8 Mistakes To Avoid When Selling Your Home
While the real estate market turns its wheels 12 months a year, selling a home in the fall months can be more of a challenge. There are fewer active buyers this time of year, and less demand can drive prices down from higher levels in the spring months. However, on the upside, there are fewer sellers, and thus less competition. To take full advantage of the fall market, you should avoid making the following eight home selling mistakes, which were originally featured in an article from LearnVest.com.
1. Don’t…ask for too much money
What you paid for your house should not influence your sales price. You house is only worth what the market is willing to pay. Your Realtor should have their eye on the market and know what homes like yours are selling for now. Pricing your home too high will discourage buyer interest, and your property could linger on the market for months, which is not your end goal.
2. Don’t…skip the marketing
To get the highest price for your house, your Realtor should leverage all marketing options that are available. This includes high-resolution photos of your home, a comprehensive MLS listing detailing all the features and amenities of your house, directional “For Sale” signage alerting drivers to your property, and, if appropriate, direct mail postcards and open houses.
3. Don’t…go it alone, unless you know what you’re doing
If you aren’t experienced at selling homes, let a professional steer the ship. There’s a lot of money at stake. If you try to sell your home on your own, you may not save as much as you think in the end because people who buy For Sale By Owner houses tend to discount the price they’re willing to pay since there is no Realtor involved. Additionally, in recent years, many states have enacted new state disclosure laws that Realtors understand and can help you navigate.
4. Don’t…neglect to fix things that are broken
If potential buyers walk through your home and see a few items that need repair, they may wonder how well you’ve maintained the things they can’t see. Before putting your home on the market, you should spend the time to get your home in show-worthy shape, meaning you should clear your gutters, patch holes in walls, address dripping faucets and loose door knobs etc.
5. Don’t…get emotionally involved
While you may be delighted with your unique decorating decisions, you want your house to look as neutral as possible, so buyers can envision themselves living in the space. This may entail, for instance, removing busy wallpaper and painting the walls a soft, neutral color. It buyer’s don’t fall in love with your home, don’t take it as an insult, it’s simply a deal that didn’t pan out.
6. Don’t…leave your stuff everywhere
You want potential buyers to feel like they could move into your house with their personal items. Your photos and knick-knacks can make the space feel a little too personal. Also, de-cluttering and removing items will make your rooms appear larger.
7. Don’t get offend by a lowball offer
Most buyers are going to try and buy your house for the lowest price possible. If you get a really low offer, don’t get angry. Instead, give the buyer a counter-offer. Typically, most buyers will come back with a second offer, which is a better indication of what they’re really willing to pay.
8. Don’t…lose the sale over something stupid
It’s possible to get almost all the way through a home sale and then to have things fall apart over a minor detail. Don’t let things like light fixtures or draperies stall your sale. Unless it’s a family heirloom, you can probably find another one, but you may not find another buyer at your current sales price. If you feel there are things you cannot leave behind, remove them and replace with something else before your house goes on the market.
For additional guidance on how to sell your home fast and for top dollar, contact the real estate professionals at the Eric Stewart Group. We have over 27 years of experience helping sellers and buyers across the metro area. For more tips on preparing your home for the market, download our FREE Market Ready Guide. And, for a list of our other recommended vendors, download our complimentary Preferred Vendor Guide.
About Eric Stewart
Eric Stewart started his real estate career in 1987 and each year he and his group sell over 150 homes in DC, Maryland, and Virginia. The Eric Stewart Group has completed more than 3,000 real estate transactions, placing Eric in the top 1% of Realtors® in the nation. With a comprehensive approach to marketing and a knack for negotiation, the Eric Stewart Group has built a reputation of trust and tireless persistence throughout the area.