I get it, we all think our home is awesome, which it is, and we should get top dollars for it. I love that kind of thinking, and no one should settle for less. I also believe sellers bring a dose of reality when getting ready to sell their home and do their due diligence to get those top dollars. This post may comes across as a bit stern, but this is a message better delivered direct than sugar-coated. Here are the top 5 mistakes sellers make when listing their home:
Overpricing
When it comes to home selling, there are certain mistakes that you simply can’t afford to make. Overpricing is one such mistake that can cost you dearly in terms of time and money. Firstly, overpricing your property will automatically put off potential buyers who may not even bother to visit your home. Secondly, if you do manage to attract some interested parties, they will quickly realize that the asking price is too high and move on to other options. This means that your home could end up sitting on the market for months or even years without any serious offers coming through. Thirdly, overpricing can also give buyers the impression that you’re not serious about selling or that there’s something wrong with the property itself.
Poor Condition
The other big mistake is presenting your home in poor condition. First and foremost, if your property is not in good condition, it’s going to be much harder to sell. Potential buyers will be put off by dirty or cluttered spaces or rooms that need significant repairs. You may think that you’ll save money by not making repairs or improvements before listing your property but this strategy can actually backfire and lead to lower offers. In addition to reducing the value of your property, neglecting its maintenance could also increase the time it spends on the market.
Not Hiring a Professional
We’ve all wondered, what do Realtors do other than drive around in their fancy cars, right! I thought the same before becoming a Realtor myself. The ‘mile in their shoe’ saying comes to mind. I guess that’s true for many other things in life, but I digress. The other big mistakes home sellers make is not hiring a professional real estate agent. Some may think they can handle the task on their own, but this can lead to costly mistakes and missed opportunities. Without the knowledge and experience of a professional real estate agent, sellers may underprice or overprice their home, resulting in lost profits or difficulty selling. Additionally, agents have access to resources such as marketing tools and networks that can greatly increase exposure for the property. Trying to sell a home without these resources is like trying to navigate through uncharted waters without a compass – it’s risky and could end up costing you dearly.
Ignoring Curb Appeal
Here is one of the few times you should judge a book by its cover. The next big mistakes home sellers make is failing to invest time and money into improving their property’s exterior appearance. Curb appeal is what attracts potential buyers to your home in the first place, and it sets the tone for their entire experience during a showing or open house. If your property looks unkempt or uninviting from the outside, it’s unlikely that buyers will want to see more. Another common mistake among home sellers is underestimating just how much curb appeal matters in today’s market.
Neglecting Repairs
And the final big mistake, neglecting repairs. It’s easy to assume that small repairs won’t matter, but they can end up costing you big time in the long run. Firstly, ignoring necessary repairs can lead to a decrease in your home’s value. Potential buyers will be less likely to pay top dollar for a house with broken windows or leaky faucets. Additionally, neglecting repairs can put off potential buyers before they even step inside your property. This means that all the effort and money spent on staging and marketing will go down the drain if necessary repairs aren’t taken care of beforehand. Yes, the real estate market remains hot and homes are still selling relatively quickly. However, many homes still languish on the market because of mistakes like the ones I mentioned above. It’s not difficult to avoid these mistakes. It all starts by finding a good Realtor that you trust. Then heed their advice.
AM 