The Seven Sins of Selling, or How Not to Sell Your Home

The Seven Sins of Selling

We believe that Chicago has one of the best real estate markets in the country. It’s full of great deals in vibrant, eclectic neighborhoods bursting with delicious food, cutting edge theater, and gorgeous parks.

But while Chicago’s real estate market is a rich one for buyers and sellers, it isn’t always as easy to sell a home as we would all like. There are a few key mistakes that first-time sellers make that can lead to longer timelines and financial stress. Fortunately, we’re here to help make the process as painless and productive as possible!

With some help from house hunting site Trulia, here are the seven deadly sins of selling, and a few ideas on how best to avoid them:

1.) Trying to Sell All Alone

Selling a home is an intensive, time-consuming process that can be riddled with lots of unexpected ups and downs. While it may be tempting to simply put your home on the market and hope for the best, we strongly suggest that you bring on an experienced real estate team to help save you time, effort, and money in the long run. Everything is harder when you go it alone; having a real estate team by your side will ensure you get the best deal at the best possible time.

2.) Selling at the Wrong Time

Speaking of timing, it’s important to find the right time to go on the market. Every family and every sale is different, and working with the right team can help you figure out the best time to sell for your unique situation. Maybe you want to sell so you can maximize repairs on your new place; maybe you’re trying to buy and sell at the same time, or maybe you’re trying to sell at the right time to lock in your ideal mortgage rate on a new home. Whatever your circumstances, mistiming a sale can be costly.

3.) Mispricing

It’s important to have your home evaluated by professionals so that you and your listing agent can get the best deal possible. Over- or undervaluing your house can have costly ramifications, leaving you stranded with a home on the market. Avoid the wait or the regrets and make sure your home is priced properly.

4.) Not Providing Full Disclosure

William Shakespeare told us that “truth will out” in Merchant of Venice, a play deeply concerned about financial transactions. We think it still holds true when it comes to selling a home. When it comes to disclosure, be honest and upfront with your buyers to avoid any hassles or legal troubles down the line.

5.) Allowing Your Ego to Take Over

Selling and buying a home is an inherently emotional process, tied up in your memories of the past and your hopes for the future. But it’s important not to let your pride or ego get in the way of a great deal during negotiations. Seek out the deal you want, but don’t get so emotional that you stem a deal that could benefit you and the buyer, leaving you high and dry.

6.) Not Taking the Time to Present Your Home Properly

During a sale, it’s important to make your place as visually appealing as possible. This can take a lot of forms: It’s important to make sure your home is clean and free of clutter, so that your prospective buyer can see the potential of the space. At the same time, no one wants to see a totally empty home, so do add some design touches that make it feel warm and welcoming. Take care to consider how your home smells, looks, and, above all, feels to outsiders. Help them see themselves in the home, and you can help them commit to the sale more quickly.

7.) Not Counting on Extra Fees and Expenses

So you’ve closed and – what’s this? Don’t panic! Many first time buyers and sellers are taken aback – or left totally unprepared – for the long list of fees and costs that come with closing a sale. Get ready with our guide, and be sure to request a list of fees well before the closing comes.

Above all, we feel that the best step for a seller to take is to connect with a trustworthy real estate team who understands not just the economics of the area, but your unique circumstances and needs as a client.

When you’re ready to get serious about selling, why not drop Real Group a line? We’ve got the team and the experience to make buying and selling in Chicago as easy as can be!

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Baird & Warner

2526 N Lincoln Ave
Chicago, IL 60614

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