homes apart, how their prices were set, or whether they will sell in a timely manner. Emotional attachment to your home may also sway your judgement in naming a price. What you really need is to find a price that works for you and also for a buyer, so your home will sell and not sit on the market for months and months.
Again, a local REALTOR®️ is your best bet for objective pricing. Their experience will inform a price that considers all the amenities of your home, your goals and the current state of the market. They will help you choose a price that will attract buyers and ultimately maximize the sale price of your home.
Challenge #3: Knowing how to prepare for inspections
Even once you’ve found the perfect buyer, your home needs to pass inspection before the sale can be finalized. The inspection is a thorough look at every aspect of your home, from checking that the outlets work properly to looking at the state of any fireplaces. You’ll need to ensure that the inspector has access to every part of your home, including electrical panels, the furnace, under-sink plumbing and so forth. You’ll also want to have documentation of the work you’ve had done on the home in the past handy.
After an inspection, you’ll be left with a list of items the home inspector feels need improvement. You may feel that some of these items may be required in order to close the deal, while others may be simply recommendations or non-issues. This is where working with a REALTOR® will help smooth over the inspection process for you, as your REALTOR® can help you determine how to respond to inspection results.
Challenge #4: Understanding paperwork
If there’s one thing that’s constant across all home sales, it’s paperwork. And if you’re buying a new home at the same time as you’re selling your existing home, you’ll have even more to juggle. It’s one thing to gather together all of the forms and documents, but it’s another to understand what you’re looking at in every step of the process.
Your REALTOR® can help you understand the implications of the paperwork throughout selling your current home and buying a new one. Their expertise will help you come to the best financial outcome, and ensure that nothing falls through the cracks that could hurt your sale.
Challenge #5: Managing stress
Especially if you’re trying to do it all alone, selling your home is intensely emotional and complex. Knowing that you’re working with an expert can help ease your stress throughout the selling process. By working with a REALTOR®, you’ll have a guide and an advocate in every stage of selling your home.