Selling your home is an intense experience. It gets emotional because so many memories are wrapped up in your house. Plus, every home sale comes with a seemingly endless to-do list.
You want to get every penny possible for your home when it comes down to it. All of the tips and information out there can feel overwhelming. However, if you take a breath, slow down, and make sure you don’t make home selling mistakes that can cost you, you can maximize your profits.
1. Selling Without A Real Estate Agent
It may seem like a good idea to save money on real estate agent commissions by selling on your own. However, listing as for sale by owner can actually cause you to lose money. Realtors have the expertise and networks available to get you more money for your home.
Real estate agents can help in many ways, including:
- Completing a comparative market analysis (CMA) to correctly price your home
- Offering advice for the repairs and upgrades that will give the highest return on investment
- Recommending professional stagers or providing advice for staging
- Marketing your home
- Scheduling showings and open houses
- Negotiating and closing the sale
2. Pricing Too High
Settling at the right price can be tricky. You don’t want to price too high and scare people away, and you also don’t want to leave money on the table by pricing too low. To price your home correctly, compare it to similar homes in your neighborhood that have recently sold, or are currently up for sale. A real estate agent can help you with this process and get a better idea of listing prices.
3. Selling In The Wrong Season
There are times during the year when demand is higher. For instance, spring and summer are busy times for the real estate industry. School schedules make this a desirable time to buy and move. Moreover, nicer weather and more daylight make it easier to see homes and move.
4. No Repairs
Potential buyers will turn and walk out if they see leaking pipes, holes in the drywall, or damaged carpeting. Seeing problems like this suggests neglect in upkeep and that there could be more problems lurking in the home. Make any needed repairs before your home hits the market, and get a great return on your investment.
5. No Upgrades
Updated kitchens and bathrooms really speak to potential buyers. If these rooms are old and outdated, this could hurt your bottom line when selling your home. If you are on a tight budget, you can make simple upgrades, such as painting cabinets or replacing hardware.
6. Fail To Declutter And Clean
Cleaning and decluttering are essential when selling a home. You want to remove any personal items from your home, such as family photos or political memorabilia. The home must remain as neutral as possible. This allows potential buyers to imagine themselves living in the house.
7. Dim Lighting Or Not Enough Natural Light
Natural light makes a home feel bright and inviting. It also causes spaces to feel larger. You need to highlight the natural light that your home receives. In addition, you simply want to make your home feel as bright as possible. If there are any dark corners, add a lamp to brighten the space.
8. Staging Without a Professional
Professional stagers have the knowledge tools, furniture, and accessories to help your home stand out. You are putting yourself at a disadvantage if you try to stage yourself. If you have no other option, remove as much as you can from your home. Leave only furniture and accessories that bring out the best in every room.
9. Bold Paint Colors
Bright or bold paint colors can turn off potential buyers. If someone doesn’t like the wall color, it can be challenging to get past that issue. The best strategy is to paint the interior of your home using neutral colors. These colors will allow for a blank palette for the buyers. A fresh coat of paint also helps the house look clean and crisp.
10. Not Hiring A Photographer
With most people beginning their home search online, crisp, clear photos are necessary. Real estate photographers know how to make rooms look bright and large. In addition, they know how to bring attention to your home’s best features.
11. Not Providing A Video Tour
When searching for a professional photographer, ask if they shoot videos. If not, find someone who does. A video tour will put your home above the competition. It allows buyers who are searching from out of state the chance to see your home. A video also allows potential buyers to see the entire house before visiting or look back on it after visiting.
12. Neglecting Curb Appeal
First impressions are crucial. The property needs to look great as potential buyers pull up. Trim bushes and trees, mow the grass, and plant colorful flowers if it’s the right season. Also, install a new front door or paint it, and make sure all siding and gutters are in great shape.
13. Not Flexible With Showings
Showings can be stressful, especially if you’re still living in the home. However, you’ve got to be ready to leave at any moment for a showing. If you aren’t accommodating for showings, you will miss out on buyers. The more buyers who come through your home, the better.
14. Getting Emotional During Negotiations
Selling a home is an emotional experience. It’s hard to let go of the memories and pride you feel in your home. However, you have to keep those emotions out of the equation for negotiations. This is another instance when the help of an experienced real estate agent comes in handy.
15. Not Taking Closing Costs Into Account
Unfortunately, you won’t simply net the offer price when selling your home. You will need to pay the remaining balance on your mortgage, real estate commissions, and closing costs. Sometimes, these costs are negotiated and split between the buyer and the seller. However, generally, the seller is the one that pays.
Avoid These Home Selling Mistakes
Selling a home is emotional and stressful, but it can also be gratifying. When you avoid these home selling mistakes, you will make more money when selling your home.
When you are ready to sell, find an experienced real estate agent. They will guide you through the home selling process, and you won’t have to worry as much about making mistakes. There is so much conflicting information out there. Reduce the noise and listen to someone you trust.
When you work with an exceptional real estate agent and avoid these mistakes, you will make more money on your home sale. Imagine being able to put more money down on your next home, go on vacation, or pay down debt. Take the time to properly prepare and make more money a reality for your home sale.
Are you looking for a team to help sell your home? We can help! Contact us today and let’s get started!