No two transactions in the real estate industry are the same. Each transaction made is customized to the needs of the buyer and the preferences of the sell. While it makes the job thrilling for a real estate agent, it’s an obstacle for the seller who is in the market for a one-time transaction. Now we will tell you the biggest obstacles a seller faces while selling a house so that you can stay prepared and make informed decisions.
Setting the price too high
We get it, you want to sell your house at the highest price, but it needs to be reasonably high too. No crystal ball will tell you the exact price at which you can sell your house, but overpricing is not the way. If you have over-priced your house while entering the market, you will not get many inquiries for it. The longer the house stays in the market, the more buyers will feel something is wrong with the house even if it isn’t. We often have sellers telling us ‘sell my house in Spokane at the highest price’. We always tell them that we are going to try to sell their house at the highest price according to the market. So it is always advisable to choose a top realtor with experience and success rates to make the selling process less strenuous.
Emotional attachment
Sellers often dwell between ‘sell my house in Spokane’ and ‘I am not sure if I am ready to let go of this house. So if you are going to sell your house for the first time, you have been forewarned of the emotional handling that you will need to do. Sellers often suffer from seller’s remorse when while selling their house. The best way to overcome it is first to be sure about wanting to sell it. And second, to be able to recognize that it is a business decision taken for the best.
Choosing a Realtor
Choosing a realtor is one of the biggest challenges homeowners face when selling a house. Why? Because there are hundreds of real estate agents in every real estate market. So how should you choose the best one for yourself? In many real estate markets, the best business is done by only 10-15% of the real estate agents. These agents are NOT a ‘YES’ man/woman. They will tell you what is feasible and the highest price at which you can list your house. They will suggest bringing a prospective buyer to an open house to close the deal. Choosing a good realtor is half your work done while selling your house. So, before you tell your real estate agent ‘sell my house in Spokane’, interview and choose the correct one.
Mortgage Denial
Another common hindrance to selling your home is the buyer’s possibility of obtaining mortgage approval. This is where experienced local real estate agents can support. Evaluating and picking the best offer will determine whether or not you will be able to close the deal successfully. Buyers can be denied a mortgage for a variety of reasons. If the home buyers do not work with a real estate professional, their chances of getting a mortgage approved are lower than if they work with someone who has the experience. It again reiterates that if you are selling your home, make sure you select the best-qualified realtor.
Unrealistic buyers
Many potential buyers in the market will want to offer a homeowner far less than the home is worth, whether a home is priced correctly or not. Another issue that sellers need to deal with unrealistic buyers is the condition of the home. Many buyers want the house in mint condition but still offer a low ball price. They do not even want to make minor cosmetic improvements like painting rooms and replacing carpeting. You don’t want a buyer like that.
Now that we have warned of the obstacles, you can stay prepared while putting up your house for sale. It can reduce your stress to a great extent.
