6 Things to Avoid When Selling Your Home
Selling a home can be a complex process, and there are certain pitfalls that sellers should try to avoid. Here are five things NOT to do when selling your home:
Neglecting Home Repairs and Maintenance:
It’s essential to address any necessary repairs and maintenance before putting your home on the market. Basic repairs can boost your home’s appeal to potential buyers by suggesting it’s been well cared for and will leave a lasting impression. Basic repairs like fixing a leaky faucet, replacing a missing cabinet door, or putting a fresh coat of paint on the walls are typically inexpensive and don’t require a lot of time. Neglecting these issues can lead to a lower selling price and may deter potential buyers. A well-maintained home is more likely to attract interested parties.
Overpricing Your Property:
Setting an unrealistic and overly high asking price can turn away potential buyers. It's crucial to conduct thorough research on comparable properties in your area and work with a real estate professional to determine a fair and competitive price for your home. Overpricing can lead to your home languishing on the market, and you may end up having to reduce the price later.
Not Staging Your Home:
You’ll need to prepare your home for professional photos, showings, and open houses. Think of these as the prospective buyers first impression. Remember, they don’t yet love your home the way you do, so attract them with beautiful photos and a welcoming walk-thru of your home. Dedicate time to decluttering and depersonalizing your home. Allow prospective buyers to envision their belongings there. They don’t want to feel like they are visiting someone else’s home but rather their future home. Before your photographer comes in, remove family photos, knick-knacks, clutter, and clean/dust/vacuum to boost your home’s appeal.
Neglecting Marketing and Online Presentation:
Online presence and presentation is crucial when selling a home. Poor-quality photos, inadequate descriptions, or a lack of online presence can hinder your ability to attract buyers. Invest in professional photography, create a compelling listing description, and utilize various marketing channels to showcase your property effectively. I do all of these things for my clients.
Not Hiring a Real Estate Agent:
Your home is usually your largest asset, so selling it can be complex and sometimes stressful. To help navigate potential pitfalls and ensure a seamless transaction, it’s best to hire a real estate agent. You think you might cut costs by trying to sell your home yourself but real estate agents are expertly trained at negotiating, pricing, and marketing your property. A good agent will pay attention to all of the details for you while educating you and keeping you apprised of all matters along the way. At the end of the day, your real estate agent will be your biggest advocate during your home sale.
Hiring “Uncle Bob” as Your Attorney:
Unless “Uncle Bob” practices real-estate law, please consider hiring an actual real-estate attorney, one who lives and breathes this industry. Your home may be your biggest asset and you need a professional who is extremely familiar with the terms and contingencies of real-estate to ensure you don’t lose precious money for which you’ve worked hard. I have personally witnessed tens of thousands of dollars lost on a transaction due to an ill-prepared attorney who did not understand the complexities of real-estate.
Unless you sell homes for a living, it’s in your best interest to lean on industry professionals to guide you through the process and help avoid potential costly pitfalls. Contact me for a no pressure conversation to discuss your goals.