Selling your home can be a stressful and overwhelming process, especially if it's your first time. Unfortunately, many sellers make common mistakes that can jeopardize their chances of a successful sale.
Here are some of the most common mistakes to avoid when selling your home:
Getting emotional
Selling your home can be an emotional process, especially if you have lived there for a long time and have many memories. However, you should try to detach yourself from the emotional aspects and think of yourself as a businessperson and a salesperson. You should also remember that buyers will also be emotional and will look for a home that suits their lifestyle and preferences. Therefore, you should make your home look appealing and neutral to attract more buyers.
Not hiring a real estate agent
Although hiring a real estate agent will cost you a commission, usually 5% to 6% of the sale price, it can be worth it in the long run. A good agent will help you price your home correctly, market it effectively, negotiate with buyers, handle the paperwork, and avoid legal issues. Trying to sell your home on your own can be risky, time-consuming, and stressful.
Setting an unrealistic price
One of the most common mistakes is pricing your home too high or too low. If you price your home too high, you may scare away potential buyers or make your home sit on the market for too long. If you price your home too low, you may sell it quickly but leave money on the table. You should do your research and compare similar homes in your area to determine the fair market value of your home. If you have an agent then you should also listen to your agent’s advice and be flexible with your expectations.
Not preparing your home for sale
Another common mistake is not making your home look its best before listing it. You should declutter, clean, repair, paint, and stage your home to make it more attractive and inviting. You should also take professional photos and write a compelling description of your home to showcase its features and benefits. A well-prepared home will stand out from the competition and attract more buyers.
Underestimating the costs of selling
Selling a home is not only about getting the best price, but also about paying for various expenses along the way. Some of the costs of selling include agent commissions, closing costs, repairs, staging, moving, taxes, and fees. You should budget for these costs and factor them into your net proceeds. You should also be prepared for any unexpected costs that may arise during the process.
Keep it Foxy,
"Mr Foxy"
Damon H
Sales Manager & Founder