Selling your home is an emotional experience. You have countless memories in your Sanibel or Captiva home that no prospective homebuyer will understand the value those memories hold to you. The process can also feel foreign if you’ve never sold a home in the state of Florida or in a vacation marketplace like Sanibel and Captiva Island.
Here’s our advice…
1.) Don’t Become So Attached
Problem: You love your home and might have been living in its current condition for years, therefore, the small faults aren’t a big deal to you. However, potential buyers will not see the value of your memories or your creative workarounds to repairs when inspecting the property and formulating their offer price. Imperfections, both big and small, will leave a lasting impression on prospective home buyers.
Solution: Look at your property through the eyes of the buyer. Ask your Realtor® for critical advice on what to repair, replace and clean up. An experienced agent can point out the most important changes to make and offer suggestions for credible vendors to use. They can also help you see your home’s value for what the market truly supports with all emotions aside.
2.) Be Open To New Pricing Strategies
Problem: You might have your own opinion on what your home is worth. But it might differ from what the current real estate market on island will support. Be wary of the agent who places a higher price tag on your home than what the market statistics support. This is a common strategy used to obtain new listings and can cause a serious hindrance to the sale of your property.
Solution: Check the sales stats of the agents you interview to sell your home, and pay attention to their average list-to-sales price ratio and days-on-market. Also, know and understand the market statistics of comparable homes that have sold over the past six months. You should be open to different methods of pricing your home. Some strategies might seem contradictory to your selling goals, but can ultimately help your home sell for more than asking price. We’ve seen it happen!
3.) Disclose What You Know
Problem: Maybe the bathroom faucet on the second floor has a slow drip under the sink. Or, maybe the dip in the driveway floods when we have a downpour. Your gut instinct might be to hide this from your Realtor® and potential home buyers. But we encourage you to fix what you can and disclose what you know.
Solution: We’ve seen numerous instances where leaks and drainage issues pop up during the home inspection and cause the buyers to wonder what else isn’t being disclosed. The fear of the unknown can even aid the buyer’s decision to back out of the contract altogether. In some cases, homeowners even attempt to sue the previous homeowners for problems they feel should have been disclosed during the selling process.
Believe it or not, these are common mistakes we’ve experienced directly or indirectly that have caused setbacks for the homeowners trying to sell their island property. Concerned about something specific to your property or selling situation? Don’t hesitate to reach out with questions! We’re happy to walk you through the process and bring to your attention any hangups that we can foresee.