You might not be aware of this, but selling your house is not going to be easy. In fact, it is very likely to end up being incredibly time-consuming, costly, and stressful. After all, there aren’t many billboards next to the roads that state “We want to buy your house in California!” or “We will pay any price you want for your home”.
Fortunately, selling your property can become a bit easier if you educate yourself on the topic. If you want to do just that, then you should definitely keep reading! In this article, you will learn everything you need to know about the mistakes you should avoid when selling your house. They include but are not limited to getting emotional, hiding major problems, selling during winter months, setting an incredibly unrealistic price, and not accommodating your buyers. Let’s get started.
Getting Too Emotional
As a person who is selling their home, try to keep your emotions out of the process. While it is understandable to get attached to the place where you have lived for a long time, you should not let that get in the way of making a rational decision. Remember that selling your house is a business transaction, and business transactions are all about cold hard facts and figures.
Ignoring Home Repairs
Before putting your house on the market, it is crucial that you make some home repairs. At a bare minimum, you might want to replace the front door and windows, paint the interior, and do some landscaping. If you aren’t sure whether garage doors in your home work perfectly fine, you might be interested in a garage door tune up to avoid any problems with potential buyers.
More than anything else, you need to make sure that your house looks lovely! It is also a good idea to clean up the clutter and get rid of any personal stuff, as it will only take up space and not benefit you in any way.
Contacting an Agent Right Away
Many people believe that they should contact real estate agents as soon as they decide to put their house up for sale. However, this is not always necessary.
In fact, many agents will tell you that it is often better to begin marketing your house yourself through online advertisement websites, social media, and word-of-mouth. The reason why this can be beneficial is due to the fact that an agent may sell your home for less in order to get the commission.
Hiding Major Problems from Buyers
It is a good idea to be upfront with potential buyers about any defects or problems that your house may have. After all, everyone can be furious when they realize they bought a home that has a significant flaw.
For instance, if one of the rooms has mold or smells funny, it would be better to inform your potential buyers about it. This way, they can take it into account when making an offer. If you do not tell them, they might try to negotiate, only to walk away when they find out about the issue. As a result, you will only waste your time and harm your reputation as a seller.
Forgetting About Home Staging
Home staging is an excellent way for sellers to get more money for their homes. Studies have shown that staged homes sell faster and for more money than those that are not staged.
In order to successfully stage your house, you are going to need to accessorize the interior and get rid of most of the clutter. You might also want to consider changing the color schemes throughout each room. Doing these simple things can significantly impact your chances of getting a good deal when you present your home to potential buyers later on.
Selling During Winter Months
There is no doubt that some people will buy a house at any time of year. Nevertheless, there are certain times of the year when buyers are less likely to buy. For instance, few people go house hunting during the winter months. Therefore, if you want to increase the odds of selling your house quickly and for the best possible price, it would be wise to avoid selling from December through March.
Setting an Unrealistic List Price
If you want to sell your house quickly and for top dollar, you need to set a reasonable list price. Many people believe that setting an incredibly high list price will result in a quick sale. It may be true in some cases. However, there is also a risk involved with this type of strategy.
For starters, you might set your list price too high and end up losing a ton of money on buyers who are unable to afford such a property. Another possibility is that a lower price might invite one of your potential buyers to pay more than your asking price to secure a deal. As a result, you may end up taking what the property is actually worth without scaring away customers.
Failing to Accommodate Buyers’ Needs
To sell your house as fast as possible, you should think about accommodating your buyers’ needs. For example, if they need flexibility in terms of closing day or moving day, it would be wise for you to accommodate them, as if you fail to do it, they might even walk away from a deal. The same logic applies if they want certain upgrades or appliances replaced prior to buying your home or if they have pets or children with special needs.
Selling for Less
Many homeowners decide to sell their homes for less than they are actually worth. While some people do this by lowering their list price, others set unrealistic expectations regarding the final sale price. The truth is that you will end up losing money if you are going to follow in their footsteps.
Do not succumb to the time pressure. Instead, try to sell your property at a reasonable price. One method you can try is doing some research on comparable properties so that you can get a clear idea of what your property is worth.
The Bottom Line
There is no denying that selling your house is going to be a stressful experience. However, if you want to make it easier on yourself, try to avoid the mistakes listed above. If you do so, then it is very likely that you will sell your home faster than you expect!
Remember to do all the necessary repairs and try your hand at promoting your property and home staging. By doing these things, you will boost your chances of finding interested buyers and increasing your home’s value at the same time. Additionally, you might want to be straightforward about the major issues with your home and avoid getting too emotional. This way, you will look more professional as a seller and gain a good reputation among home buyers.