How do you avoid selling your house for less than it is worth?
The number one reason people lose money on their home sale is underpricing. They think their home is worth X. They don’t research the value. That is why it is so critical you have a true understanding of the value of your home in today’s market. They put their home on the market, sell it for less than it’s worth, and if they realize it, it may be too late.
Many people don’t realize the development potential of their property. They may hire an agent who isn't familiar with the area. In this case, their agent may not realize the development potential, or be familiar with the Official Community Plan (OCP).
Some sellers don’t hire a REALTOR® at all and don’t take advantage of all the services that an agent can provide, such as having the property advertised on the MLS® and other marketing media, handling viewings, negotiating contracts, facilitating subject removals, closings and possession, as well as assisting in any issues that may crop up after moving in. The process can be very stressful for someone without experience, and it can cost them not only money, but time.
Anyone can lose in the real estate market. Any seller unfamiliar with the market risks selling their home for less than it is worth. In most cases, you would never even realize it. Knowing the true value of your home protects you from settling for less money than you deserve.