As a highly competitive Real Estate market (74 on the Redfin Compete Score), Long Beach is home to different types of sellers: those who are looking to sell their property, those who need to sell it because their circumstances require them to do so, and those who have to sell their properties because there is no other option.
In this article, we will take a look at some of the biggest mistakes that homeowners make when selling a home in Long Beach. So, without further ado, let’s jump right into it:
1. Not evaluating your alternatives
One of the most common mistakes that homeowners make when selling a home in Long Beach is not evaluating all of their alternatives according to their situation. They may be more or less depending on your urgency to sell.
For example, if you are facing foreclosure, the chances are that you don’t have the time to take the traditional Real Estate route. You are one of those homeowners who has to sell their house as soon as possible, so you might need to seek for different alternatives to traditional realtors, such as cash buyers or individual investors.
The main reason why is time – if you sell with a realtor or even on your own, you may need months to complete the transaction. If you are facing foreclosure or another emergent situation, you simply don’t have the time.
However, if you know that your house is in a good condition to sell for market price in Long Beach, and you are not in a hurry, you have all the alternatives available at your hands. Including realtors and FSBO (For Sale By Owner).
2. Not pricing your home adequately
One of the biggest mistakes that homeowners make when selling a home in Long Beach is not pricing it properly, or not having a good understanding of its value in the market.
Many homeowners make the mistake of overpricing their property at the initial stage of the selling process, with the intention of negotiating the price to give the impression of a win-win for all parties. However, selling a property at market value – or even below market value – tends to be a lot more appealing to potential buyers.
So, overpricing your home means that you could be losing on a wider net of potential buyers. For example, if you list your home at $505,000, you risk missing out on buyers who have topped their budget at $500,000. However, if you list it for $499,000, you can actually reach more buyers and have more opportunities to sell.
To determine the value of your property, make sure to look at similar properties in Long Beach. You can also consider getting a home appraisal. Of course, you can skip this step if you are selling directly to a cash buyer because they will do it for you.
3. Ignoring the need for major repairs or renovations
A long list of issues with the house can turn buyers off and decrease the value of your home, especially if the condition of the home doesn’t match the description. Before selling a home in Long Beach, make sure that you don’t ignore the condition of the property because it may scare potential buyers.
Conducting home assessments, fixing broken items, repairing plumbing and/or electrical system issues, and anything else that could affect the safety and functionality of the property are just some of the things that you may need to address.
Of course, this is not always as easy as it sounds. In many occasions, homeowners simply don’t have the budget (or don’t want to spend it) on improving the condition of the house, especially if there is need for major fixes.
If your house is in a poor state and you are not in the condition to improve its marketability, you can consider selling it to a cash buyer. They will purchase it as-is and give you a fair market offer so you won’t have to worry about repairs and renovations.
4. Not getting professional photos
Undoubtedly, one of the most common mistakes that people make when selling a home in Long Beach is not taking professional photos of the property.
Whether you’ve decided to sell with a realtor, or on your own, listing photos that aren’t done professionally will not be able to attract the same amount of potential buyers as the ones with high-quality images. Professional photos that show the property from every angle and perspective can help you sell a lot faster.
This is especially true in a highly-competitive market such as Long Beach, and also considering the fact that nowadays, many homes than ever are being sold sight-unseen. Houses with professional real estate photos also tend to sell for more money compared to other listings.
Of course, as we mentioned previously, you can skip this step if you are selling to a professional cash buyer as they will be able to evaluate and make an offer for your property without them. However, if that’s not the case, make sure that you hire a professional photographer who will also take aerial images of the property for an even bigger impact.
5. Focusing only on the interior of your house
Next on our list of mistakes that homeowners make when selling a home in Long Beach is that they don’t pay that much attention to the exterior of the property as they do to the interior. When, in fact, it is just as important to convince potential buyers that this is their future home. Especially considering that nature always takes a toll on house exteriors.
You can take some of the following steps to improve your house exterior:
- Pressure wash the house, garage door, fence, patio and driveway;
- Mow the lawn if necessary, especially if you haven’t taken care of it recently;
- Paint your front door and make sure that there is enough light in the entryway;
- Give a makeover to your mailbox to make it look more modern and stylish;
- Add some front door décor to give the house a warm, cozy feeling of home;
Of course, some of these steps are completely optional, and you don’t have to do them if you don’t have the time (or nerves). However, they can significantly help you to improve the marketability of your home and get a better price for it in the market. By ensuring that your home’s exterior looks great, you can easily avoid common home selling mistakes like these.
6. Not cleaning your home
No matter if you are selling to a professional cash buyer, on your own, or using a realtor, one of the biggest mistakes that you can make when selling a home in Long Beach is neglecting it. In the minds of buyers, if you don’t care enough to clean it and make sure it’s presentable, you probably haven’t been maintaining it a lot either.
Which can give them the impression that it’s full of potential technical or safety issues that can pop up at any time, and will cause them a lot of money to fix. Which, consequently, might scare them away.
Apart from the obvious items that you need to clean – such as sinks, toilets and tubs, make sure that you take a look at places you don’t normally consider to be that important. For example, scuffed up baseboards, the inside of your microwave, behind the wardrobes, behind the beds, etc.
Invest a few hours of your time to clean with a sponge, a vacuum cleaner, and a mop. It costs nothing and could be the difference between a home that sits and a home that sells quickly.
7. Choosing the wrong professional
Unless you are looking to sell your home on your own via the FSBO (For Sale By Owner) route, one of the biggest mistakes that you can make when selling a home in Long Beach is to choose the wrong professional.
If you are planning to sell with a Real Estate agency, keep in mind that there are more than 14,476 active real estate agents in Long Beach, so it’s easy to stumble on the wrong one if you are not doing your research carefully. Always make sure that you are choosing a realtor that has your best interest at heart.
To ensure that you are getting the best possible deal for your property, take the time to interview real estate agents that you are considering to work with. Make sure that you check their licensing, credentials, reviews, and that they have a lot of experience selling in your particular area and price point.
Additionally, you can ask agents about:
- How they are planning to market and advertise your home to potential buyers;
- Whether they require you to sign a contract with them, and for what duration;
- Their style of negotiation so you know exactly what to expect;
- The frequency of communication that they are planning to maintain with you;
- Whether they have any current listings that might compete with yours.
Not researching this information when evaluating real estate agents is one of the biggest mistakes that homeowners make when selling a home in Long Beach.
The same mistake can happen if you are planning to accept a cash offer on your house with a professional cash buyer. Keep in mind that not all companies are created equal, so do your due diligence to find a reputable and reliable buyer, and not end up with someone who turns out to be a scam.
Don’t make these mistakes when selling a home in Long Beach. Need more information about the best way to sell your house? Get in touch with us today, and we will be happy to answer all your questions.