7 Costly Selling Mistakes to Avoid
Buying a new home can be an exciting process, but first you have to sell your current home. Here are seven selling mistakes you can avoid to expedite the process, adapted from the National Association of Realtors®.
- Ignoring sales prep. If you are eager to move, you may skip the steps needed to properly prepare your home for sale. We urge you not to do this. Instead, take the extra time to add an extra coat of paint, make minor repairs, and do a deep cleaning of your home. No time? Ask your Realtor® for referrals for local painters, handy men, and professional cleaning services.
- Failure to disclose necessary information. It is prudent to be forthcoming about your home’s trouble spots, even if they’re hidden from view and might not be identified during an inspection. Be sure to mention leaks, needed repairs and replacements, flooding issues, and any other problems that could make negotiating more difficult and to avoid a potential lawsuit down the road. Think about the things that would be important to you as a buyer to put yourself in a prospective buyer’s shoes.
- Pricing your home too high. Even in a seller’s market, it is important to sell your home at a fair price. Otherwise, it may be overlooked by potential buyers and remain on the market too long, which creates its own set of problems. Work with your Realtor® to identify nearby, comparable properties and unique selling features, and set a reasonable price for your home.
- Not working with a Realtor®. Experienced Realtors® who are affiliated with the National Association of Realtors® have additional skills and training and make a promise to uphold the industry’s highest ethical standards. Sure, you can sell your home on your own, or work with your cousin Bob, who just got his real estate agent’s license, but choosing a qualified, experienced Realtor® will streamline the process for you and help you get the best price for your home.
- Ignoring curb appeal. Just like ignoring sales prep, failing to boost your home’s curb appeal can be costly. Visit our recent blog post for ideas on how to improve your home’s curb appeal quickly and easily.
- Not depersonalizing your home. Another important part of selling your home is depersonalizing it, so that potential buyers can imagine themselves in your home. If you fail to do so, you could lose a potential sale. Here are some tips on how to maintain your home’s attractiveness while making it a little less “you.”
- Being unprepared for next steps. There are so many complexities in the sale of a home that it is important to understand them and what each step entails, as well as who is responsible for what. Working with a qualified Realtor® can help you understand the steps and prepare for contingencies during the process.
Have questions? Want more information about any of these topics? Contact your local Realtor® or visit the National Association of Realtors® online.