Knoxville Sellers – Are You Making These Costly Mistakes?

It’s that time of year when many Knoxville sellers think about putting their Knoxville home on the market.

Maybe you’ve repainted and revamped. Maybe you’ve done some home staging. Maybe you’ve even looked at a few houses. Regardless, you’ve got the itch to sell and you’re ready to make a move.

Before putting your Knoxville home on the market,  be sure to make sure you’re not making these costly home selling mistakes.

Incorrectly Calculating Your Bottom Line

When you sell your Knoxville home, your bottom line is much more than just the sales price and loan payoff. There may be closing costs, commissions, repairs and a home warranty. Be sure you’re taking all of these number into account when it comes to calculating your bottom line.

This is particularly important if you’re planning on buying another home after you sell. Be sure to talk with a loan officer prior to putting your Knoxville home on the market, so there are no hiccups once you’ve sold your home.

Weigh The Cost Of FSBO

Like many Knoxville sellers, you may be tempted to save a few bucks and try to sell your home on your own. While it may save you the commission, it may not save you money in the long run, it may actually cost you some money.

According to Realtor.com, the typical FSBO sold for $184,000, versus an agent assisted sale which sold for $200,000.  With agent assisted sales selling for more across the board, you’ll likely not save yourself any money by selling your house on your own.

In addition, don’t forget all of the headaches that come with trying to sell your own home. Having to negotiate a contract, screen possible buyers, and deal with showings, can be a real pain on your own. Not only will a realtor get you a higher price, they’ll take the stress off of you, as well as the liability.

Price Your Home High To Start

Even with the Knoxville real estate market transitioning back to a sellers market, it doesn’t mean that you should overprice your home to see what happens. In the current market, competitively priced homes are selling at list price and they are selling quickly.

When your home first hits the market, it is a hot commodity. You don’t want to waste it’s first few weeks on the market being overpriced. Many buyers will refuse to look at an overpriced listing, in fear that a seller will be difficult to work with.

Failing To Give Your Home Some TLC

Prior to putting your home on the market, it can be essential to be sure your home is in tiptop condition.

Simple things like freshening up your home’s curb appeal, repainting, and getting carpets cleaned can go a long way for buyers. Typically, buyers want a home they can move right into without having to do much work.

Spending a few extra dollars doing these things prior to putting your home on the market can go a long way for buyers, as well as for your bottom line. You can bet your competition is doing it, so you will want to up the ante, too.

Letting Emotions Rule

There can be a lot of emotions that come with selling your Knoxville home. It is a place you’ve come to love, invested time and money into, so know one would be surprised if you get a little emotional when it comes to selling your home.

Just be sure you don’t let your emotions rule the roost. Selling your home can be stressful and tough, but you want to be sure you think everything through with a clear mind.

Are you thinking about selling your Knoxville home this year? If so, do not hesitate to give us a call. Rick can be reached at 865-696-9002 or via email at [email protected]. Kati can be reached at 865-696-1888 or via email at [email protected].