Selling a home is no simple task. Whether you are selling your home yourself or using a realtor, there is a lot of thought, planning, and experience required to conduct a smooth, mutually beneficial transaction. Below are five mistakes sellers make when selling their homes.
Putting off Major Repairs
One common mistake people make is not handling essential repairs before listing a home. While all of these will negatively impact sale price, some are even required by law to be fixed prior to the sale. Therefore, before selling your home, you should correct any known issues that you can.
Don’t make the mistake of renovating areas of the home before you have addressed items that are in disrepair, as this can impact your budget for renovations. Additionally, renovations are not always guaranteed to add significant value to the home, so they should be carefully considered beforehand.
Improper Cleaning and Staging
It is easy to underestimate the value of properly cleaning and staging a home before listing and showing it for prospective buyers. According to a 2019 study performed by the National Association of Realtors (NAR), 83% of buyer’s agents said staging a home made it easier for a buyer to visualize the property as a future home. If a house is cluttered or not thoroughly cleaned, it can be difficult for people to envision it as a potential home.
When it comes to setting the price for your home, it is easy to price too low or too high if you lack experience or haven’t done proper research. A price that is too low can result in a significantly reduced profit from the sale. On the other hand, if you list too high, you may find your house sitting on the market for an extended period.
Choosing the Wrong Real Estate Agent
If you have family or friends that work as real estate agents, that doesn’t always mean they are suitable for the job. It is essential to know if they have the proper credentials and experience. Have they performed this type of sale before? Were they effective? When choosing a real estate agent, it is best to learn as much about their qualifications, selling experience, and customer reviews as you can.