8 Top Home Selling Mistakes You Should Avoid

home selling mistakes you should avoid

The real estate market can be challenging, making the home selling a stressful time. When you’re listing your house, whether you’re going with a traditional realtor or you’re selling to home investors, there are a few mistakes to avoid if you want to realize the best return on your home’s equity.

1. Choosing the Wrong Agent

When you’re listing your home for sale, you’ll be working closely with your real estate agent so it’s important to find someone that you “click” with. The right real estate agent can work with you, showing your home around your schedule and give you advice on things you can do to improve your chances of getting a top-dollar offer. The wrong agent, however, may mismanage the sale, may not give you the best ideas for pricing or may be disruptive when it comes to tours and open houses.

2. Pricing Incorrectly

Pricing unwisely can be one of the biggest home selling mistakes because it has a big effect on the success of your sale. Depending on your home’s condition and location, the price you get can vary widely. If you price too low, you may leave money on the table, but priced to high, your home may not receive any offers.

3. Spending Repair Budget Unwisely

Most buyers don’t wish to spend a lot of money fixing a home while they’re still unpacking. A few repairs can go a long way, especially for things like plumbing or the roof. Other things, however, you may be able to let slide a little, such as upgrading appliances or replacing the carpet.

Certain things should always be on your repair checklist. Anything that makes your home unliveable, like broken windows, mold, or pests, needs to be addressed immediately. Other things, like a fresh coat of paint or power-washing the exterior, are inexpensive fixes that go a long way to improving the overall appearance of your house.

When you’re selling to home investors, however, you may be able to get away with making fewer repairs. Many of these investment companies prefer to flip the homes and either rent them out or resell them and will handle much of the repair work themselves.

4. Underestimating the Costs Involved With Selling

Many people know that when selling a home, they can expect to pay a percentage to their real estate agent. In fact, home sellers typically pay both agents’ commissions, part of concessions that buyers ask for at closing, so just in commissions alone, you’re paying an average of 5-6% of the selling price. There are other costs involved in selling, too. You may need to make deposits for utilities in your new home and, if you de-cluttered the house before listing it, pay for a storage unit, too. If you’ve sold your house before moving into your new one, you may also need to pay for temporary accommodation. Factor in the cost of any repairs, and you could easily be looking at 10% of your home’s selling price spent on selling it.

5. Skipping the Marketing

Simply placing a For Sale sign in your front yard may not be enough to land you a great offer. Marketing your home, especially online, is an integral part of selling that some people forget. Making your home appealing to buyers begins with a great set of photos, showcasing all the unique features of your home in the best possible light. Many buyers – 44%, in fact – browse online for potential houses before they contact their realtor for a showing.

Making sure that you’re visible to buyers is important, too. Your real estate agent can coordinate advertising your home, including hosting open houses, but there’s plenty you can do, too. Posting a link to your house photos on social media and passing along through word-of-mouth can help you attract more attention.

6. Becoming Too Emotional

Your house is an investment. Repeat it, your house is an investment. It’s not unusual to become emotionally attached to your house, especially if you’ve made memories or raised a family there. If you’re too invested in the sale of your home, it may not be time to move yet. One piece of advice that many realtors offer is to not be present during home tours. Buyers don’t have the same attachment to your home and can be critical with their comments. It’s generally better to remove yourself, both so that buyers can be more comfortable looking around and so that your feelings are spared.

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7. Forgetting the Staging

Staging your house involves many different things. One of the most important things you can do is to de-clutter and de-personalize your home. Buyers want to imagine themselves living in the house, so paring down the family photos and knick-nacks will help them better envision themselves in the space.

Tere’s a sweet spot between having our home be too cluttered – makes it look smaller – having it completely empty. Editing your furnishings to only have the best and minimal décor gives buyers an idea of what will fit in each room without being too overwhelming. Things like live plants and fresh flowers are always a nice touch.

8. Missing an Opportunity to Sell For Cash

If you don’t have the time or money to make extensive repairs, and you want to avoid any of these home selling mistakes, selling your house to an investor may be a viable option. Investors typically have their own financing, so there’s no waiting for a buyer to get a mortgage approved. Investors can often go from a fair market value offer on your house – no matter the condition – to closing in a matter of days.

If you need to sell your home quickly, Need To Sell My House can help. We’ll make you an offer on the spot, with no obligation to you. Visit us online to find out more!

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