7 Common Home Selling Mistakes
The agent you’re working with isn’t a good fit.
The realtor you’re working with is capable of making the home selling process pleasant or a nightmare. Efficient agents will walk you through each step of putting your house up for sale. They will have their eye out for any potential deterrents. However, if you are working with an agent who has poor communication skills or isn’t as invested in selling the home as you are, then the odds of getting a strong ROI for your property will be nil. Finding a quality realtor begins with research. Refrain from just using whoever shows up on search engine result pages. Rather, consult family, friends, and neighbors for referrals. You should also read reviews, as well as speak to other agents before deciding on one in particular. The longer your home remains up for sale, the less value it will have in the eyes of buyers. As such, it is important for you to choose a suitable agent from the beginning. In doing so, you won’t have to change agents once your property has been listed.
You’ve overpriced the home.
All sellers endeavor to obtain the strongest return on their investment, but occasionally, practicality and judgment are compromised by wishful thinking and emotions. The price your property is listed won’t be what you believe it’s worth. Rather, its price will be based on what homes that are comparable in your neighborhood were sold for. Other aspects include property condition, local demand, market strength, and location, though none of these factors are as important as the comparatives. Overpriced homes are a deterrent for buyers, and could earn you a slew of lowball offers. However, when your home is priced right, you’ll get the attention of potential buyers (as well as their realtors). You will receive higher offers and the selling price you want.
Essential repairs are neglected.
For the most part, buyers don’t want to take a project on. You’ll have to spend some money on both major and minor repairs that your home requires before it’s put on the market, but doing so will raise the likelihood of a fast sale. Even little things – like ceiling cracks or unhinged cabinets – can hurt you. Such visuals indicate no pride of ownership. This makes buyers wonder what other flaws the property has. And while the cost of such fixtures might be expensive, it will be a lot cheaper than having your home sitting on the real estate market for weeks on end. If there isn’t anything wrong with your home, some fundamental upgrades can make a big difference.
You haven’t depersonalized your home.
Buyers need the ability to visualize themselves residing in your property. If they visit it and see family pictures on your fridge, or your mail on a front table, they will have difficulty making a connection with the place. Depersonalization is vital, and is a step that sellers usually neglect. That is because sellers are usually live in the home while it’s on the market. Living in a depersonalized home can be challenging for them. Regardless, selling a home involves psychology in conjunction with marketing and proper pricing. If personal items aren’t removed, buyers will see the property as “your” home, as opposed to something that could be “theirs.” Failure to depersonalize your home before it goes on the market is a detrimental mistake.
Lack of decluttering.
As with personal items, clutter can inhibit a buyer’s ability to visualize themselves living in a home. Besides making the place feel smaller than it actually is, clutter takes away the best assets of your home. To a buyer, it represents your past, not their future. After making the decision to put your home on the market, get rid of anything you don’t need. Store your things away from the home – either at a family member or friend’s house, or in storage. Be liberal when it comes to deciding what stays and goes. The less belongings that remain in each room (closets included), the better ability buyers will have to see each space’s potential.
Lack of home staging.
Home staging involves more than just decorating the place. It sets a home up in a manner that makes it attractive to buyers. Usually, you won’t have to rent new furniture or buy anything for the home. Rather, you will be modifying what is already there, as well as rearranging various things to optimize the appeal of your property. There are a number of simple ways to stage your home that you can do on your own. If you lack the time or creativity to do this job yourself, professional home staging companies can be hired to truly optimize your ROI.
The pictures on your home’s listing are bland.
The initial thing buyers see when looking at listings are the pictures in them. A shortage of pictures – or worse, really bad ones – are a big turnoff. Those who might have otherwise considered buying your property will lose interest. It is important for you to work with an expert photographer - one that specializes in real estate - to shoot photos that highlight the best parts of your home. These professionals can present your property to buyers in an appealing manner. Poorly taken pictures involve ones that are dark (switch the lights on and keep the blinds open when pictures are taken), as well as photos that reveal clutter (the way the home will look during a showing should match the way it looks in listing pictures). Ensure that plenty of photos are taken of your property, and delete anything unappealing.
