Category Archives: home seller mistakes

6 Mistakes to Avoid When Selling Your Home

Share

puzzle in shape of house for saleYou’ve heard of ‘must-haves’ during a home search? We’re turning the table on this common saying, and delving into the ‘must-nots’ of home selling; you know, the mistakes a seller makes when listing their home for sale—and how you can avoid them when putting your home on the real estate market.

Making decisions based on emotions

To be fair, most homeowners don’t intend to make emotional decisions when selling their property. If you want to get the best sale price for your home, and not get stuck with a house sitting on the market, you need to shed all of the feelings you have for your home. Listen to your real estate agent’s advice, and make as an unbiased of a decision as possible.

Using the wrong numbers to price your home

This is the most common home selling mistake by far; sellers want to use the amount they owe on the property, the numbers listed on their property taxes, or the selling price their neighbor’s house sold for. The latter item is the closest to the right way to price a home, if the neighbor’s house is a comparable property. A comparable property is a home that is similar in square feet and lot size (as well as few other factors). If you contact a realtor, they can compile a list of comparable properties in the area that have sold and make a suggestion for a fair selling price based on local sale prices.

Figuring “we can always lower the price later”

Yes, you can drop your selling price later, but you’re missing a prime opportunity to set a good impression with potential buyers. A property that is not priced fairly is a home that sits on the market, making potential buyers wonder what’s wrong with it—or if you’ll accept a low ball offer. Find an excellent local real estate agent that can help you determine the right price for your home, and take their advice right away—as soon as you put your home up for sale.

Not preparing your home for sale

The perfect home for sale is clean, staged for a quick sale, and clear of any red flags that could kill the sale. Clean your home with a white glove approach. Scrub your toilets, sinks and tubs. Mop and vacuum your floors. Carpet clean any carpets that are stained. If you have a lot of “stuff” in your home, rent a storage unit for personal effects, knick knacks, large items that take up a lot of floor space—anything that fills up a room and doesn’t allow buyers to see the size or selling features of a room. Resist the urge to throw all of those items in one room; you’ll repel potential buyers who are intimidated by your pile of stuff.

Choosing the first real estate agent your find

Don’t just flip open the phone book, close your eyes, and randomly point to the name of a realtor on a page. Use our tips for selecting the right real estate agent to sell your home. A good realtor is experienced, familiar with your area, and has good communication skills. Don’t wait too long to bring the right real estate agent on board; contact a realtor via phone, email or social media right away so you can use their advice to prepare your home for sale.

Ignoring red flags

The scary part of this mistake is that you can’t always see red flags that could kill the sale of your home. Hire a home inspector to find those red flags before you put your home on the market. A good home inspector can pinpoint any problems that could turn off a potential sale, such as foundation issues, electrical problems, water damage—the list could go on and on. If you find these problems before your home hits the market, you can control how much it costs for repairs so you don’t have to deal with delays to your closing date or a loss of a potential sale.