Selling a home is a process in which every detail matters. If you’re like many homeowners, you may only sell a property two or three times throughout your entire life. Since selling a home is often a new endeavor for homeowners, it’s easy to make an error throughout the process accidentally. Here are eight common mistakes you can easily avoid when listing your home for sale.
- Hiring the Wrong Real Estate Agent
This is the first — and one of the most significant — mistakes sellers make. A real estate agent can either be your best resource or put you at a considerable disadvantage in the selling process. You need a real estate agent who is more than simply qualified, knowledgeable, and experienced. Research their track record to see how successful their previous transactions have been and ask around town to get honest opinions of who the best agents are. - Setting Unreasonable Expectations
We all want to receive top dollar for our homes; however, it’s unwise to set astronomic expectations. You’ll need to humble your assumptions and realize the reality of the market, the condition of your home, and the limits of your prospective buyers. Keep your list price, conditions, and expectations reasonable so you will be prepared for low appraisals and higher than anticipated offers alike. - Not Upgrading/Enhancing the Home
Although you’re saying goodbye to your house, you need to make sure you send it off in style. Repairing, enhancing, and upgrading elements of your home can increase both its presentation and financial value. Spend the time and money to complete a few easy tasks inside and out so you can get top dollar for your home. - Only Focusing on the Highest Offers
The most substantial offers always stand out; however, they aren’t necessarily always the best offers. Be ready to consider amounts that are not the highest. They may be from buyers who have secured financing, have great credit histories, and are looking to make your part in this process as convenient as possible. - Forgetting About Costs/Concessions
Many sellers may initially forget that it takes money to make money, even when selling a home. Keep in mind that negotiations may result in you needing to pay closing costs or improve certain areas of the house to finalize the sale. To adequately prepare, make sure you have a little saved in the bank just in case. - Being Dishonest
One of the biggest mistakes you can make is to be dishonest during the process. You need to be upfront about everything, even aspects of your home that may be negative like water damage, extensive repairs, or existing problems. These will likely be uncovered during the inspection so it’s best to be honest with your real estate agent ahead of time so you two can plan accordingly. - Trying to Cut Costs
Hopefully, you’re selling a home that will more than recoup your investment. This is no time to cut costs, however. You need to invest in the right resources to make sure you get the best offer on your home. This includes paying for professional photography for your online listing and potentially hiring services like lawn care and in-home cleaning to ensure the property is responsibly maintained until the sale is finalized. - Not Having an Open Dialog With Your Agent
Your real estate agent’s job — and honestly, their sincere interest — is to help you successfully sell your home and receive the largest possible purchase price. Don’t be afraid to ask your agent questions, seek them out for advice or disagree with them if you have a differing opinion. You’re both on the same team. Collaboration and cooperation will only make you both more successful.
