10 Biggest Mistakes Home Sellers Make & How To Avoid

May 21, 2022 | General Tips

Do Not Make The Mistakes Many Home Sellers Do

Selling a home can be challenging. And if you haven’t sold a home before, you may not know what to expect or how to prepare. This article looks at the ten common costly mistakes first-time home sellers and even repeat home sellers still make — and how to avoid them.

Many home sellers, especially first-time home sellers are surprised to find that selling a home can be more complex than expected. It’s one thing to get your home ready to sell, but it’s another thing to do it right. Unfortunately, there are many mistakes home sellers make when trying to sell their homes.

Here are ten common costly mistakes that home sellers should avoid if they want to get the best price and sell their homes as quickly as possible:

Common Costly Mistakes to Avoid

 1. Not researching your local real estate market

Before you list your home for sale, research your city or town’s current real estate market. Find out what similar houses with similar features have sold for recently and what price range buyers are shopping in. This will help you determine a realistic asking price for your home and give you an idea of how long it might take to sell.

 2. Underestimating costs of selling

If you’re going to sell your home, there are several costs associated with the process. These include everything from hiring a real estate agent and staging your home before photos are taken through closing on escrow. Make sure that you have an accurate estimate for these expenses before deciding on a listing price for your home so that there won’t be any surprises once it’s time to sell.

 3. Not hiring a real estate agent

Selling your home can be a daunting task, especially if you’ve never done it before. While it’s possible to sell your own home without the help of an agent or broker, it’s highly recommended that you hire one. A professional will have access to resources that you won’t have and experience with the process, which means they’ll likely get more money for your property than you would on your own. Choose an agent who has experience in your neighborhood, who can help you stage your home correctly, price it competitively, and negotiate on your behalf.

 4. Pricing your home too high

If you set your asking price too high, it will be difficult for potential buyers to accept the offer you make on their homes. You might even scare them away entirely! Your goal is to sell your home for as much money as possible while still being reasonable about what the market will bear.

Too high of an asking price will make buyers balk at offering their price for fear that they’ll be paying too much for your house; whereas if you start with a reasonable asking price, buyers will be more willing to go above and beyond what they originally planned on offering because they know there’s room for negotiation on both sides.

 5. Skipping the home inspection

You cannot afford to skip having a professional home inspector inspect your home before putting it on the market. A thorough inspection will reveal defects and other issues that may cause problems for potential buyers — and you. The worst thing that can happen is that a buyer will back out of the deal at the last minute because they discover something unexpected after an inspection. However, even if a buyer doesn’t back out, they may be less likely to offer a full price or pay as much as they would have if they hadn’t found these issues during an inspection.

Along with the actual inspection of the home, many do not realize the importance of a pest inspection as well.

 6. Failing to clean and declutter your home

Most potential buyers want their new homes to feel like theirs immediately — not like those belonging to other people. That means making sure that it’s free of clutter, smells, and unnecessary personal items that may make it hard for buyers to envision themselves living there. So before listing your house on the market, take some time to declutter closets and remove old magazines from tables and other surfaces in the living room or kitchen. Also, remove personal items like photos from walls or counters so they don’t distract buyers from seeing what’s important—how they’ll live in your home if they buy it.

 7. Not making any repairs or improvements before you sell your home

If you want to ensure that potential buyers see your home in its best light, make sure it’s in good condition before putting it up for sale. This includes getting any needed repairs done, such as fixing broken fixtures or painting walls. In addition, if you’re planning on putting in new flooring or other cosmetic upgrades, now is the time to do it so buyers can see those improvements when touring the home with agents and potential buyers.

 8. Putting off staging your home for photos or showing it to buyers

 If you don’t stage your home or only partially stage it, buyers won’t be able to picture themselves living there — so they might pass on your property altogether. If you’ve never staged a home before, think of it as putting on an event every time someone comes over to see your house. You want everything to look its best and appear clean and organized so that buyers will feel comfortable there. Investing in professional staging services is worth every penny if it helps sell your home faster at a higher price point.

 9. Overlooking curb appeal

People often focus on what’s inside a house when they buy. But curb appeal is important too. A potential buyer’s first impression of your home begins with what they see outside your front door. If they don’t like what they see, they may move on without looking inside. So make sure you spend some time on landscaping and exterior paint colors, so your house looks its best from the street.

 10. Not disclosing known property defects

Homeowners rarely disclose known problems with their homes, such as leaky faucets or drywall cracks. But if you know of any issues with your house, reveal them to potential buyers so they can factor them into their offers.

 The Biggest Mistakes Home Sellers Should Avoid – Conclusion

The first time you sell your home, you may feel like you’re on a roller coaster. It takes time, effort, and money to get your home ready to market. You may encounter some unexpected twists and turns, but you can make the process more manageable if you’re prepared.

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