Selling a home can be a complex process! There are many steps in preparing your home, marketing your home, and negotiating with buyers. Many sellers are unprepared for all of the work that goes into preparing to sell their home and the complexities of the transaction. Sellers can make mistakes that cost them time and money. Here are some of the most common home seller mistakes to avoid.
- Overpricing the Home – Setting the price too high can scare away potential buyers and lead to a longer time on the market. A home that is overpriced usually ends up with at least one price reduction and can sell for under market value.
- Ignoring Curb Appeal – First impressions matter! A poorly maintained exterior can turn off buyers before they even step inside. Overgrown landscaping, faded paint, and trash/junk lying around is a big turnoff for buyers.
- Not Staging the Home – Cluttered, outdated, or overly personalized decor can make it harder for buyers to envision themselves living in the space. Too much “stuff” makes rooms feel small and crowded. Buyers have a hard time seeing past clutter.
- Neglecting Repairs – Small issues like leaky faucets, chipped paint, or broken fixtures can make buyers question how well the home has been maintained. Every little neglected repair adds up in their minds and they think the seller has not taken care of the home.
- Failing to Disclose Issues – Hiding major problems can lead to legal trouble down the road. Be honest about the condition of your home. You will have to fill in a lengthy and detailed property disclosure to sell your home. It is required by law to disclose any known issues with the property.
- Being Unavailable for Showings – Limited availability for showings can turn away potential buyers who are on tight schedules. Most buyers are scheduling showings around work, kids, etc., and need a wide array of available times. Limiting showing times could reduce the amount of buyers who tour your home.
- Using Low-Quality Listing Photos – Poor lighting, bad angles, or blurry images can make your home look unappealing online, where most buyers start their search. A home with poor-quality photos will not attract buyers to schedule showings. A buyer’s interest starts when they see the photos of your home.
- Skipping a Deep Clean – A dirty home, pet odors, or strong scents can be a major turnoff for buyers. Filthy bathrooms, caked on dust, and stained and smelly carpets make a negative impression. Your home should sparkle and smell neutral! If you don’t have time for a deep clean, hire a professional.
- Not Marketing the Home Properly – Relying only on a listing without social media and digital marketing can limit your reach. Most buyers are looking online for a home. More potential buyers can be reached through online exposure through digital ads and social media exposure.
- Getting Too Emotionally Attached – Selling a home is a business transaction, and emotional ties can make negotiations more difficult. Buyers view your home as a product to be bought. Understand this and don’t get offended because they don’t have the same sentimental feelings you do.
- Choosing the Wrong Agent (or Going FSBO Without Experience) – A skilled real estate agent can price, market, and negotiate effectively. Selling on your own without knowledge of the process can be overwhelming and costly mistakes can be made. An experienced listing agent can make the transaction smooth and profitable.
- Not Preparing for Inspections and Appraisals – If your home doesn’t pass inspections or appraises for less than the selling price, the deal could fall through or you could be out more money. Understand what these contingencies mean for you as the seller before accepting an offer.
- Accepting the Highest Offer Without Considering Conditions – Some offers may come with contingencies that could delay or cancel the sale. Evaluate all terms before accepting with your experienced realtor. Just because an offer price is higher, that doesn’t mean it is the best offer.
- Waiting for the “Perfect” Buyer – Holding out for an unrealistic offer or having unrealistic expectations can cause your home to sit on the market too long. Understand the positives and negatives of your home and be realistic about a fair price and terms.
- Failing to Plan for the Next Move – Selling without having a plan for your next home can lead to stress and rushed decisions. You don’t want to buy a replacement home you don’t really want because you were in a hurry. Discuss options with your realtor, including creative financing that lets you buy before you sell.
Selling a home is a complex endeavor, but you can plan and prepare ahead for a good experience. Being knowledgeable and realistic, plus working with an experienced listing agent, will set you on the right path. You can avoid these common home seller mistakes to ensure a smoother and more profitable home sale!
By Launch Kits