Avoid these Common Mistakes When Selling a Home
Selling a home can be an exciting and emotional time, whether it’s your first or your fifth experience. Of course, you don’t want to end up with a bad case of seller’s remorse when the process is complete. Follow these tips to avoid common mistakes home sellers make, and you should be in the clear.
Selling Without an Inspection
Getting a home inspection is essential for buyers, but sellers should also do the same. It’s possible to live in a home for years without noticing certain issues, and you don’t want to be blindsided by them when you’re in the middle of the selling process. It’s better to know what you’re working with so you can make pre-sale fixes and represent your home accurately to agents and prospective buyers.
Pricing Your Home Too High or Too Low
It’s pretty rare that sellers will price their homes too low, but it does happen. Real estate markets are always changing, and last year’s pie-in-the sky price might be less than today’s realistic asking price.
It’s far more common that sellers overvalue their homes. Overpriced listings are more likely to receive lowball offers, which can be insulting and time-consuming. If you’re just testing the market and are in no hurry to move from your current home, then go ahead and ask for that dream price. But if you’re eager to sell, you will be better off choosing an asking price that’s commensurate with market heat and the home’s condition and location, among other factors.
Showing a Messy Home
When you’re still living in a home that you’re trying to sell, it can be difficult to keep it in open-house condition, especially if you have children. But don’t slouch on the cleaning when you’re showing your home to prospective buyers. You might be able to overlook the clutter, but they may not be, and first impressions are everything.
Investing Too Much in Pre-Sale Upgrades
Some home sellers prefer to bolster their home’s value by upgrading appliances or remodeling before they list the home. This can be a successful strategy with a respectable ROI, but it does have its limits. Upgrading the kitchen or master bath isn’t a bad idea, but don’t upgrade your home too much, or you’ll have a very difficult time recouping your investment.
Letting Your Emotions Get the Best of You
Selling a home can bring up some real emotions, but you’re better off keeping them to yourself when negotiating with prospective buyers. Remember, your sentimental attachment has nothing to do with your home’s actual value, and you’ll need to realize that to potential buyers, this home that holds all of your precious memories is just a house.
Hiring the Wrong Real Estate Agent
Some sellers have excellent luck listing their homes FSBO, but for most people, hiring a real estate professional is a much safer bet. An experienced, reputable agent will have the inside track on local market conditions, and you’ll be able to take advantage of their marketing reach, which may help your home sell more quickly.
If you happen to be in or near Kansas City, hire the right real estate agency and contact a ReeceNichols agent today. We’ll help you through the home buying process and ensure you get the maximum price for your home.