If you want to sell your home fast in Nevada, you should learn about the most common yet preventable mistakes so that you have a successful sale.
The Mistake of Underestimating the Competition
For the first time since 2005, the average price of a home in Nevada dropped by $18,000 in 2017, according to Coldwell Banker Carson City Real Estate. Why? Vacancy rates remain relatively low at just 4 percent, so houses are very quickly snatched up by buyers. “We’ve noticed that what’s gone up recently is the amount of competition out there,” says Steve Schifter, owner of Schifter Real Estate Services. “There are more sellers than there ever were, and they are usually buying in a day or two or the listing goes under contract.” The competition can be brutal and with the rate of price drops, it can be hard to sell your home fast. It is imperative that you become familiar with the competition in your area.
Not Communicating with the Buyer
Sellers often assume that buyers will understand their options, but buyers don’t care about your price or rent or mortgage payment. You need to understand their pain points, like their employment status and what they want to buy. You need to talk to them and show them how much you care about their goals and interests. You’re selling your home, so you should do your homework. You need to know about new home construction in the area so you can advocate for a specific property and convince the buyer that they should buy it. You also need to educate yourself about existing issues in the neighborhood. You don’t want to get stuck with an issue that will cost you thousands to fix.
Failing to Prepare Your Home to Sell
Selling your home fast is especially tricky when the buyer is not familiar with the home you are trying to sell. Before listing your home, it is important to take some time to ensure your home is up to the proper standard and clean. You do not want to see a showing or get a buyer interested and then have to leave it in the shape it is currently in. Not cleaning it properly can leave a negative impression of you, your home, and most importantly your residence. Following up on potential buyers is absolutely vital when you want to sell your home quickly. It is easy to get a buyer interested if you have some interest in showing your house, but not following up with them and not getting feedback will hinder the chances of a sale.
Making too Many Changes to Your Home
Selling your home for more than you paid for usually means that you’re doing something wrong. Are you making cosmetic changes to your home that buyers do not like? Are you updating your kitchen, bathroom, or even the color scheme, when buyers have no problem with the paint scheme you have now? Are you hiring someone to paint and change the landscaping, when that has always been your responsibility? These are just a few of the many things you may be doing to your home that buyers find annoying, that they’re tired of, and that they won’t pay extra for. Paying High Prices For Your Home If you’re getting a high price for your home, you’re also more likely to sell it quickly. That’s great. However, the price you’re getting may not have been fair to your neighbors.
Lacking Showings and Presentations
Not being prepared with a presentation of your home is the No. 1 reason a home sells faster than it should. There are many reasons for a lack of showings. As a home seller, you will be swamped by telephone calls and you may lose your credibility in people’s eyes because you can’t always take their calls or return calls for a few days. Don’t sell quickly until you get the right set of help. You should be showing at least three times a week. For homes less than $300,000, get a Realtor or Certified Listing Specialist to handle all the extra details. The home should have been professionally staged and then photographed.
Hiring the Wrong Real Estate Agent
This is one of the most common mistakes that many homeowners make when selling their homes in Nevada. Too many people see selling a home as a “hobby” and therefore choose to sell it themselves. Instead of hiring an experienced real estate agent, many of these homeowners simply call themselves “agents” on Craigslist. This means they could potentially be cutting their asking price in half or more by listing the home with a real estate agent, rather than their own seller’s agent. For this reason, I always tell my clients to hire a real estate agent with experience in the Nevada real estate market. Of course, the “price” of a real estate agent is highly subjective. In fact, people always use different calculations to determine how much a real estate agent is worth.