How to Reduce the Stress of Selling a Home
Posted by Justin Havre on Thursday, July 18th, 2024 at 7:29am.
Selling a home can be stressful from start to finish. There's so much riding on a home sale that many homeowners spend the time selling their home sitting "on pins and needles," as they say. It's hard not to worry. From the moment that a home is put up for sale, homeowners must ask themselves: what will we do if the home doesn't sell for enough money? What if it takes too long to sell? These questions and concerns are valid. Fortunately, there are things that you can do to make the home-selling process go more smoothly.
Below, we've listed the most common reasons sellers are stressed out when trying to sell their homes and what we suggest homeowners do to manage these fears.
For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.
Stressed About Selling Your Home On Time?
Most homeowners need to sell their homes by a deadline. If they can't sell their homes by the time their new job begins or they've started paying the mortgage on their new property, they could experience hardship.
What to Do About It
Begin by understanding the average time homes take to sell in your area. If you're worried about your house not selling a week in, but the average selling time in your area is two months, simply knowing that can help put your fears to rest. Work with your real estate agent to set a realistic timeline based on current market conditions. This helps manage your expectations and allows you to plan your next steps more effectively.
If you're pressed for time, consider getting a cash offer on your home. Cash buyers can often close in two weeks or less. Even if you're on the fence about the offered price and think you can get higher, you can keep the cash offer in your back pocket and continue the traditional route—many cash offers are good for 60 days. Just be sure to weigh the pros and cons of selling for cash, as choosing the wrong route may increase your stress.
Homeowners can also help their homes sell more quickly by pricing them correctly. A house priced too high for its worth could take a long time to attract the right buyer and may never attract the right buyer if it remains priced too high. Incorrect pricing can be avoided by working with a real estate professional who understands the area's real estate market and who knows how to analyze the prices of comparable homes in the area.
Consider offering incentives. Covering closing costs or including a home warranty can make your home more appealing to buyers. These small gestures can sometimes expedite the sale process by making your offer stand out. Talk to your real estate agent about the most cost-effective ways to attract buyers fast.
Make your home available for showings as often as possible, even on short notice. The more potential buyers who see your home, the greater the chance of receiving an offer quickly. Coordinate with your agent to manage showings efficiently and minimize inconvenience.
Homes tend to sell quickly at certain times of the year. If you have the luxury of choosing when to sell your home, putting the house up for sale at a time of year when buyers are looking can help the home sell faster.
Stressed About Timing Your Home Sale with a Home Purchase?
Selling a home and buying a home at the same time can be an especially touchy process. Usually, home sellers want to sell the home shortly before the purchase of their new home is final. Home sellers often worry that their home will either sell too soon before the purchase of their new home or that their home will take a long time to sell after their new home has been bought. Both situations can lead to financial hardship for the homeowner.
What to Do About It
Homeowners who want to time the sale of their new home purchase properly should work with an experienced real estate professional for both the sale of their old home and the purchase of their new home. Having a partner who can help them at both ends of the transaction can help with the timing.
Despite your best efforts, unexpected delays can occur. Prepare for potential timing issues by having a contingency plan in place, such as temporary housing or storage solutions, to manage any gaps between selling your current home and moving into your next one.
Stressed About Determining a List Price?
Setting the right list price for your home can be a significant source of stress. If you price it too high, you risk scaring away potential buyers; if you price it too low, you might not get the full value your property deserves.
What to Do About It
This balancing act involves understanding the current market, evaluating your home's condition, and anticipating buyer behaviour—all things a good real estate agent is ready to help you with! But if you want something you can do yourself:
Start by researching the local real estate market. Look at comparable homes (often referred to as "comps") that have sold recently in your neighbourhood. Pay attention to their final sale prices, the time they spent on the market, and how they compare to your home in terms of size, condition, and amenities. Find out whether you are in a buyer's market or a seller's market.
Hiring a professional appraiser can provide an unbiased estimate of your home's value based on a thorough evaluation of its features and the current market conditions. This professional opinion can give you a solid starting point for setting your list price. Keep in mind, though, that an appraiser's estimate is often a range and may not take into account pending comps.
It's important to set a realistic price based on your research and expert advice. However, be prepared to adjust your price if your home isn't getting the desired interest. Flexibility can be key to finding the right buyer.
Stressed About Selling Your Home for the Desired Price?
Most home sellers have a target price they're aiming for when they put their house on the market. They often feel anxiety when they wonder what will happen if they don't sell their home for the right price. When an offer comes in below the expected price, this can create feelings of hesitation. Do they accept the offer or not?
What to Do About It
This is another reason to work with a real estate professional who knows how to analyze the price of comparable homes in the area. A capable real estate professional can help set expectations so homeowners know what to expect when they put their homes on the market. Although real estate professionals can't predict the future, they can often help homeowners decide what price is realistic, so hopefully, the homeowner won't be expecting a price that is much higher than it should be.
If an offer is too low, an experienced agent can help you choose the best negotiation strategy and evaluate your chances of receiving a better offer later.
Stressed About Finding the Right Agent?
Selecting the right real estate agent is crucial to the success of selling your home. An experienced and knowledgeable agent can guide you through the complex process, help you avoid common pitfalls, and ultimately secure the best possible price for your property. However, if you choose an agent who's a bad fit or who doesn't have the necessary skills, you could have a nightmarish home-selling experience.
What to Do About It
Start by asking friends, family, and colleagues for referrals. People you trust can provide valuable insights into their experiences with different agents. Additionally, research online to find agents with positive reviews and a strong local presence.
Don't settle for the first agent you meet. Interview at least three agents to compare their strategies, experience, credentials, and knowledge of the local market. Ask about their track record, how many homes they have sold in your area, and their approach to marketing your home.
Effective communication is key to a smooth home-selling process. Pay attention to how promptly and clearly each agent responds to your inquiries. Choose an agent who listens to your concerns, provides clear explanations, and keeps you informed throughout the process.
Understand how each agent's commission works and what services are included. While a lower commission might seem attractive, it's important to balance cost with the quality of service and the agent's ability to negotiate the best price for your home.
Ultimately, trust your instincts. Choose an agent you feel comfortable with and trust to represent your best interests. Selling your home is a significant financial transaction, and you need an agent who is not only competent but also someone you can work with closely.
Stressed About Picking the Right Offer?
Receiving offers on your home can be exciting, but choosing the best one can be stressful. It's not always as simple as accepting the highest bid. There are multiple factors to consider, such as the buyer's financing, contingencies, and timing. Making the right choice requires careful evaluation and strategic thinking.
What to Do About It
While the offer price is important, it's not the only factor to consider. Look at how the price compares to your asking price and recent comparable sales in your area. A slightly lower offer might come with better terms, so weigh the overall value.
Review the buyer's financing method. Offers with pre-approved mortgages or cash payments are generally more secure than those contingent on financing. A higher earnest money deposit also demonstrates commitment. A financially stable buyer reduces the risk of the deal falling through.
Offers often come with contingencies, such as inspections, appraisals, or the sale of the buyer's current home. Fewer contingencies usually mean a smoother transaction. Evaluate the impact of each contingency on the timeline and certainty of the sale.
The timing of the closing can be crucial, depending on your situation. Some buyers may offer flexible closing dates that align with your plans, while others may need to move quickly or have specific timing requirements. Choose a timeline that works best for you.
Some buyers include personal letters explaining why they love your home. While this shouldn't be the sole basis for your decision, it can provide a personal touch that helps differentiate similar offers.
Worried About Offers Falling Through?
Once an offer does come through, it takes a while before the home is officially sold. During that time, the offer can always fall through. Homeowners in a hurry to sell their homes quickly often feel anxiety that they will not be able to stop the offer from falling apart.
What to Do About It
Work with your real estate agent to thoroughly vet potential buyers. Look for buyers who are pre-approved for a mortgage rather than just pre-qualified—if they're not, it's a red flag. Pre-approval indicates that the buyer's finances have been checked and verified, reducing the likelihood of financing issues later on.
Offers often come with contingencies. While some contingencies are standard, others can add unnecessary risk. Assess each contingency carefully and consider negotiating terms that reduce the chance of the deal falling through.
Keep clear and open lines of communication with your buyer throughout the process. Regular updates and prompt responses can help address concerns before they become deal-breakers. Your real estate agent can facilitate this communication to ensure all parties are aligned.
Home inspections are a common point where deals can fall apart. Before listing your home, conduct a pre-inspection to identify and address any potential issues. By fixing problems in advance, you reduce the risk of surprises that could derail the sale.
Even with the best precautions, some deals may still fall through. Have a backup plan in place, such as keeping a list of other interested buyers or being prepared to relist quickly. This can help you recover swiftly and minimize the impact on your selling timeline.
Stressed About the Unknowns in the Selling Process & Timeline?
Lack of control over the selling process and timeline can make some homeowners feel like they're out of control generally, which can lead to overall feelings of anxiety. If you need to move out quickly, that'll only add to the stress of unknown factors.
What to Do About It
Homeowners who feel anxious about the home selling process and timeline should write down a list of questions for their real estate agent at the start of the process to help them feel like they know what to expect throughout the transaction. It's important to find a real estate agent who is a good communicator and can help the home seller understand what's happening throughout the process. Most home sellers have a greater feeling of control over the selling process if they know what to anticipate every step of the way.
Stressed About Preparing Your Home For Sale?
Homeowners often feel a lot of pressure to make their house look "perfect" without really knowing what buyers want. They often put effort into home improvements without knowing whether those improvements will pay off.
What to Do About It
Homeowners can assuage these concerns by setting up a consultation with their real estate professional before listing their home. A good agent can give you advice that can help you decide what home improvements are most important to make now.
You can also research online about home improvements with the highest ROI. While this can be situational—if your roof is only a few years old, for example, a replacement won't have the full impact—it's a good place to start.
Prioritize health and safety concerns over cosmetic defects. A home inspection will catch these, so you'll likely have to take care of them regardless. Putting them first will help you not overextend your repair budget. And if overwhelming repairs are what's stressing you out, know that there are plenty of cash buyers who will give you an offer for your home in "as-is" condition.
Remember that no reasonable buyer expects a truly perfect home. In addition, most buyers will have tastes different from yours. Take a moment to breathe, and don't jump into an extensive renovation without getting an objective second opinion on whether it's really worth it. Investing in upgrades that won't benefit the sale is a common, but often costly, home-selling mistake.
Worried About the House Not Selling?
Sometimes, when a house sits on the market for a long time, home sellers may become concerned that buyers are not interested in their house. This can happen for many reasons. If the house is priced incorrectly, or if the house is not in good condition, then buyers can be hard to bring to the table.
What to Do About It
Often, sellers find it hard to believe that their home is not attractive to buyers. Sellers expect their house to be attractive to buyers because it is attractive to the sellers. This kind of perspective can make it difficult for sellers to make their homes more appealing to buyers.
Sometimes, painting a room can be helpful. Other times, the house needs to be repriced. If you've had showings but no one's biting, ask your agent to get feedback on what's turning them off.
If you're not getting showings, most of the time, you need to look at your pricing strategy. Reevaluate nearby comps and consider lowering your listing price.
However, you can also look at your agent's marketing strategy and work on your home's curb appeal. Make your home as conventionally attractive as it can be in the online listing—that's where most buyers start.
The selling process can take time, and it's important to stay patient and positive. Sometimes, you're just having to deal with selling a home in a slow market. Trust your real estate agent's expertise and remain open to their suggestions. A little patience and persistence can make all the difference.
Worried About Handling Negotiations with Buyers?
Negotiating with buyers is one of the key parts of selling a home, but many homeowners have little or no experience selling much of anything. This makes negotiating with buyers stressful because most home sellers feel unprepared and unable to handle the negotiations themselves. In general, most people like to avoid conflict—but in a transaction this important, it's vital to prioritize your best interests.
What to Do About It
The best thing that home sellers can do to negotiate with their buyers is to work with a trustworthy real estate professional. It's also important to listen to that real estate professional as they often give advice to sellers. However, it is the seller who is ultimately in control of many of the actions that the real estate professional takes when trying to sell the house. Working together as a team, the real estate professional and home seller can help make the negotiating process better overall.
Stressed Out Over Keeping the Home Clean for Showings?
Sometimes, it takes several home showings before a buyer makes an offer on a home. In between those tours and showings, home sellers often spend hours cleaning and staging their house. This can lead to wasted time, stress over keeping the house looking its best, and even fights among people in the household as everyone feels pressure to keep their house clean.
What to Do About It
Develop a daily and weekly cleaning schedule to ensure your home remains in top condition. Break down tasks into manageable chunks, such as dusting one day and vacuuming the next, to avoid feeling overwhelmed. Pay extra attention to high-traffic areas like the kitchen, living room, and bathrooms. These areas are where potential buyers will spend the most time and notice details. Keep countertops clear, appliances clean, and surfaces polished.
Have a set of cleaning supplies easily accessible for quick touch-ups. A portable caddy with essentials like multi-surface cleaner, glass cleaner, paper towels, and microfiber cloths can help you quickly address spills and messes.
Keep clutter to a minimum by purging unnecessary items. Store away personal belongings, toys, and excess decor. Think of it as getting a head start on packing up to move out! Use baskets or storage bins to quickly tidy up items that need to stay out but can be hidden away during showings.
If you have family members living with you, enlist their help in maintaining cleanliness. Assign age-appropriate tasks to children and ensure everyone knows their responsibilities to keep the house tidy.
Make it a habit to do a quick sweep of the house before leaving each day. This way, your home will always be ready for last-minute home showings without causing a rush or stress.
For many homeowners, the solution to staging and preparing the house between showings is to have it professionally cleaned on a regular basis. Some homeowners even hire landscapers to cut their grass, water their plants, and weed their gardens to boost curb appeal. Having professional resources on hand can help reduce the anxiety of maintaining a home.
Stressed About Getting Out of the House for Showings?
During tours and open houses, the homeowner leaves their home open for anyone who wants to come in and take a look at their possessions. For some homeowners, doing this can be very challenging. Leaving the home open for anyone to wander in means making the house vulnerable to scrutiny and perhaps even security concerns, especially for those who need to keep children safe during showings. This is not easy for some homeowners.
What to Do About It
There are many things that home sellers can do to assuage their own concerns. To begin with, making sure that valuables are hidden in a safe location is an easy way to lower security risks. In addition, it's also important to work with a real estate professional who will keep a watch over the belongings in the house while the house is being toured by potential buyers. This helps keep the items safe and can even help keep the house itself safe.
Listening to their real estate professional about staging tactics can leave the house seeming less vulnerable overall. Most staging tactics involve putting away personal items that would make the home seem a little less generic and a little more intimate. Not only does this make the house more secure, but it can also lead to bigger offers from home buyers.
For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.
How to Work With a Real Estate Agent to Eliminate Selling Stress
Selling a house is stressful. Feeling stressed out when you're preparing to sell your home is entirely normal. When the time comes to sell your home, the most important thing you can do to make the home-selling process easier overall is to work with a real estate professional. They can help you by providing advice and guidance throughout the home-selling process, interacting with potential buyers, and taking on quite a few of the tasks involved in getting your home on the market and sold. But don't forget to take some time for self-care. While selling a home is stressful, there's a light at the end of the tunnel.