When you're selling your home, it's essential to be aware of the potential pitfalls that can occur during the process. If you're not careful, you could lose money or take much longer to sell than
The Top 3 Pitfalls to Avoid When Selling Your Home in Nicholasville, Kentucky
Dated: May 2 2022
When you're selling your home, it's essential to be aware of the potential pitfalls that can occur during the process. If you're not careful, you could lose money or take much longer to sell than you expected. Let's discuss the top three pitfalls to avoid when selling your home in Nicholasville, Kentucky.
Not Working With a Realtor
One of the biggest mistakes you can make when selling your home is not working with a Realtor. Many people think that they can save money by selling their homes on their own, but this is usually not the case. A good Realtor will help you price your home correctly, market it effectively, and negotiate with buyers to get the best possible price. According to the National Association of Realtors, agent-assisted homes are sold for an average of $318,000 compared to for-sale-by-owner (FSBO) homes sold for an average of $260,000.
Overpricing or Underpricing Your Home
When pricing your home, you need to strike a balance. If you price your home too low, you may end up leaving money on the table. On the other hand, if you price your home too high, it could sit on the market for months without any offers. The best way to determine an accurate price is to have a comparative market analysis (CMA) done by a real estate agent.
A CMA is an evaluation of similar homes in your area that have recently been sold, are currently on the market, or have failed to sell. Your real estate agent will provide you with a suggested listing price for your home based on this data. So, if you’re unsure about the correct price of your house listing, it's best to ask for the assistance of a real estate professional.
Not Staging Your Home
When potential buyers walk into your home, you want them to be able to envision themselves living there. This can be difficult if your home is still filled with all of your personal belongings. To make it easy for buyers to see your house as their future home, you should stage it.
Home staging is the process of preparing your home for sale by making it look its best. This includes decluttering, deep cleaning, and making any necessary repairs or updates. According to the National Association of Realtors, 82% of buyers' agents reported that staging a property made it easier for buyers to picture it as their future residence. In 2021, staged properties were sold for an average of $40,000 above the asking price, according to data from the Real Estate Staging Association (RESA).
Avoid these common pitfalls when selling your home in Nicholasville, Kentucky!
If you're selling your home and want to ensure a quick, stress-free sale at the best possible price, avoid the pitfalls mentioned above! If you need assistance selling your home in Nicholasville, Kentucky, contact us at 859-797-4007 today!
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