Home Selling Mistakes You Need to Watch Out For
Of course, you don’t want to make mistakes that could jeopardize the selling of your home. Although some mistakes are only minor and forgivable, others aren’t so simple to just pass by.
To help you avoid those selling mistakes, here is a checklist you need to check before putting your house up for sale:
Choosing not to hire a real estate agent or hiring the wrong one
If you’re a first-time home seller, navigating the waters of selling your home on your own may not be the wisest move to make. Instead of making a big deal about that 5% or 6% commission to give to your real estate agent, think about how they can help you sell your home instead. For one, they know the tedious process, and they’re expert negotiators. Aside from that, they’re knowledgeable about the market as well.
However, ensure that they have a good track record and that you are comfortable working with them.
Setting unrealistic selling price
One of the common mistakes home sellers make is pricing their homes too high. If you don’t want to keep your house on the market for too long, price it right. Talk to your realtor, do a CMA, and ask around the neighborhood about the current market conditions.
Not investing in real estate photos
Your home’s photos are the first thing interested buyers see. Of course, you want to sell your home quickly and for top dollar. So if you have only little to no talent in real estate photography, you’d better invest in photographers.
Not cleaning or decluttering enough
A clean and decluttered home always makes a difference. Not only will it entice more buyers, but it will also somehow increase the home’s value.
Selling home out on whim
Some sell their homes without thinking because of debts or a marriage that has hit rock bottom. If you’re currently facing emotional issues and thinking of selling your home, invest time in thinking about the matter thoroughly. Selling it without a proper plan will not cut it.
Expecting to receive the home’s asking price
Smart buyers will always know how to negotiate. So, when pricing your home, make sure you have a plan in place that will still benefit you after all of the negotiations. It’s not always the case that the seller will receive the home’s asking price.
No property insurance
You now probably have a homeowner’s policy as required by your lender from selling your home. It’s not always a guarantee that no accident will happen during the home showing, despite the preparation you take. If there is an accident and the other party sues you, it will be a lot easier to handle since you’re now already covered by the insurance.
Hiding major problems
If you want to sell your home smoothly, be honest. You may be able to achieve your goal now, but if you’re hiding some serious problems around the house, it might complicate things in the long run.
Not calculating the selling expenses properly
The secret to selling your home for a top profit is tracking the expenses, no matter how small. Home selling expenses will also determine how you can price your home for the best returns.
Too rigid for negotiations
Not every home selling experience will go your way, so be flexible towards any price negotiations. If you want to sell your home faster, always be open to negotiation. Don’t forget to ask for help from your real estate agent.
