Selling a home is incredibly exciting, but can also be very emotional. By avoiding common selling mistakes, you can increase your chances that your home selling experience is relatively stress-free, and most importantly, successful.
Here are 5 common mistakes sellers make, and how to avoid them:
1. Pricing too high.
The key to getting the best price and terms for your property is to price accurately. With all of the home valuation tools available these days, buyers are savvy and know when a home is overpriced. When looking at the recent comparable homes that have sold, make sure you evaluate the list price versus the sold price. Chances are they were priced lower, and bid up. You wont get that scenario if you start too high. Overpricing your house in the belief that you can reduce the price back later is a strategy that can backfire badly. For instance, if prices are lowered, buyers may wonder if theres something wrong with the property that kept other buyers away.
2. not preparing your home to sell
just because it may be easier to sell your home today than it was two years ago, does not mean that you should just put it on the market in any condition. You will net the most money by preparing and staging your home to showcase it in the best possible light.
3. hiring the wrong agent
navigating the terms and conditions of multiple contracts is a skill that not all agents possess. Who you work with matters! Hiring an agent based solely on the list price they recommend or the commission they charge are two of the biggest mistakes a seller can make when hiring an agent.
4. selling for sale by owner
study after study shows that sellers who use a real estate agent net more than selling by owner. By exposing the property to the most buyers, networking with other agents, and having the intricate knowledge of how to navigate the best terms, agents consistently provide the best results.
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