While it can be tempting to do your home marketing by yourself, tread with caution. The wiser choice may be to have a professional realtor on your side. Their years of experience and success are worth more than gold when it comes to selling your home. Here are just 5 potential pitfalls of trying to market your home on your own.
5 Pitfalls of DIY Home Marketing
1. Bargain Hunters
Bargain hunters tend to prey on families who are selling their homes themselves. They often come with cash in hand or very large down payments, but with heavy pressure to sell well below market value. They are usually very good at what they do, and know who they can most easily take advantage of. It can be hard to navigate these shark-infested waters without the help of a seasoned professional on your side!
2. Buyers without Adequate Financing
It’s very important to ensure your potential buyers have the financing required to purchase your home. Homes can be tied up for months while a buyer tries to get financing they may not be qualified for, costing you critical time and maybe even the sale. Never tie your home up in a contract unless the buyer can provide you with a letter from their lender stating that they are pre-approved. Note that this is not the same as pre-qualified. Hiring a professional realtor can help you avoid the months of potential stress and headaches that unqualified buyers can bring.
3. Difficult Hours
When selling your home on your own, you need to be prepared for very late and very early phone calls, and potentially inconvenient showings. Potential buyers are generally only concerned with their own schedules, which can be difficult for the sellers. If you plan to sell your home solo, you will need to set firm boundaries about your availability and stick with them. A truly interested buyer will be accommodating to your family’s schedule.
4. Subpar Photography: The Home Marketing Dead-End
Many a marvelous home has been passed over based on poor photography and dreadful (or even non-existent) video walkthroughs. Homes cannot just be sold, they must be marketed. That includes top-notch photo and video documentation, a strong web and social media presence, and someone to do that marketing skillfully and consistently.
5. Inappropriate Pricing
When homeowners price their homes themselves, they often do so without enough research. Some homeowners overprice, thereby destroying their home’s marketability. Or they underprice and fail to get the cash their home deserves. If you plan to price your home yourself, you must commit to extensive market research beforehand.
My best to you always,
National Association of Expert Advisors