Selling your Orlando home can be an exciting time for homeowners depending on the circumstances. If your home is in great shape and you have a good amount of equity in it, it’s probably a joyous occasion for you. Other homeowners may be in need of an Orlando short sale realtor to get their house sold because there’s no equity in the property.
Unfortunately, some sellers start of on the wrong path when putting there house on the market. We had a client last year that wanted to sell an Orlando home in the Whisper Lakes area. It was a fixer upper and all it really needed was some paint, carpet and some minor drywall repairs. For some reason he thought that the home would fetch a higher price if he turned the 2 car garage into an extra bedroom.
Then against my advice as his Orlando listing agent, he spent an additional $4,000 and did it anyway! When he finished the remodel it was now a 4 bedroom 2 bath home [unofficially]. You see, he didn’t get the proper permits which meant the home was still a 3 bd 2 bth according to public records, which wasn’t even the real issue here. You see…people with cars like the option of keeping them in a garage. That’s why it’s called a garage!
In the end, this house was very difficult to sell because he eliminated the garage when most people would rather have a garage in the garage, not a bedroom. After several months on the market, we found him a buyer but, here’s the kicker…he had to give the buyer a $3,000 concession so that he could convert the garage bedroom back to a real garage! So even though he got his money back out of the property, he ended up not making a dime. The good news is that he now listens to the advice of his Orlando realtor.
Here are some of the most common mistakes made by sellers
- Listing a home before it’s ready. This is a huge mistake and it’s one that I’m guilty of as an Orlando real estate investor when I first started out. The key is to not give the buyers anything to complain about. Every room should look as good as it can including drywall, paint and carpets. The same goes for the kitchen and bathrooms, I’m not saying to spend a fortune on granite counter tops and solid wood cabinetry, just make sure everything works and looks presentable. Whatever work you plan on doing, make sure it gets done before you put it on the market. Most potential buyers won’t make a second visit if they didn’t like the first one.
- Making over-improvements. Building a pool, or adding another bedroom can be costly and there’s no guarantee that you’ll get a return on your investment and you probably won’t.
- Over-pricing your home. Again, this is where your Orlando listing agent earns their money. Allow your listing agent to do their job and provide you with solid comparable properties in the neighborhood that will help you arrive at the correct listing price for your home.
- Hiring the wrong agent. This is a big one! Make sure that interview at least 2-3 realtors that work in the area. Don’t use your niece because she just got her license last week. Hire an experienced Orlando realtor with a proven track record for selling Orlando homes for top dollar. The agent you hire should be an Orlando listing specialist with all the weapons to get the job done right.
- Making it personal. Whether it’s your home or an investment property that you’ve poured blood sweat and tears into…keep your emotions out of it. Once you put something up for sale, it becomes a commodity and should be prepared, treated and priced like one. A potential buyer couldn’t care less about what you “want”, it’s what the market will bear as far as pricing.
- Covering up problems. Don’t do it! If you know of a problem with the house that you know can become a safety issue or turn into a potentially much bigger problem, you should disclose it. Not only is it the right thing to do, but you can also get sued….even if you’ve already closed on the property.
Sell Your Orlando Home Fast For Top Dollar
As I wrote this article, memories from my past mistakes as an Orlando real estate investor kept popping up in my mind. Avoiding these common mistakes really isn’t that difficult when you seek the advice and listen to experienced real estate professionals. It’s something that I wish I had done when I first started in real estate. If you’re looking to sell your home in Orlando, no matter what the price, condition or situation. Seek the advice of an experienced Orlando realtor. You’ll be glad that you did!