While most people understand that selling a home is not as simple as posting a For Sale sign in the front yard, many slip up during the process. Especially in today’s soft market situation, sellers need to invest more time, effort, and dedication to find good buyers. Here are some of the most common mistakes to avoid when selling your home.
Pricing Too High
Overpricing your home, especially compared to other houses on the market, is the best way to turn off potential buyers. Don’t just set an amount based off of how much you’d like to make from the sale. There are many factors to take into consideration when pricing, and many of them depend on your regional market.
Research how long and for how much homes that are similar to yours have sold for in your area. Real estate agents can be helpful, as they will often give you an estimated sale price, but a professional appraisal can also help you determine the fair market value of your home.
Choosing an Incompatible Real Estate Agent
Your real estate agent should work well with you, help you understand the market, and be dedicated to assisting you the whole way through. They shouldn’t become another stress to deal with. Choose a realtor that you feel comfortable working with, especially in terms of how you want to sell your house. They should also have a good professional background and be knowledgeable about selling homes in your area.
Many individuals have a realtor in the family or know one as a friend or near acquaintance. This can be an advantage, but could also lead to stress in your personal relationships if you conflict with them during the house selling process. There are many professional real estate agents to choose from, so find one that suits your needs best.
Not Having Your House in Good Condition
While no one wants to linger in the housing market forever, some sellers rush to put their house up for sale before its ready. Make sure your house is in good, presentable condition so it can compete with all the other properties out there. This includes making both the inside and outside look appealing and inviting. First impressions make a huge difference, especially since many buyers do a precursory drive-by before deciding if they want to come in for a showing.
If you’ve been maintaining your house regularly, you probably don’t need to make major renovations. Whatever state the property is in however, make sure to repair things that will easily scare potential buyers away. These might include fixing any leaks or damages, touching up or repainting the walls, replacing worn carpet, and addressing unpleasant smells. While minor repairs and touchups are a good idea for most, make sure to get sound advice from multiple sources before engaging in big remodeling projects, as they might not be worth the cost.
For those who need to sell quickly or have properties that need costly major repairs, consider the services of companies like Elite House Buyer, who will buy your home outright.