Knowledge is power.
Ignorance can be VERY costly, and few times are going to be more likely to prove that out than during a home's sale.
How many homes does a typical person sell in their lifetime? For the average person, that number may be very well counted on one hand, so honestly, you shouldn't be expected to know everything there is to know about selling a home.
I'm not a carpenter, and while I can do some basic projects, it'll probably look like I did it and not a professional when it's finished.
I can tinker around my car a little, but frankly with technological advances I often don't have the right tools, so I have a trusted mechanic for anything but the simplest tasks.
I'll admit it, I'm ignorant in a major way in certain fields.
But one place I'm not ignorant is the buying and selling of homes in Greater Cincinnati, so I'm going to give you some insight into things you may or may not do that can cost you MAJOR money when it's time to sell your home.
1. Ignoring maintenance needs around your home. Some things are easy (and relatively cheap) to fix, but a buyer WILL NOT see it that way. A buyer tends to multiply the real cost by 10 to decide what that "small" issue is worth to them. The ruined wood from the leaky gutter, the stain on the carpet, the peeled up flooring in the corner, they're all going to cost you if you don't address them prior to putting your home up for sale.
2. Letting your fur babies go nuts in the home. The worst is odor issues, with stains and physical damage a close second. There's no easy way to fix it, and if you've ever stepped into a vacant home in July that formerly had cats peeing everywhere, then you know that ammonia smell will pretty much kill any showing and any chance of selling a home that day.
3. Hiring an agent that doesn't understand your market. Trending up or down? Knowing means pricing right to actually get your home sold WITHOUT leaving money on the table.
4. Hiring an agent who's main claim to fame is getting homes sold FAST!!!!! That's perfect if you need your home sold fast, but that speed is often made at the expense (literally) of pricing your home lower than the market would have borne. You might think your agent is a hero for the quick sale and you may never know you could have gotten LOTS more for your home.
5. Speaking of quick sales, you might hear about "disruptors" in real estate. Or they may be called iBuyers. Basically they're promising a quick and easy sale of your home. No showings, no hassle, but stop and think about it. They're in the business to make money, so they're going to offer you well below true market value (otherwise how can they turn around and sell the home for a profit?) AND have fees that may make you flinch. At a minimum, talk to a real estate agent not associated with the program and compare. You may come out well ahead with a "regular" agent.
6. Blabbing just a bit too much, especially on social media. Look, the world is MUCH smaller than it used to be. I've had recent occasions to meet people that SHOULD have been total strangers, but we had common points in our past. That whole 6 degrees of Kevin Bacon thing? I think it's down to 3, 4 if we need to go international. So when you post on Facebook about your home for sale and you've already got your next place picked out? Well you just never know who's reading the post and MIGHT be your buyer or know your buyer. So radio silence is a good thing. Nothing wrong with posting that your home is for sale, but beyond that, keep the details within your own four walls.
7. There are more opportunities for things to go sideways. Home inspections, appraisals, etc. Knowing what you need to know can make a huge difference. Or...you could just hire someone that helps buyers and sellers over and over and over.
Want to discuss further? Just give us The Liz Spear Team a call at 513-520-5305 or email Liz@LizSpear.com.
Serving Greater Cincinnati home buyers and sellers,
Bill & Liz aka BLiz
Serving Warren County Ohio & Adjacent Areas
The Liz Spear Team of RE/MAX Elite
Elizabeth Spear, ABR, CRS, Ohio License SAL.2002007747
William (Bill) Spear, CRS, Ohio License SAL.2004011109 Kentucky 77938
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Two locations: Lebanon & Mason, OH
Bill Direct: 513-520-5305
Liz Direct: 513-265-3004
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