Over three-quarters of Americans own homes with almost half of these having bought in the last ten years. However, if you no longer want to stay in your current home, you are not alone!
It is said that the average cost of newly listed homes has climbed up to 13.5%. If you are up for selling your home you will be in good company!
Read below for some common mistakes to avoid when selling your home.
1. Not Preparing Your Home for Sale
One of the most important things you can do when selling your home is to make sure it’s clean, clutter-free, and in good repair. This will make a good impression on potential buyers and make your home more appealing.
Here are reasons why you should take the time to prepare your home for sale
First Impressions Matter
If potential buyers pull up to your home and see a broken fence, peeling paint, or an unkempt yard, they’re going to assume that the inside of your home is just as neglected.
But if your home makes a great first impression, potential buyers will be more likely to give it a chance.
A Well-Prepared Home Will Sell Faster
If you want to sell your home quickly, you need to make it as attractive as possible to potential buyers. That means taking the time to make small repairs, touch up the paint, and declutter the space.
You’ll Get a Better Return on Investment
The money you spend on preparing your home for sale will pay off when you get a higher sales price. You may even make a higher profit if your home sells faster as a result of being well-prepared.
It’s Less Stressful
Selling your home can be a stressful experience, but preparing your home for sale doesn’t have to be. By taking the time to do things like decluttering and making repairs, you can reduce your stress and enjoy the process more.
If you’re ready to sell your home, don’t overlook the importance of preparing your home for sale.
Taking the time to do things like make repairs, not keeping clutter, and touch up the paint will pay off when you get a higher sales price and sell your home more quickly.
2. Pricing Too High
If you price your home too high, it will likely sit on the market for a longer time than if it were priced correctly.
This is because buyers are comparing your home to others on the market that are similar in size, location, and features, and if your home is priced significantly higher than the others, they’re likely to move on to something else.
It’s not impossible to sell a home that’s priced too high, but it is more difficult. Buyers are more likely to be interested in a home that’s priced 5-10% below market value than one that’s priced 10-15% above market value.
So, if you’re set on getting a certain price for your home, you may want to consider pricing it on the low end of your range to increase the chances of finding a buyer.
3. Not Marketing It Properly
You need to do more than just stick a “For Sale” sign in your yard. You should also list your home on major real estate websites, and promote it through social media and other channels.
The more people who see your home, the better chance you have of selling it.
4. Not Utilizing Technology
In today’s world, technology is key. You need to take advantage of it when selling your home. That means using online tools to market your home, and also utilizing things like 3D virtual tours.
5. Being Unreasonable with Buyers
You’re not going to get every last penny out of your home, so don’t be unreasonable with buyers. If they make a low-ball offer, counter back with a reasonable price.
Don’t try to hold out for an unreasonably high price – it’s just not going to happen. Being reasonable is important when you’re buying a home. The seller is likely to take advantage of you if they think you’re being unreasonable.
To avoid this, do your research, be reasonable with your offers, and be willing to negotiate.
6. Not Hiring a Real Estate Agent
There’s a reason why most people who sell their homes work with real estate agents – they know the business.
A good agent will help you price your home correctly, market it properly, and negotiate with buyers. It’s worth paying a commission to have an experienced professional on your side.
7. Not Following Through
Even after you’ve found a buyer and signed a contract, there’s still work to be done. You need to make sure you follow through on your end of the deal, and that includes things like repairing any agreed-upon repairs and ensuring a smooth closing process.
If you don’t follow through, you could end up costing yourself money in the long run. Be sure to check on linaandteam.com for help on selling your homes.
Additional Common Mistakes to Avoid When Selling Your Home
Aside from the seven common mistakes mentioned above, there are still some that we can take into consideration:
Not Disclosing Defects
If there are any defects with your home, you’ll need to disclose them to potential buyers. Not doing so could come back to bite you later on if the buyer discovers the issue and decides to sue.
Selling During Winter Months
Showing your home during the winter can be tricky for a number of reasons. For one, the weather can make it difficult for potential buyers to get to your home.
Snow and ice can make sidewalks and driveways hazardous, and no one wants to trudge through the cold to tour a home they may not even end up buying. Your home may not look its best.
In the summer, your lawn is green, your flowers are blooming, and the sun is shining. In the winter, everything is dead, dormant, and gloomy.
It can be hard to make your home look inviting when the outside is so uninviting.
Avoid These Common Mistakes Now
When selling your home, avoid common mistakes that can cost you time and money. For example, overpricing your home, not preparing your home for showings, and not working with a real estate agent.
By following these tips, you can increase your chances of selling your home quickly and for the best price.
Did you find this article about selling your home helpful? If so, take a look at some of our other blog posts for more valuable advice and content.