Selling a home can come with plenty of stressors and unexpected emotions. Whether you’re selling the home where you raised your family, the first property you and your partner purchased together, the first home you bought on your own, or the house where you saw your baby take your first steps, emotions can run high during a home sale. Making mistakes that cost time, money, and even the sale can add stress. Here are some of the most frequent home seller mistakes to be aware of so you can avoid making them yourself.
Overpricing a property
One of the biggest mistakes sellers make is setting an unrealistic asking price. Overpricing can cause your home to sit on the market for too long, leading to price reductions and a loss of buyer interest.
How to avoid this mistake: Work with a real estate agent to conduct a comparative market analysis and use those insights to price your home competitively to attract more buyers and increase the chances of multiple offers. Additionally, have a negotiation strategy in place once you receive an offer. Consider all offers carefully and work with your agent to counter effectively.
Neglecting necessary repairs
Sellers often avoid making repairs, assuming buyers won’t notice or will fix to accommodate their preferences after closing the home. However, unaddressed issues can signal that there may be more significant issues with the house. Ignoring these repairs can deter potential buyers and lead to lower offers.
How to avoid this mistake: Before listing your house, conduct your pre-listing home inspection to identify and fix major problems. This can boost buyer confidence and reduce negotiation hurdles.
Skipping professional staging
A cluttered, outdated house that isn’t staged can make a negative first impression. When your home is on the market, first impressions are imperative, and a well-presented home can make a significant difference in its perceived value. Hiring a professional stager or staging company can ensure your home will present itself most appealing to the buyers in your home’s market.
How to avoid this mistake: Declutter, depersonalize and professionally stage your home to showcase its best features. Neutral paint and minor upgrades can go a long way in increasing its appeal to buyers.
Ignoring curb appeal
Before buyers enter your home, they assess the curb appeal. While some buyers can look beyond a less-than-perfect exterior, many will decide if they like your home before entering.
How to avoid this mistake: Enhance curb appeal by maintaining the lawn, power-washing the driveway, adding fresh mulch, and upgrading the front door with a fresh coat of paint or new hardware.
Being too emotionally attached
Selling a home can be a significant life event, but allowing emotions to cloud your judgment can lead to decisions you may regret. If you’re too emotionally attached to the house, you may reject reasonable offers or overpriced the house due to sentimental value.
How to avoid this mistake: Treat the sale as any other business transaction. Focus on the local market data and buyer feedback instead of your attachment to the house.
Not being flexible with showings
When selling your home, the entire time the house is on the market may feel inconvenient. Keeping the home in show condition, needing to leave the house on short notice, and staying away during open houses can be tiring. However, if you are rigid in your should I have limited available for showings, you may reduce your chance of accepting an appealing offer.
How to avoid this mistake: Be as accommodating as possible with showing requests. Consider allowing virtual tours for out-of-town buyers.
