7 Common House Selling Mistakes to Avoid for First Time Home Sellers
Even with a gorgeous house, you will be having trouble selling a property if you are doing things wrong. One error and that can either cost you thousands or lead to failure to sell your home. The following are seven of the most common mistakes first-timers commit when they try to sell a house:
1. Neglecting The Home’s Condition
No one is going to buy a home that has not been well taken care of. A house, after all, is a major investment. If a home seller cannot be bothered to make the home presentable that can be one red flag that will turn off buyers.
It has already been proven that doing repairs before a resale improves the chances of a house selling quickly. You will need to do maintenance, repairs and updates on your home if you are to hope that you would get even a second look from buyers.
It is especially important that you properly stage your home. Staging is the process of setting up a residence so that it will be ready for sale. The goal here is to make the house as appealing as possible to a large segment of the home buying public.
2. Emptying The House
Presenting the house to potential buyers empty actually puts you at a disadvantage. It will only end up making the buyer feel as empty as the house. Buyers like it when the house they get into has some personality.
This is why home staging is important. When staging the house, you need to leave enough furniture that it does not feel bare without feeling cramped. This is the only way for you to charm buyers into considering your house.
3. Marketing The House The Wrong Way
Your house is a product too so you will need to market it right. With good marketing, you can convince more potential buyers to take a look at your property.
Start by picking out a good photograph that you will use to inform people that you are selling the house. The photo must present a positive and warm look to pull buyers in. Post that photo on the Internet especially on real estate listings. Try to include as much information as you can in the listings and then wait for people to contact you.
4. Pricing The House Too High
There is a science in properly pricing your home. Pricing is a crucial factor for buyers so you need to assign the right price tag to the property. Overpricing or even underpricing can cost you a lot of money.
There are a lot of things that have to be considered in setting the price. This includes the home’s condition, market value, market movement, demand, location and comparable sales.
5. Forgetting To Consider Extra Expenses
A home seller can lose as much as a few thousand dollars by not taking into account possible extra expenses that may be incurred. As a home seller, you need to request and confirm a list of fees and expenses even before the closing day. Asking for discounts and credits on the day of the sale is not going to go well for you financially.
6. Refusing To Hire Professionals
You have to acknowledge that you cannot do it perfectly especially for a first-timer. It is perfectly okay to hire professionals when doing it.
One example is a realtor. A for sale by owner (FSBO) is an attractive option for most home sellers but if you do not know anything about the field, you need to hand over the reins to someone with experience. This way, you can also learn.
Other professionals that can help you sell your home are home stagers, property valuation surveyors, interior designers and photographers.
7. Being Dishonest To Potential Buyers
Potential home buyers do not appreciate it when they feel like you are not being honest with them. Disclose what you can especially potential defects and issues. This also helps you stay out of any potential legal cases that may be filed against you. After all, if you are the one buying a property, wouldn't you appreciate being told in advance of any issues? As the previous homeowner, you should already know what you need to tell the potential buyer.