Selling a home in Knoxville can be a complex and stressful process! It is easy to get confused and overwhelmed, especially if you have never sold a home before. You may have a preconceived notion of how the sale process should go, which can often result in using some tactics that could backfire and cause the sale to fall through.

Let's examine some of the selling habits that could sabotage your sale of a home in Knoxville.

Trying to Rush Through The Process

When selling a home in Knoxville, you might get a flurry of offers soon after listing the property. It can be tempting to rush through for a quick sale. Unfortunately, this can go wrong very quickly. Sometimes, when there is a high demand for properties, buyers will make an offer quickly without doing any due diligence. This means that they are more likely to have second thoughts or back out for one reason or another. This leaves you having to relist the property when the sale falls through. As a seller, you can avoid this by taking your time and carefully considering each offer. Work with your real estate agent to vet the buyers and look at their loan qualifications to determine who might be the more serious buyers.

Choosing to Forgo Concessions

When the housing market is favoring sellers, it can be tempting to be on the miserly side when it comes to concessions. Buyers are not as likely to ask for concessions when competing with other buyers. However, you should still agree to some concessions for the right buyer. If you are willing to be flexible and negotiate with sellers, you are going to attract more serious buyers which is going to increase the odds of selling your home at a favorable price.

Overpricing Your Home

When selling a home in Knoxville, it is essential that you price the property appropriately. That means taking advice from real estate professionals and looking at comparable listings in your area. When it comes to your home, you are going to have a natural bias. You've invested time and money making it look the way it does, and it's natural that you want it to sell for a high price that reflects your hard work. However, the reality is that this is mostly an emotional connection, and buyers are not going to be so invested. They will see you trying to sell a home for over its market value and be put off. Listings see the most action in the first 30 days, but if your home is overpriced, buyers will pass on it, and you will end up losing momentum even if you later reduce the asking price. The longer it is on the market, the more likely buyers are going to lowball their offers in case you are becoming desperate to sell. It is important to do your research and choose an asking price that is realistic for the current market.

Getting Hung Up On Selling 'As Is'

If you don't have the time or money to invest in your property to get it ready for sale, for example, if it is an inheritance you want to sell quickly, you might decide to list it as 'as is.' This tells the seller that the property is being sold in the current condition and no repairs will be made. Unfortunately, if you go down this route when selling a home in Knoxville, you could find that you have drastically limited your pool of potential buyers. While some buyers may be interested in a fixer-upper, others may not be interested in renovating their new home or may not be able to secure financing for a property in poor condition. You might find that it is necessary to regroup and do some of the essential repairs that would otherwise hinder financing, such as fixing the roof or dealing with any structural issues.

Getting The Timing Wrong

When selling a home in Knoxville, timing can be a huge factor. While people do buy homes all year round, statistically, spring is the best time to sell. The weather is better for visiting different neighborhoods and buyers are keen to get settled into a new home before the new school year begins. While you may prefer to wait a little longer to put your home on the market because you are not yet ready to move, doing so could be the difference between selling your home for the maximum price and having to accept a lower offer. Talk it through with your real estate agent and come up with a strategy based on the local housing market in your area.

Leaving Pets in the Home

If you are a pet owner, your animals are likely a big part of the family, but potential buyers may not be animal lovers, or they may have allergies. If you have showings booked, it is better to take your pets out for the day so that buyers are not put off by them. It is also important to clean up the yard - the last thing you want is a buyer stepping in dog poo! Similarly, if you have cats, you will want to make sure the litter boxes are clean - or even remove them altogether for the duration of the viewing or open house.

These are just a few of the mistakes you will want to avoid when selling a home in Knoxville, otherwise you may find that you have self-sabotaged the sale! Ask you real estate agent for some tips on how to make the process of selling your home as stress-free as possible.

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Wright Realty is a full-service real estate concierge with a wholistic approach to buying and selling property in East Tennessee. We are your trusted advisor and keep open communication throughout your entire buying/selling process. Real Estate done "Wright" means more than just a 'transaction'.

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