Common Home selling mistakes to avoid.

By: Laddi Dhillon

Common Home selling mistakes to avoid.

Tags: Selling a house is quite a complicated journey, but you can avoid most of the problems of this process with a good real estate agent by your side.

 

One day almost every one of us will be in the situation when it is time to say goodbye to their lovely home and move on.

It is not easy to sell the place where you grew up (literally or figuratively), got married, maybe had children. But the time has come.

Selling a house is quite a complicated journey, but you can avoid most of the problems of this process with a good real estate agent by your side.

However, my favorite motto is “always be prepared.” That’s why today, we will discuss the most common mistakes in a home selling process that you need to avoid.

Inadequate pricing of your house

Pricing mistakes are usually inevitable if you don’t have a deep understanding of how the real estate market works.

Many first-time sellers think that it is better to price your house higher than it really costs. It is quite a logical assumption to leave room for negotiation with potential buyers.

However, it is not a great idea. Most buyers have tight budgets, and they probably will not look at your house seriously if they see that it is priced too much for what it is.

You need to consult your real estate agent to make a market analysis for you to learn how to price a house properly and how much it should cost in your neighborhood.

You didn’t know about all the costs of selling a house

We all have made this mistake. I personally met clients who thought that you don’t need to pay for anything when you sell.

However, it can happen that several hidden costs appear when you sell a house, and if you are not familiar with them, you can get in trouble.

We will name a few of them:

  1. real estate agent’s commission

  2. taxes

  3. staging costs

  4. repairings and renovation expenses

  5. landscaping

  6. legal fees

Like the agent’s commission, some of them are more obvious, but others, like landscaping expenses, are not so much.

You can avoid this mistake by consulting with your real estate agent. Together you will be able to make a list of all the expenses you will have and develop a budget for all of those things.

Home Staging went wrong                   

Well, we all need to admit that home staging is one of the most useful tools in the home selling process. Ignoring home staging when selling a house looks like negligence for potential buyers. It makes your house look cheaper, and you can lose money in the end.

If you wonder how to make a house look bigger, I can definitely say: home staging is the answer.

But what if you put your time and make an effort to stage your home perfectly, but it still doesn’t work? What should you do? In this case, there can be one of these problems:

                             

  1. Your house doesn’t look depersonalized. When you do home staging, try to use a very neutral color palette in furniture and decor. You make it simply because it is your goal to convince every potential buyer that this house can become his or her home. It should look like a blank canvas for people to fill it with their personality. 

  2. You skipped on decluttering. Messy surroundings just do not attract buyers. Before you show your house to a potential buyer, make sure that there are no toys on the floor, no work papers to be seen, and all the surfaces are spotless.

  3. Bad lighting. Making your house feel light and airy drastically increases your chances of a successful and fast sale. If you don’t have enough light from windows in your rooms, place LED candles on tables, add extra lamps, and put stronger bulbs into them.

Your home needs repairs                                                

Major broken things in your home should be fixed even before you go to your real estate agent.

Anything from a single broken sink to damaged air conditioning can turn off buyers from your property. They will just assume that there are more problems on the way in this building and will not want to deal with it.

The thing is that you can fix all the problems beforehand and make your home’s price a lot higher than with all those things that stay broken. We guarantee you that the cost of all the fixes will be way less than the potential amount of money you can lose if you leave it as it is.

Another big problem is skipping the home inspection. First and foremost, this inspection will benefit you. You will be able to find out if something is wrong in your home that was not obvious before and fix it in a timely manner.

Selling as “for sale by owner”

A real estate agent is a specifically trained professional who will help you sell your house as fast, as easy, and as expensive as possible

If you decide to skip on this professional’s services, you can face some troubles on your way. For example, you can spend a lot more time on the selling process just because you don’t know the real price of your home. As a result, no one wants to buy it, and you don’t understand why.

Another problem that may appear is not enough exposure. Professional agents have more resources and connections that help them find as many potential buyers for your property as possible.

Your real estate agent will also warn you about all the pitfalls of the process, like avoiding a mortgage penalty when selling a house.

Bad property’s presentation

Real estate photography is another kind of art that can make people want to buy your house right away or repel them from your property for good.

Using bland unprofessional photos that look like you made them from the basement on your phone’s camera is a recipe for disaster.

On the other hand, misrepresenting your house, making it seem better than it is, is a wrong choice either. Once potential buyers take one look at your house, they will understand that you fooled them and will leave.

So what should you do? Our answer is hiring a professional real estate photographer (you can ask your real estate agent about that) who will capture your house in the most flattering way, exposing its advantages without misrepresenting it.

Working with a professional photographer will show you how much more you can present about your house through a single picture. It will make people fall in love with your home and, eventually, buy it.

Costly renovations

Remember we’ve talked about the budget? When you consider what renovations you want to do before selling a home, you need to stick with three rules:

 
  1. The renovation is within a budget

  2. The renovation will increase the cost of the house

  3. The renovation is desirable by buyers

 

I recommend you stick with simple renovations that will help you make your house more attractive for future owners. These renovations should be relatively cheap, or it is easy for you to DIY them.

You can also think about renovation if your house has something that is considered unique, but it can look unpleasant for some people. For example, nowadays, most people prefer hardwood floors over the carpet, and if you have carpets throughout your house, it would be better for you to replace them.

Another example is old kitchen appliances: you can buy new non-expensive equipment, and it will attract a lot more buyers than if you leave an outdated stove or microwave.

Wrong timing

The last mistake I want to discuss is timing. You can think that there is no such thing as a wrong time for selling a property. It is not a Christmas tree, so it is more than proper to list it for sale at any time.

As a matter of fact, the real estate market has seasons too. Putting your house on the market when the time is wrong can influence your chances of selling it.

Usually, the selling season starts in Spring, so most professionals recommend putting your house on listings around March. However, you can always learn from your agent when is the best time in your particular area.