Your home may be the biggest thing you will ever sell. It pays to be informed about what you should do, and more importantly what not to do. Here are 5 home selling mistakes you’ll want to avoid when selling your home.
1. Listing Your Home Before It’s Ready
In your rush to put your home on the market, don’t miss the opportunity to prepare your property. It’s easy to think you can list your home and take your time finishing the bathroom update or getting a new roof installed. Once the photos and listing are up, though, your home needs to be ready for potential buyers to see. You have exactly one chance to make a good first impression. All your planned preparation should take place before the house is listed on the market, not after.
2. Over-Valuing Your Home
Be careful not to over-value your home. Many sellers are tempted to list for a higher price, anticipating that the buyers will negotiate down to what the seller really wants. Unfortunately, this means many potential homebuyers won’t ever see the listing if it’s set higher than their maximum budget. For optimal pricing, rely on the advice of your real estate agent and actual market value.
3. Being Present for Showings
You know your house in a different way than your real estate agent. You know the width of the crown molding, the names of all the paint colors, and the cost of the stainless steel appliances. You are also emotionally attached to your home. If you are around for a showing, it can become awkward if you’re hovering and putting in your two cents. Trust your real estate agent to conduct showings without your presence. If a buyer has any questions about details, such as the name of the flowering shrub in the front of the house, your realtor can relay the information from you.
4. Not Negotiating
Home sellers often receive offers that are far below the asking price. Don’t feel insulted if this happens to you, and certainly don’t refuse to negotiate. Seriously consider every offer and remember that homebuyers are trying to make a house purchase that will get them the best deal. Negotiation is just part of the deal process. When you show willingness to negotiate, you get the potential buyer emotionally vested in your house. As soon as they find out you’re considering their offer, they will start to dream about living in your home. At that point, buyers are often willing to go beyond their budget to get the home that they want.
5. Using Poor Quality Photos
During the years you’ve lived in your home, you’ve probably taken lots of lovely photos that are perfect for the family memory book. However, they aren’t exactly ideal for a real estate listing. The photos in your listing should represent what you’re selling in a way that potential buyers can envision creating their own memories there. Consider hiring a professional photographer to take your photos so that your home is represented in the best possible light.