6 of the Most Common Mistakes to Avoid when Selling a Home
1. Pricing your home too high
This is one of the most common mistakes that I see. Often times, people will price their home higher than its market price, and if the market is not in the seller’s favor, the house could end up sitting for longer than anyone would want.
This is why I stress the importance of knowing what your home is worth and not overvaluing it to the point where you price it too high.
2. Not making necessary renovations or repairs before listing
If there are any major repairs or necessary renovations that you know you should do but are waiting on it, I urge you to just bite the bullet and get it done. When you reach the inspection portion of the sale period, chances are you’ll have to make any significant repairs then regardless. So, by taking care of any issues earlier, you can close faster and run into fewer issues down the road.
By doing this, you also fix up your home, so it shows better as well!
3. Maintaining your home while it’s on the market
After you list your house, the presentation period is not over, it’s just beginning! You might already have beautiful photos and videos of your home’s exterior and interior, but if you don’t upkeep your home while it’s on the market, you risk turning away buyers when they come to see it.
Make sure you continue to clean, maintain, and tidy up your home while it’s listed. This applies to both if you are still living in the home or if you have already moved as well! Clean properties stand out – be one of them!
4. Limiting how often you show your home
When listing your home, you need to understand that in order for it to sell, people have to be able to see it when they can (not always on your exact schedule!) Yes, this will take sacrifice, however, by making your home available and accessible to potential buyers more often, you drastically increase your likelihood of a sale.
If you don’t live on the property, I would encourage you to use a lockbox on the property if you are comfortable. By doing so, you allow for agents with their clients to come by any time to see the home. This is one of the easiest and most efficient ways to show your home, hassle-free!
If you aren’t comfortable with a lockbox or are living in the home, talk with your agent about setting up showing times. Coordinating times when you can leave your home for potential buyers to come by ahead of time can really help with the pressure of showings.
5. Not accounting for home selling costs
Before you close on the home, you have costs to account for, and often times, people neglect this fact. You have general closing costs, moving costs, inspection or repair costs, agent commissions, and so forth that you need to consider.
Prepare ahead of time for these expenses to best prepare yourself for selling your home!
6. Selling your home by yourself
Finally, the last mistake that I often see people do when selling their home is trying to do it by themselves! There are a number of factors that can be tricky if you are choosing to sell your home on your own, such as contracts and logistics of negotiation in a real estate transaction.
Additionally, you place yourself at a disadvantage when you don’t list with an agent who has the proper knowledge of the market. So, find a reputable agent that’s right for you and see the advantages first-hand!