So, you have decided to sell your home? In my over 15 years as a Realtor, I have seen many mistakes people can make when selling their home. Here’s a list of the top 5 mistakes home sellers make, and how to avoid making them.
1. Pricing your home incorrectly. If you overprice your home, you could end up making less money on the transaction in the long run. Why? Well, your home will may sit on the market for months and accumulate “days on market”. Buyers will assume you are getting desperate to sell and will put in an offer that is lower than market value. Also, you run the risk of having to eventually drop your sales price, in order to attract a buyer. Be sure you price your home based on a fair market value to ensure you sell your home quickly and for the most profit.
2. Not hiring a Realtor. Honestly, you will probably only sell a few homes in your life. You are not an expert in the process. Also, by not hiring a Realtor to help you are taking on a daunting amount of work that includes, pricing the home, staging, professional marketing, negotiating a contract, inspections, title work, etc. Also, based on Inman News, in 2015, “For Sale by Owners” made 16% less than homes listed with Realtors. In comparison to the average commission to a Realtor, you are not saving any money!
3. Using amateur photos for advertising. With over 90% of home buyers searching for homes on the Internet, professional photos are a MUST. They entice the buyers to view your home in person. If the photos are dark, unfocused or do not show enough of the home you will lose many prospective buyers. Photos of your home make the first impression on potential buyers, so you want to ensure they are perfect and professional.
4. Having a dirty home. Buyers judge your home based on location, amenities, upgrades and cleanliness. If your home is dirty, buyers will assume you do not maintain your home and will be concerned that you have hidden defects. Be sure your home is clean, smells good and is inviting. These special touches will give the buyers the peace of mind that you have maintained what is most likely your largest asset.
5. Taking offers personally. It is tempting to take it personally when a buyer offers you a low price on your home. Keep in mind that the buyer likes your home enough to make and offer and, just like you, is trying to get the best deal. Always attempt to negotiate with any buyer, the buyer is most likely ready to offer more, but wants to see if you are willing to sell your house for less.
Okay, so I’ve shared the top 5 mistakes home sellers make and I’m confident that you won’t make them when selling your home, but there are other missteps that can befall you in the process. If you need help selling your home, please reach out to me and we can discuss it further.