Many home sellers sabotage their own success without even knowing it. Here are seven ways this commonly happens.
When selling your home, it’s important to avoid a few specific pitfalls. Today, we’ll go over seven of the most common (but critical) seller mistakes:
1. Overpricing the home. Overpricing your listing by even just 5% or 10% could cause it to sit on the market for 60, 90, or even 120 days before it attracts a buyer—if it manages to do so at all. On top of that, the home will almost always sell for far below its fair market value, rather than the overly high price the seller had hoped for.
2. Not preparing your home before listing it. Cleaning, decluttering, and depersonalizing the home are essential, so failing to follow these steps will make it difficult to sell.
3. Limiting the number of showings. Opening your home up for showings is stressful, but necessary. You should never turn buyers down when they ask to visit your home. The more showing inquiries you decline, the longer you’ll have to put up with the hassle of being on the market. You must be flexible with your schedule if you want your home sale to be smooth, successful, and as stress-free as possible.
4. Underestimating the cost of selling a home. Along with the cost of upgrading the home and making necessary repairs, sellers should also make room in their budget for expenses like the agents’ commission fee, title fees, property taxes, and more.
5. Being close-minded when reviewing offers. You may not be thrilled about the idea of paying a buyer’s closing cost, for example, but if the offer is otherwise solid, your focus should be on the bottom line. If the positives of an offer outweigh the negatives, don’t brush it off without some serious consideration.
6. Being ignorant of the sales process. No one expects you to be a real estate expert, but you should do basic research into how your home sale will play out. One way to do this is by simply talking to your agent about what steps to expect. Being able to approach your transaction from a more informed perspective will always benefit your bottom line.
7. Choosing the wrong Realtor. The agent you select to represent you during your home sale will have a massive influence on your success. Therefore, it’s imperative that you choose someone who is knowledgeable, experienced, and has all the necessary resources to make your real estate experience a positive one. It’s always smart to interview two or three different agents before making your final selection. We at the Dauby Team would be honored to be among your choices and to have the chance to explain what we can do to help you meet (and exceed) your real estate goals.
If you have any other questions or would like more information, feel free to give us a call or send us an email. We look forward to hearing from you soon.