The home selling process can be complex, and it’s very possible that you’ll make mistakes along the way. While some are unavoidable, there are others for which you can be on the lookout. The mistakes sellers make when selling a home are those that can not only hurt their ability to command a good price, but those that can stop them from making a sale in the first place.
Mistakes sellers make when selling a home
There are quite a few mistakes to avoid when selling your own home and they’re more common than you might imagine. These mistakes come from a number of different motivations, but they all boil down to not really understanding what goes into making sure a house sells. If you’re planning on selling, you will want to look at these mistakes sellers make when selling a home.
Setting an unrealistic price
One of the most common mistakes sellers make when selling a home is setting an unrealistic price. This is, however, also one of the most understandable mistakes. After all, every seller wants the most for his or her home and some might be under intense pressure to bring in a specific amount of money. Unfortunately, it’s not the seller’s needs that take precedence here, but rather what the market can bear. If you charge too much for your home, you can expect to see it sitting on the market for quite some time.
Smart sellers do their research and figure out what other comparable homes are bringing in. Some will use this data to set a realistic price, while others will realize that they may not be able to sell quite yet. In either case, they’ll avoid the problems that come from setting a price higher than the market will allow.
Selling at the wrong time of year
There is a wrong and right time to sell a house, as many who attempt to sell their homes will find out. One of the common mistakes sellers make when selling a home is trying to sell a home at the wrong time of year, something that happens more often out of necessity than out of a misguided desire. After all, sellers often sell simply because they need to move or because it’s time to make a change, and doing so often means putting the house on the market during an inopportune time.
The truth, though, is that you can often wait a few weeks to avoid the worst parts of the selling season. Waiting for holidays to go past or the winter to blow over is often a good way to avoid a down market. There’s never a guarantee that a house will sell at a specific time, but the odds are better when the weather is nicer and holiday bills aren’t around.
Not taking care of necessary repairs
You only get one chance to make a first impression, something that many home sellers with homes in bad condition have found out. If you’re not willing to make the necessary repairs to your home, you absolutely are not ready to sell a house. After all, there’s not a buyer out there who wants a home with obvious problems – and very few lenders who are willing to underwrite a loan for a house in poor condition.
Taking care of the obvious problems make a house look more attractive. It also helps buyers to feel safe with their purchase. If you want to attract buyers, you’ll need to fix the issues that scare them away.
Not being honest with potential buyers
Buyers put a great deal of faith in sellers. If a seller chooses to lie to a buyer, word will get around very quickly. Not only will you risk losing a sale because you’re not honest, but you’ll risk having agents avoid your home because of your reputation. Simply put, sellers need to be honest about the problems with their homes if they ever want to make a sale.
If you’re straightforward about issues, you stand a chance of finding a buyer who is willing to work with you. If you are not honest, though, you’ll lose out on many opportunities. Being honest might cause you to lose money, but it won’t do as much damage as lying.
Not having enough photos in the listing
An increasing number of buyers want to see homes online before they’ll ever schedule a viewing. If you don’t put enough pictures of your house online, you won’t be able to entice buyers who need a little extra information. This might not seem like a big deal, but you never know exactly who is willing to pay your asking price. Your goal should be to get as many people as possible in your house, so you should always do what you can to make your home seem more attractive.
Not hiring an agent
The biggest mistake a seller can make is trying to do it all alone. Selling a home takes special skills, something only an agent has. Not only can an agent help you figure out how to put your home up at the right time and for the right price, but an agent can help to tap into a network of buyers to see your home. Failure to work with an agent is the type of failure that will not only ensure that you lose money, but that will make selling your home a much tougher process.
While there are many mistakes you can make when selling your home, the worst is the failure to find a great agent. If you’re really interested in selling your home, make sure to work with CENTURY21 Northwest. Not only will you get access to a great agent, but you’ll also get the information you need to make sure your home sale is a success. When you’re ready to put your home on the market, make sure to check out the Home Affordability Calculator to get an idea of what your home is really worth.