Before you have your home sold off in your mind, do not forget these vital seller mistakes that may come up throughout the process. You can set yourself up for success when you are aware of the setbacks that could arise along the way.
5 Mistakes to Avoid when Selling Your Home
Even if it’s a seller’s market, you can maximize your home’s selling price if you have a strategy ahead of time. Meet with a real estate professional to make a plan for selling your home, and keep in mind these common mistakes that you’ll want to avoid:
For Sale by Owner: When you see the percentage of your sale that you’ll be giving up to a real estate agent, you may be tempted to sell your house without help. This is a mistake. Homes listed by real estate agents sell for much higher than homes for sale by the owner. Buyers like the comfort of professional mediation, knowing they won’t get scammed when a real estate agent is involved.
Bad Photos: One of the biggest mistakes of selling a home is including non-professional pictures in the listing. Hiring a photographer will provide you with quality photos that maximize natural light, emphasize the space in your home and highlight the amenities your home has to offer. When buyers browse through listing after listing, they can easily spot the sellers who took their own photos. It’s not a good first impression.
Miscalculating Selling Costs: If you are already dreaming of the profit you will make on your house, do not forget to consider selling costs. Even after receiving a worthy offer, you will still have expenses after the inspection. For example, the buyer may ask that you replace the air conditioning or the roof. Keep this in mind, along with agent fees and closing costs.
Hiding Major Flaws: It’s never a good idea to try and hide a part of your house that needs repair. Whether you are covering a massive stain on the carpet or are not divulging details about a drafty window or faulty HVAC system, you will never win in the end. A savvy homebuyer will always order an inspection on the home before finalizing the deal. You do not want to try and get away with hiding needed repairs when they are sure to find out before closing on the house. Divulge this information before you receive offers so that you can stand by your transparency when they ask for concessions after the inspection.
Pricing It Wrong: The greatest thing you can do for the quick sale of your home is to price it right. A real estate professional will know what comparable homes are selling for in the area and price it accordingly.
As you learn about these common mistakes, you’ll be able to implement a plan that makes sense for selling your home. Of course, you want your home to fly off the market so you can move on to bigger and better opportunities. When you partner with an experienced real estate agent who knows all the best strategies, you can make that happen.
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Questions about real estate?
Do you have questions about your region's real estate market or market changes? We are standing by to help and answer any questions that you have. If you are unsure if it is the right time to sell or buy, you can seek help from experts who know the market. Our advisors will advise you on the right move for your family’s situation. If you are on a time crunch, you can seek counsel on how to best navigate the sale of your home during a buyer’s or seller’s market.