What are the Most Common Mistakes that Home Sellers Make?
Selling your home can be a complicated process, and many sellers make the same mistakes. From pricing your home incorrectly to eschewing the staging process, mistakes can cost you time and money, two valuable assets during a home sale. Using an agent can help you avoid some of these mistakes and get through the process quickly.
Pricing Your Home Too High
This is one of the biggest mistakes sellers make when they are selling a house. On the surface, the reasoning makes sense. Price the home high so you have room to negotiate and still come out on top. But this isn’t always how it works. Buyers working with an agent will know if your home is overpriced and will be less likely to put in an offer. Overpriced homes will often sit on the market – even in a seller’s market – and the longer your house sits without an offer, the more buyers will be wary that there is something wrong. An agent can help you find the right price for your home.
Thinking of it as “Your Home”
It’s hard to detach from your home, but when you are selling, even if you are still living in the house, you are now living in the product you are working to move from. You may think that personality will draw more interested buyers, but home buyers need to see the home as a blank slate so they can imagine themselves adding their own personality to a blank space. Depersonalize the house as much as possible during the selling process and try to detach yourself emotionally from the process. This is where an agent can be especially valuable.
You want to sell your home fast, but that doesn’t mean you should be impatient with the process. Real estate is a process that you want to make sure is done right, not just quickly. You don’t need to jump on the first offer, you shouldn’t automatically discount negotiations, and delays during the process are possible. Some sellers want to jump on an offer that looks like it will be a quick transaction, but that may not be the best offer. Allow your realtor to help you through the process. Often, you will sell your home fast when you don’t allow yourself to stress about the speed.
Underestimating the Cost of a Selling a House
As the seller, you may think that you don’t need to bring any money to the table during the process. However, there are costs to selling a house. Your proceeds from the sale of your home will cover the agent’s commission and the closing costs you are responsible for, but there are expenses you need to anticipate prior to the sale. Your agent may recommend a home inspection prior to listing your home so you have a sense of what may come up later and give you the opportunity to either fix the issues or price the house accordingly. You may want to pay a professional to help “stage” your home for a quick sale. You may want to invest in the curb appeal of your home. Your agent can help you determine the cost of selling a house and which projects will make a difference once finished.
The worst mistake you can make during a home sale is turning confidence into arrogance and failing to trust your agent. Your agent has been through the process and knows the nuances of selling a home and how to sell a home fast. Trusting your agent is one of the smartest moves you can make. If you’re ready to sell you home but not sure where to start, call us first. We’re Amberwood Mortgage and we’d love to help you find your dream home. Contact us today!