Today, we’re going to talk about what not to do when selling in the surrounding Salt Lake County area.
First of all, don’t set an unrealistic price. The market is hot right now, so it can be tempting to set an extremely high price for your home. However, buyers are well-educated and know the difference between an accurately priced property and an overpriced one.
Overpriced properties sit on the market for a long time. Buyers start to wonder what’s wrong with those properties. The longer a home sits on the market, the less money you will get. Accurately priced homes actually draw in multiple offers and create a bidding war situation, which drives the price up. “Overpricing your home costs you time and money.” Another mistake people make is selling without an agent. The National Association of Realtors reports on average, For Sale By Owner properties sell for 12% less compared to homes sold with an agent. That’s a lot of money, and it’s less expensive than paying a commission for an agent to sell your home. You will also save time by hiring an agent because selling a home is a full-time job.
Not marketing your home is not a good idea. Quicker access to more buyers means your home sells for more money in less time. Your listing agent has a sophisticated marketing plan that will cast the biggest net possible for buyers.
Finally, don’t skip repairs. According to NAR, 24% of all offers accepted between buyers and sellers fail, and 80% of those fail due to the inspection contingency. If you have deferred maintenance, fix it. The buyer will choose their own preferred vendors, which could cost you more money than it would to hire some people and take care of things on your own.