Common Mistakes When Selling Property

Most people only sell property every 4-7 years. Below are 5 common mistakes I see people make when they are trying to sell their property.

Pre-Inspect Your Property

The inspection process is where you lose most of your leverage in a transaction. Inspections are not cheap but they help you net the maximum amount for your property. If you know the issues your buyers are going to find it gives you the ability to get out in front of them and fix them before you go under contract. Buyers normally ask for 2-3x the amount it will cost you to fix inspection items. Fix them when you find them and you'll help maximize your sale. 

Finishes Matter

People buy finishes. Not all finishes require a lot of time and money. The best bang for your buck is paint and refinishing floors. Look to a qualified interior designer to help you pick finishes that buyers are looking for while working within your budget. Other items that offer significant returns are new hardware on cabinetry and tile backsplashes.

Lighting Upgrades

Many people are looking for good light in units. If you have developer fixtures or older lighting, replace a few key fixtures with unique pieces that help differentiate your property. Also, consider replacing older bulbs with new LED bulbs. They offer more light and offer significant savings from incandescent bulbs.

Details Matter

If your wall plates have yellowed replace them. Buyers use the condition of minor items as a proxy for overall care for your property. Remember you only get 1 opportunity to make an impression. 

Smart Homes Sell

The Nest thermostat and other smart home items not only set the tone for your home but buyers are looking for these 21st century luxuries. Nest and other smart home products are now heavily subsidized by ComEd. See the link here to find out which products are discounted through their program.