The hardest part of real estate investing isn’t what you might think it is…
It’s not finding the right property.
It’s not timing the market.
It’s not finding the best location.
It actually comes around when you’re selling a property. And avoiding these 3 traps could make it smooth sailing for you…
Trap 1: Don’t settle with any old listing agent!
The most vital piece of the puzzle is to hire the right listing agent, and that means interviewing as many as it takes until you’ve found the right one. The wrong listing agent can cause you to miss out on tens of thousands of dollars, so don’t take this decision lightly.
Pick out the listing agent with the best knowledge of the local area over those who simply tell you what you want to hear and throw out overly ambitious numbers.
And do so before you have to list your home for sale. This will give you time to comfortably interview and select the right listing agent for you.
Trap 2: Don’t underestimate the showings!
Don’t expect potential buyers to view your home through the best of lenses. If anything is dirty or untidy, that’s how the majority of them will perceive the home to be all the time.
If you have pets, make specific plans for how you can deal with the smell, hair, etc. for showings.
Get your home professionally cleaned – it will make a world of difference. And move some of your things into storage if need be. Having your home in prestine condition is a must for sellers.
Trap 3: Don’t mis-value your home by not doing your homework!
Not doing your homework will lead to unrealistic expectations. And those unrealistic expectations can ruin your new home buying experience if you go into it thinking you’ll have more equity to use based on your previous home’s worth.
Check local comps, consider a presale inspection, look at nearby home sales over the past 6 months, and take a peek at trending prices. When you know your home’s value, you’ll end up getting the right price for it.
