Half the success of selling a home is anticipating problems before they arise.
Selling a home is an important milestone in life. It can be challenging to consider all the steps:
- preparation and listing.
- making changes.
- finding sales support in the decision-making process, and
- going to your next place.
The consequences of a mistake can hurt your finances and, most importantly, your peace of mind.
Here are some common mistakes to avoid when selling your house:
#1. Getting Emotional
It’s easy to get emotional about selling your home, especially your first home.
You’ve spent much time and effort finding the right one, saving for a down payment and furniture, and creating many memories.
People often find it difficult to control their emotions when it comes time to say goodbye.
Think it’s difficult? No. When you decide to sell your home, start thinking of yourself as a business owner and seller, not just a homeowner.
Forget that you are the owner of the house. By viewing the deal from a financial perspective, you distance yourself from the emotional impact of selling real estate.
Also, try to remember how you felt when you bought this house. Most customers will also be emotional.
If you remember selling a piece of land, a painting, a logo mat, and a home, you’re more likely to put in the extra effort of planning and making small changes to get the highest dollar for your home.
These changes will not only help to increase the sales price but also help you create a sense of distance because your house will not be familiar.
#2. Selling It by Yourself
This is a big deal. Not going to a real estate agent and not going the For Sale by Owner (FSBO) route is a great way to buy a home.
Are you saving yourself from paying the 3% commission to the selling agent?
Certainly, but you are still on the hook because of the 3% agent commission. Also, selling a house alone is a huge pain, and you may miss out on making more money.
Most sellers already know that selling alone is a mistake. We know how difficult it can be to buy a home without an agent. If you want to sell your house at its full market value, professional knowledge will best help you with this.
#4. Setting an Unrealistic Asking Price
Most buyers want the highest price for their home, so it’s tempting to charge a high price right from the start.
However, using this strategy can lead to results that could be better.
Prices that are too high can scare away potential customers.
In addition, with low-interest rates, a more expensive house will remain on the market for a long time; you may spend more money or need a price reduction.
#5. Choosing the Wrong Estate Agent
There is nothing worse than being bound by a real estate agent when the relationship is falling apart or after the beginning of happiness; there has not yet been only one offer.
Choosing the right real estate agent can mean choosing the person who will give you the highest or lowest price.
Do your research and find out people in the area who are working in this field.
- How fast do they sell houses on their books?
- What is their track record of hitting the asking price?
- How many people in their office can talk with enthusiasm and knowledge about your property?
Before you make a choice, ensure you have all the facts, and if you get a comparison, ask the real estate agent to explain their opinion. And check when they go on vacation.
#6. Skipping Repairs
Not only does not updating your home before selling make it less attractive to buyers, but it can also result in additional costs associated with the customer’s visit.
If you notify them of any repairs that need to be made, the closing process may be completed, or the transaction may be disrupted.
Consider doing a preliminary inventory check to ensure everything is open before selling.
#7. Need to Prep and Stage.
Making your home look its best before listing it for sale is time and money well spent, especially considering buyers can make an offer based on what they see on screen.
Since most buyers search for homes online these days, and many of these homes have photos, you’re doing yourself a disservice if you don’t have high-quality photos of your home.
At the same time, there are a lot of bad photos of houses for sale, but if you do a good job, your listing will stand out and help generate interest.
Good photos should be crisp and clear and taken with plenty of natural light during the day. They should show the best features of your home.
Consider using a wide mirror, if possible, to give potential buyers a better idea of what the entire room looks like.
Best of all, hire a professional real estate photographer to get the best results, rather than just letting your agent take pictures with you.
Consider adding a video game or 360-degree view to expand your list further. This can be easily done on any phone.
You can attract more customers to your shows. You can also get more offers if you give them an introductory tour of your property.
Many people said that they would propose a house after they made the 3D virtual game.
After all, you want the home-buying process to be as smooth and effortless as possible.
Thinking about everything that could go wrong can be overwhelming, but understanding is power.
Now that you know some common mistakes to avoid when selling a home, you can be more confident when things don’t go as planned.