Selling your home is, in a nutshell, a complicated process. There are a million factors to consider: when to sell, how to sell, and how much to sell for, to start. In order to successfully sell your home, it’s important to avoid the many potential pitfalls along the way that can threaten to bring the selling process crashing down and cost you immeasurable time, money, and hassle.
Here are 4 mistakes you’ll definitely want to avoid when selling your home:
Over or Underpricing
When selling your home, it’s imperative you price it in a way that’s in line with your current market. If you mis-price your home, no matter what way you look at it, you’re leaving money on the table: if you underprice, you’ll sell your home for less than it’s worth. If you overprice, you won’t be able to compete with other homes and your house will sit on the market, costing you time and money. Before you list your home, do your research to understand what’s going on in your local market. Get to know the average listing price of comparable homes in your neighborhood and look at the price where most homes seem to be closing. You’ll want to price your home in the same range to both stay competitive and ensure that you’re getting the best price for your home.
Not investing in repairs
Many homeowners neglect to invest in minor repairs on their home, presumably since they’re selling the house and figure the new homeowners can take care of it. But listing your home as a “fixer upper” and not investing in the necessary repairs can drive down the value of your home and end up costing you a significantly higher amount of money than just handling the repairs yourself. Prior to listing your home, evaluate any areas that might need repair. Does the exterior need a fresh coat of paint? Does your plumbing need to be replaced? Is there landscaping work that needs to be done? Getting these repairs out of the way before you start showing your property will end up getting you higher offers and will save you money in the long run.
Not staging your home
Staging is an essential part of the selling process. By staging your home properly, you’re showcasing your property in the best light and maximizing its appeal to potential buyers. But many sellers (particularly first time sellers) decide to skip the staging process. They either show their home as is or, if they’ve already purchased another property, move all of their things out and show the home empty. Both of these scenarios can have a negative effect on potential buyers. If you show your house as is, with all of your furniture, decor, and personal belongings, your house will look lived in – by you. It’s going to be hard for potential buyers to picture themselves in your home when pictures of your family are staring back at them from every wall surface. On the other hand, if you showcase your home empty, it can be challenging for potential buyers to picture the home as a liveable space. It will seem cold and impersonal, which can hurt your chance at selling. If you want to sell your home, invest in proper staging that highlights the best parts of your property and makes your home feel attractive and appealing to potential buyers.
trying to sell on your own
With so many potential mistakes that could prevent you from selling your home at the highest possible price, the biggest mistake you could make is trying to navigate the process on your own. Working with an experienced real estate agent who understands your market and the selling process is invaluable. Agents handle the entire process from beginning to end and can help you avoid major mistakes on the way. They know how to price your house to sell and how to get your home from listed to sold in as little time as possible. Do yourself a favor – if you’re considering selling your home, don’t try to do it on your own. Get the right support by partnering with a qualified real estate agent. There are a lot of mistakes that can be made on the road to selling your home. But if you know what to look out for, you can avoid those mistakes and get your home sold quickly, easily, and profitably.