Selling your home is a major life decision, and half the battle is anticipating problems before they arise. There are so many steps to consider when selling your home, from preparing to list, making necessary repairs, finding a buyer, navigating the closing process, and finally moving into your new place. The consequences of a mistake in the selling process can impact your finances and cause a lot of extra stress in your life.
So, before you take the leap into selling your home, we have put together a list of the most common seller mistakes and how to avoid them in the first place.
Underestimating the Costs of Selling a Home
The total cost of selling a home can add up to much more than just the agent commissions most people expect to pay. When you consider closing costs, repairs, and other concessions to the buyer, the cost of selling can add up quickly. One tip would be to estimate your net proceeds and find out the amount of money you could pocket after selling costs are accounted for. Knowing this before you list could help give you a better idea of your budget for your next home.
Choosing Not to Stage Your Home
Staging your home might not sound like a big deal, but choosing not to could end up being a huge home-selling mistake. Most agents would say that staging your home has a dramatic effect on selling it faster, and according to the National Association of Realtors, 85% of staged homes sold for 5 to 23% over their listing price, and a staged home spends 73% less time on the market than a non-staged home.
Ignore Major Repairs
A long list of maintenance issues can turn buyers away and potentially decrease the value of your home, and most importantly, your buyers expect the condition of your home to match the description. Take some time to prioritize the most noticeable issues, like items that are broken or items that can affect the safety, structure, or functionality of the home. Many buyers will require a home inspection before closing.
Using Listing Photos that are Poor Quality
The majority of buyers these days won’t even consider seeing a home in person until they have looked through pictures online. So, if your online photos look like you took them with the camera on your phone, you could lose buyer interest before they even pull up to the curb. It’s really important to work with a professional who knows how to make your home shine online!
Take a Low Offer Personally
A buyer’s offer is not a reflection of their opinion of your home. If they are making an offer, it already shows they are interested. Most buyers want to make sure they get the best deal possible, and a low offer is a great starting point into negotiations. Don’t take it too personally, in the competitive real estate market today, a great offer is bound to be right around the corner.
Selling at an Unrealistic Price
Trying to place a precise value on a home can be a difficult task, especially considering the nature of a constantly changing market. You may have a general idea of what your home is worth based on homes that have sold near you that are of similar size. This is where an experienced real estate agent can step in and help suggest a listing price that will allow you to sell your home quickly and at top dollar.
Choosing the Wrong Agent
If you choose to work with a real estate agent (and we strongly suggest you do), make sure they have your best interests at heart. To help ensure you are getting top dollar for your home, take the time to interview potential real estate agents and make sure they have the experience selling in your particular area and price point. We have a great blog post highlighting the top qualities to look for in a real estate agent.
Hanging Around for a Showing
When potential buyers come to see your home, it’s best when they can imagine the home as their own. If you choose to hang around or think it’s too much of a hassle to leave for a little while, this could complicate the process and create an awkward situation with your potential buyers and agent. The goal is to accommodate as many buyers as possible, even if the process is inconvenient.
At the end of the day, we all want the home selling process to go as smooth and painless as possible. When you are aware of the most common seller mistakes to avoid when selling your home, you can be more confident when something doesn’t go as planned. All of our agents at Marsh Landing Realty are experienced in the home selling process and are ready to help you from beginning to end. Contact us today to get started!