Mistakes To Avoid When Selling Your Home
No matter where you’re at in the home selling process, educating yourself about one of the biggest transactions in your lifetime is important. Selling your home can be pretty stressful at times, so you want to do everything you can to prepare for a successful sale. Here are some tips to avoid.
Listing with a bad agent.
This is, by far, the biggest mistake you can make. A bad agent will kill your selling price, leaving less money in your pocket when it’s all said and done. It’s easy to just call up the agent that helped you buy your home years ago, but selling is way different than buying. They may be a great buying agent but have a poor selling record.
Hiring a Family Member or Personal Friend
You might think that working with an agent personally close to you will be fun, but it’s generally not a good idea. When an agent is working with a typical client, there’s more pressure to impress. If the agent doesn’t impress their client, there won’t be any personal referrals from that client.
Setting the Wrong Price for Your Home
You’re not in the wrong for wanting to make a lot of money off of your home, but you might be wrong about how much you think it should sell for. Setting the price too high can cause your home to sit on the market for a long time, making it unattractive to buyers.
Selling it On Your Own
There is an overwhelming amount of data that proves that hiring an agent is the best way to go. If you’re an expert marketer, know how to set the price right, feel like swimming in paperwork, have a ton of free time to show your house and field calls, and are a great negotiator, then you might have a chance of successfully selling by yourself.
Remaining Emotionally Attached to Your Home
I’m a homeowner, so I understand how much a house can mean to a family. It’s time to let a new family take over your house when you’re selling. Do your best not to be offended by a hopeful buyer’s demands. Don’t ruin a selling opportunity because you refuse to leave a light fixture behind that the buyer really wants because you’re attached to it.
Ignoring Problem Areas in Your Home
When gearing up to sell, it’s time to start making repairs and quick fixes.This is a major transaction for the buyer, so even the smallest problems with your home can throw up red flags. Leaky faucet? Fix it. There are too many home improvement stores to not be doing this.
Home buyers use the internet to help them in their search. When buyers are looking at hundreds of potential new homes on websites such as Zillow and Trulia, you want your home to stand out. People are attracted to high quality photos, and you should hire a photographer.
Ignoring Your Home’s Appearance
You don’t have to drop thousands on redoing your landscaping, but ignoring eye sores won’t help you at all. Edge your lawn by the sidewalks, touch up the paint, throw in some new mulch, and go the extra mile with some nice flowers. No home is perfect but if there are too many eye sores they will add up and turn off buyers. Bring a trusted friend by your home and ask them to be critical – like a potential buyer – to help you notice eye sores. It is worth bringing someone in to stage your home, or DIY.
Pack away the pictures of you and your spouse above the TV and the cute drawings from your kids on the fridge. You want potential buyers to visualize themselves in your space.
Ignoring Your Financial Situation
Set up a meeting with your mortgage lender to discuss selling your home. You want to be clear on your remaining loan payoff and any other issues with paying off your mortgage early. Make sure you’re qualified for a loan for your next home, too!