Common Mistakes When Selling Your Home in Upstate NY
Selling a home in Upstate NY during this real estate market can be stressful on the Seller. Homes can sit on the market for months on end. Buyers are in the driver’s seat in many markets, and they know it. That’s why if you’re planning on putting your home on the market, it’s crucial to understand the time-honored mistakes sellers make, and how to avoid them:
Pricing for Yesteryear: In Otsego and Delaware Counties, home values fell over 20 percent since the market peaked in 2006. Yet, many sellers are tempted to list their home for sale based on what they paid for the home, not on their area’s current real estate market conditions. If you set a price too high, your house will sit. This will inevitably lead to price reductions, which could signal to buyers there is much more room for negotiation.
Have your agent give you information on comparable home sales and find out how long homes are typically on the market.
Don’t concentrate solely on the recent sales of homes in your area. Make sure you look at homes that are on the market right now. These homes are your competition. Check what your competition is on a regular basis.
Hiring the Wrong Agent: Choosing the right real estate agent is a crucial part of the selling process. You need to find someone who demonstrates knowledge of your area, expertise in the process, and strong communication and marketing skills. Yet, many people just hire someone based on one friend’s recommendation and wind up frustrated during the process.
Limiting Your Marketing Exposure: Real estate is often thought of as a local business, but in addition to marketing your home to a few local web portals, be sure to market your home on social media sites and to national real estate sites such as Century 21.com. 90% of Buyers search the internet prior to calling a Realtor. Remember — home buyers looking to come to Otsego and Delaware counties are not always local; businesses transfer employees and people move.
Ignoring Web Appeal: When marketing your home online, make sure your agent displays as many photos of your property as possible. Focus on what people care about, namely, the kitchen, living spaces, and even the bathrooms. Make sure to clean up and de-clutter, it’s amazing how many messy rooms are shown in listing photos. High-resolution is best. Video adds value to your home. Make sure your agent produces a video and publishes it on as many websites as possible. We are very proud at Century 21 Chesser Realty for our videos we produce and publish on National websites. Facebook is another media we use for exposing your home. Here is an example of one great home video. http://www.realestateshows.com/641884
Don’t Follow Buyers Around When Showing: Whenever possible, don’t be home when showing. Lurking sellers make buyers nervous — they don’t feel comfortable inspecting the house when they feel like they’re being watched. It’s easier for buyers to visualize the home being theirs when they have a chance to critique and discuss the home among themselves.
Our agents at Century 21 Chesser Realty work hard with their sellers serving all their real estate needs.
If you would like to know how to take better advantage of this information we have given you, please feel free call Century 21 Chesser Realty at our Oneonta, NY office at 607-432-7653.