Now that we are in a seller’s market in most of the country, home inventory is low and properties are in high demand. As the seller, you typically have the upper hand. However, just as with anything, it’s common to make mistakes in an area outside of your comfort zone. Unless you are a real estate professional and your expertise lies in buying and selling homes, you’ll want to make sure you don’t fall into the trap of making these five home-selling mistakes homeowners make.
- Not Hiring a Professional Realtor: With the market as hot as it is right now, many homeowners mistakenly think they can simply stick a FSBO (for sale by owner) sale in the yard and the house will literally sell itself. Well, demand is high, but not so much for buyers without trusted and experienced agents on both ends of the transaction. Professionalism is not only appealing to potential buyers, but the elimination of madness and chaos that comes from trying to market your own home and managing the paperwork of selling is definitely with the money you’ll pay an agent. DEFINTELY. Selling a house is not an easy task, that’s why there are professionals who you employ to help you.
- Mis-Pricing Your Home: We are all familiar with the detriment of overpricing a home, letting it sit on the market too long, and then possibly accruing a stigma for not selling lighting fast. This wastes time and money. But, underselling your home is also a problem. Even though you want it to sell quickly, make sure you’re asking all that it’s worth and all that you can get. This is good for your pocketbook, and that of your neighbors’ too! Hire a real estate professional to complete a full market analysis so that you really can get the best sale price possible.
- Neglecting Repairs: Before you even list your home, it should be in tip-top shape inside and out. Chipped paint, cracked walls, dented doors, snags in window screens, and leaky faucets are all somewhat easy fixes and will turn a buyer away in a heartbeat if left neglected. That said, once you are under contract and a home inspection comes around, be willing to work with your buyers for the repairs. It’s true that often times the repair list will be exhaustive, but your unwillingness to work through any of the items with your buyer may just lose you the sale. That’s not a mistake you want to make.
- Showing Your Home with Pets and Clutter: You love your pet. Of course you do. You also love your things. They are yours and this is your home…but while it’s on the market in full view for all potential buyers, put it all away. Pets need to be taken off the premises during showings, to avoid stigmatized allergies and for potential safety issues with buyers, and clutter just needs to go. Things need to be neat, clean, practical and streamlined. Buyers need to be able to visualize living in the space as they would love it, without their minds being clouded by all the clutter you’ve shoved into the corner. Hire a dog sitter and rent a short-term storage unit.
- Not Staging Your Home: That said, while you certainly don’t want clutter and knick-knacks laying around the house for your buyers, you also don’t want to show an empty home. Statistics show that homes staged nicely with furniture, so that buyers can imagine real life, themselves living in the home, are far more likely to sell than those that are shown empty and vacant. It doesn’t take a lot – your real estate agent can even help you find used furniture stores around town to stage the home in a welcoming way.
Don’t miss out on the amazing opportunity to sell your home in a hot market right now by falling into the trap of these five common seller mistakes.