Mistakes To Avoid On Your First Buy/Sell
Pricing a property is a science of it’s own. There are a lot of components and factors. So many small details that ultimately lead to the value of a home. Although there are a lot of sites with estimates, namely Zillow, the technology of the online sites that determine property values are simply not accurate. Zillow even states that their numbers can be inaccurate up to a whopping 20%! Without a background as a real estate professional, it’s virtually impossible for a consumer to be able to know the proper components needed to price a home. When you’re purchasing a home you want to find a deal, which can lead to stubbornness about what you are willing to pay vs what you think a home is worth. What you WANT it to be worth is the complete opposite of what it should sell for in most cases. If you’re a first time seller, you may want to sell your home for as much as you can squeeze out of it, but this can lead to unrealistic expectations, and ultimately lead to an overpriced home that never sells. Don’t make the mistake of assuming you know what a home’s value should be. Instead, partner with a real estate agent that truly is working for your best interest. Let them provide you the tools to support home values of what your home is worth or what dollar amount you should put an offer in on a property at a number that makes sense.
If you go into a sale or purchase refusing to make negotiations and hard-set on what you want without exception, you’re more than likely going to cause a lot of grief and stress for yourself during the sales process. When you’re looking to buy or sell a home, you have to have an open mind about negotiations. They are a common practice within the industry. Buyers wanting to spend less and sellers wanting to net more. If neither party is willing to make negotiations you’ll find yourself in a contract time and time again, only to fall apart before you can finally close on the home. Having a great agent will help you ensure that the negotiation process is reasonable, which leads to both parties to the closing table, without compromising you.
Although we all have an idea in our mind what our dream home should be, sometimes the market and your budget don’t fit realistically into check marking everything off of your list. Find an agent that helps you look for the most important needs in your dream house, but keeps an open mind to a home that fits most of your needs. Having too many expectations within a home can become stressful and result in never finding a home that really matches your needs. If a home has the major components you are seeking, get creative and see if the other things you want can be added down the road. Have a certain number of non-negotiable items, like bedroom/bathroom count, but then have a list of “wants.”
Don’t make the mistake of trying to handle the sales process all on your own. There is a reason that the real estate profession and the laws around it are as strong as ever. Real estate agents are a necessity during the sales process to ensure the right steps are taken to get a home sold. Buying and selling is a difficult process that requires knowledge and expertise that comes from a professional within the industry. From legal terms to finding homes that aren’t even listed on the market, there are a lot of ins and outs un-experienced buyers and sellers may not think about, which can lead to losing value on your home or never finding the right one. Avoid the stress of “learning the hard way” and find a professional that can give you the guidance you need to get the task at hand completed and ensure you’re happy with the outcome.