For the last few years, most of the U.S. has been in a “seller’s market,” which means there are more buyers looking to buy than owners looking to sell. However, there is still the possibility that you can make mistakes, which can wind up costing you time and money. When you are ready to sell your own home, these are some of the mistakes that you will want to avoid. Read on to discover more.
Mistake #1: Working With the Wrong Real Estate Agent
If you are hoping to sell your home as fast as possible, then you need to work with the right real estate agent.
In an effort to avoid paying a commission and keep as much money as possible, many people try to sell their homes by themselves (for sale by owner, or FSBO).
While you always have this option, the truth is that you typically will wind up making less money on the sale of your home than if you had worked with the right real estate agent.
Finding the right agent means that you will get a partner who is committed to and invested in working with you to sell your home.
They will know exactly where to post the listings—both online and offline—and will have connections to other agents who have access to buyers. They’ll also know how to market your property to ensure that your house gets seen by as many people as possible (creating demand) to increase your chances of selling as soon as possible.
Mistake #2: Asking the Wrong Price
One of the biggest mistakes that most people make when trying to sell their home is listing at the wrong price. If you go too high or too low, you are hurting your chances of maximizing the sale price of your home.
When you work with the right real estate agent, they’ll be able to help you set the asking price so that you can get as much out of it as possible.
Since they have knowledge about the local market and will know what price point any upgrades are worth, they are your best resource when it comes to knowing what price to ask for your home.
Mistake #3: Not Getting Your Home Ready for Showings
When potential buyers come and look at your home, they want to be able to imagine themselves living in the space. Thus, you need to make it possible for them to achieve that goal.
You might also consider repainting the inside of your home with neutral colors, which include grays, creams, and whites.
It’s also a good idea to make sure your landscaping is immaculate. The first thing potential buyers will see is the outside of your home.
To make a good impression, make sure the lawn is mowed, the trees and shrubs are trimmed, and your property is devoid of trash.
Mistake #4: Trying to Hide Problems
While you are getting your house ready for showings, don’t make the mistake of trying to hide problems. Many people try to paint over cracks or other wall damage or hide chipped tiles or scratched hardwood floors under rugs.
Don’t do this.
If a buyer figures out that you were trying to hide problems, they may become suspicious and wonder what else you are trying to cover up.
It’s normal for a home to have some imperfections. If they are minor cosmetic issues, consider getting them fixed properly.
Should there be larger problems, make buyers aware. They may be willing to overlook some issues if they really like what the rest of the house has to offer.
Mistake #5: Selling Your Home As-Is
Speaking of a home having damage, one of the biggest mistakes people make when putting their house up for sale is “selling it as-is.”
Immediately when people see this in a listing, they will assume that there are major—and expensive—repairs that need to be done to the home. And they may decide to avoid your home like the plague.
If possible, make the necessary repairs and upgrades to the home to make it appealing to a wide range of buyers. You can always make your money for renovations back by appropriately increasing the list price of your home.
Of course, there are times when selling the property as-is might be necessary. Make sure to talk to your real estate agent to find the best way to achieve this goal so that you can sell the property quickly and get the most money you can out of it.
Mistake #6: Not Being Committed to Sell Your Own Home
Many people are curious about how much they may be able to get for their home, so they will put their house on the market just to see how many people are interested.
If you are going to sell your home, you need to be committed to the sale.
To make sure your property sells, you need to take the time to get it ready for showings and commit to the marketing process.
Buyers will be able to sense that you are making a half-hearted attempt to sell your house, and they may not be willing to even look at it if there’s a possibility that they won’t be able to buy it.
Mistake #7: Letting Buyers Know You Are Desperate
When it comes to home selling, this can be an incredibly emotional and drawn-out process.
While a good real estate agent will do their best to help you sell your home as quickly as possible, there are many factors that are out of their control.
Should your home sit on the market for longer than you expect, desperation may set in. But don’t ever let a buyer know that you are desperate to sell.
This can lead to being taken advantage of or not getting as much money from the sale as you had hoped.
Finding the Right Real Estate Agent
If you are hoping to sell your own home as fast as possible, then working with a real estate agent is in your best interest. They can guide you on how to get your home ready for buyers to look at, as well as let you know when to sell your home.
At Dean Miller Real Estate, we are doing everything that we can to guide buyers and sellers, and to connect people with the home of their dreams. Contact us today to get the assistance you need to buy or sell a home.