The 7 Worst Mistakes People Make When Selling Their Home
Selling your home will probably be the biggest sale you’ll make. Ideally, it should be a positive experience; however, it’s reasonable to make rookie mistakes and feel frustrated.
Before you decide how to sell your house, beware of common mistakes people make when selling their home that cause them to lose money. Let’s check out some of these common mistakes:
Mistake #1: Overpricing Your Home
One of the most common mistakes you can make is overpricing your home. When selling your house, you need to investigate the market; if your price is fair and reasonable compared to the market average, more people will be interested in buying it.
Home sellers who overprice their home miss out on the chance to find a buyer in the first months and are forced to lower the price over time until they’re able to sell. The whole process becomes longer as a result.
Mistake #2: Taking Ugly Photos & Not Staging The House
Before booking an appointment, buyers will look at photos, and good visuals attract more people. If you have mediocre, badly-lit pictures and a messy home, it’ll be less likely for someone to show interest.
Declutter, clean, and stage your home before listing it online. Try to put yourself in the buyer’s shoes and picture what you would like to see when looking for a house. If you’re able to hire a professional photographer, do so, and film a virtual tour as well. Nowadays, virtual tours are a must, especially when so many people are still taking extra precautions due to COVID-19.
Mistake #3: Hiding Damages
Something any buyer will hate is purchasing a home with hidden damages. Be transparent about what needs fixing — the buyer may be completely fine with the damages.
Remember, most real estate agents and buyers will require a financing contingency clause, which provides them time to get an inspection done and back out from purchasing a property.
Mistake #4: Not Taking Care of Simple Repairs
It would be best if you took care of repairs that are easy to make; after all, a potential buyer’s first impression will influence their decision to make an offer. Fix leaks, squeaky doors, and any other inexpensive repair that can make your home look better.
Mistake #5: Not Advertising in MLS Listings
MLS website listings give you access to thousands of potential buyers. There are some For Sale By Owner websites that provide you with access to MLS listings; however, if you choose to sell through the traditional selling process of listings, we recommend hiring a real estate agent.
Real estate agents already have agreements and access to multiple listings, where they pay subscriptions. And although you’ll have to pay for their commission, it’s often less than subscribing by yourself to multiple listings.
Mistake #6: Getting Emotional
It’s understandable if you get emotional when selling your home; however, you have to set your feelings aside. Otherwise, emotions can affect your decisions, especially when it comes to pricing.
As part of the selling process, your real estate agent will most likely recommend painting some walls and making other changes to reach a more standard taste. Don’t get emotional if you’re asked to remove that old fashion wallpaper or the cartoon drawings in your kids’ room. Remember everyone has different taste in style and decor, so the more neutral the spaces are, the better.
Mistake #7: Not Being Prepared to Pay Closing Costs
Closing costs are usually shared between the buyer and the seller. Some of the fees you’ll have to pay are title transfer and tax fees, attorney fees, and real estate commission fees. On some occasions, you may also need to perform an appraisal before closing the sale, especially if you’re working with a real estate agent.
I Will Buy House – A Simple Way of Selling
All the mistakes you’ve read can happen through the traditional selling method of listing your website and working with real estate agents. However, there’s another way to sell and save money.
I Will Buy House provides a unique solution to homeowners who don’t want to go through the hassle of selling their homes and waiting months to find a buyer. We are local home buyers in Washington, ready and with enough equity to purchase your property no matter the size or condition.
With us, you sell fast, pay no commissions, closing costs, no repairs, and more.