Missing out on the best timing

There’s no better time to sell than when the market is hot! In a “seller’s market”, there are more buyers than there are properties available. That gives the seller an advantage because when multiple buyers write offers on the property, it usually results in higher bids. On the other hand, in a buyer’s market, there are so many properties to choose from that the buyer feels no pressure to offer top dollar. If one seller doesn’t sell at the buyer’s offer price, chances are another seller will.

Right now, the market is red-hot for sellers due to the sheer number of qualified buyers looking for homes to buy. Unfortunately, some sellers wait too long and as a result, may wind up selling for much less than they could have when the timing was right. If you’re interested in taking advantage of today’s market, give us a call. We’re here to help!

Not getting pre-approved for your next home

We see this happen all the time! A seller puts their home on the market, negotiates an offer, opens escrow, and then begins their search for the next home to buy. But what if they don’t qualify for their next home? Here’s how that can easily happen. If the sellers bought their current home 15 years ago for $225,000, and today they’re selling it for $650,000…it stands to reason that they would qualify to buy another home for the same price or slightly higher, right? Not so fast. What if they had two incomes back then, and their credit was flawless? But as they had kids, mom quit her job to stay at home, and over the last 5 years, their credit has suffered for various reasons. The truth is, sometimes people actually may not even qualify to buy their own home again, much less a more expensive one. That’s why we always recommend that sellers talk to a loan officer to ensure that their plans are attainable. It simply makes too much sense to find out now versus after the sale of your current home. We’ll point you in the right direction, and put you in touch with one of our many lenders so that you can have peace of mind knowing that your goals can easily be met. Call and let’s get started!

Not presenting your home in its best light

We discuss the importance of “staging” your home and having professional photos taken in great detail on our sellers page here. Suffice it to say that it’s vitally important that your home be presented in its best light, not only in order to attract the most amount of buyers, but also to net your highest price. At a minimum, it will require de-cluttering and cleaning from top to bottom, along with having professional photos taken so your home stands out from the rest of the competition. We’ll help you with whatever budget you have to work with, even if that budget is low or potentially non-existent. Sometimes just a thorough deep cleaning and making the home presentable is all it takes to get your home sold. But if more drastic measures are needed, like minor repairs or replacing broken fixtures, we can still help you by working within your budget, and identifying the things that should be done first. Call us for a free consultation. We’ll walk through your home together while taking notes on the things we think should be tackled prior to putting your home on the market.

Overpricing your home

Even when the market’s hot, there are still sellers who insist on overpricing their homes. To borrow from the car analogy, there may be instances when there are a ton of car buyers, but it’s never a guarantee that someone is going to pay $45,000 for your 2015 Kia Sorrento, right? Buyers and their agents know full well when a property is overpriced, and they’ll simply pass it by. Maybe bumping up the price a little in the beginning can allow you to test the water a bit, but keep it reasonable. If your home is worth $650,000, don’t price it at $799,000 just to “see what happens”. The answer is your property will sit on the market for far too long. We offer a free market analysis for properties throughout Southern California, so give us a call and let’s figure out the best starting point.

Turning down a great offer

It would be wonderful to get an all cash offer, at full price, ready to close on your timeframe, and with no inspections or repairs. However, “perfect” offers are very rare, and in almost all circumstances, there’s a little give and take from both parties. Here’s a scenario that provides a good example of what we mean. Let’s say a buyer offers full price for your home, but asks that the price include the washer and dryer, and that the broken window in one of the bedrooms be replaced. There are some sellers who will take a firm stance, and say “I’m not giving my washer and dryer to anyone, and they can repair the window themselves.” But let’s take a closer look. The washer and dryer are valued at $1,000 and it’ll cost $150 to replace the window. So the question becomes one of, is it worth it to lose a $700,000 sale over $1,150 dollars? In most cases, our answer would be no. However, maybe there’s a meeting in the middle. Maybe you counter their offer by stating that they can have the washer and dryer for $500.00, and that you’ll credit them the $150.00 at closing. That way, both parties may find that they’ve reached a reasonable solution instead of missing out on a great deal for both. We’ll help you determine the best way to handle ANY scenario that comes your way during the sale of your home. You can count on it! It’s what we do!