Aug
10

Top Home Selling Mistakes To Avoid

Selling

Selling your home is undoubtedly an exciting step — but it’s also an intimidating one. From packing up cherished memories to finding the right buyers, the list of potential hurdles and concerns goes on and on.

Whether you’re moving up to accommodate your growing family or downsizing after a lifetime of memories made, here are the top home selling mistakes to avoid — so you can maximize your bottom line and minimize unnecessary stress along the way.

#1 Picking The Wrong Agent: Choosing a real estate agent who understands your needs and has the skills to do an effective job marketing and selling your house is paramount to your home-selling success. Some people avoid a broker and attempt to do the job themselves — however, homeowners who do this typically take longer to sell and net less money overall.

#2 Skimping On Valuable Repairs: Cleaning and fixing up your house well in advance of placing it on the market is one proactive step you can do to improve every buyer’s impression. Making sure that your house is showcased in its best light can heighten the value and maximize your eventual profit.

Worried about the things you can’t change? Don’t fret — in the home-selling world, minor fixes will go a long way. So which quick repairs are worth it in the eyes of the potential homebuyers? Things like peeling paint, dripping faucets, and stained or scratched flooring are at the top of our list.


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#3 Not Knowing Your (Home’s) Worth: Knowing the value of your property and having a realistic sense of the current buying market will help you manage expectations and put the offers you get into perspective. Overvaluing your property could lead to passing up sensible offers, while undervaluing leaves you open to buyers taking advantage of a deal.

To make sure neither scenario happens, you should rely on your real estate agent to utilize comparable sales (comps) in the area when it comes to sales prices. This a fundamental tool to determine the appropriate pricing for a home, drawing insights from recently sold properties with similar characteristics in the same area.

#4 Skipping The Staging: Trying to market an empty (or worse, messy) house is a common mistake among sellers. Ideally, you’ll want to showcase your house in all its glamour, highlighting its natural features and flexible living space while you’re at it.

That means striking the right balance between setting a scene that’s welcoming, but not overwhelming. Our advice? Show the property with pared-down furniture and little to no personal objects, such as kid’s toys, trinkets, or clutter. This allows buyers to envision themselves living there.

To properly stage your home, you’ll need an outside observer, whether that’s a friend with an eye for interior design or a trained professional. At the end of the day, a professional stager will best know how to highlight the potential of your house while making it look stylish and inviting at the same time.

#5 Letting Your Emotions Get The Better Of You: Selling a house can be a long, arduous process, and having to negotiate your price point and accompanying conditions can be understandably taxing. Even if you avoid the common mistakes above, involving your emotions at the bargaining stage means passing up potential opportunities.

Of course, leaving your emotions at the door is easier said than done. A helpful tip? Try to think of your home sale as a business transaction — weigh the pros and cons of each offer, and don’t take any low offers personally. Above all, you should never make a rash decision when it comes to such an important milestone. Keep in mind that if you pass on good offers while waiting for your ideal buyer, costs of prolonged time on the market along with the additional burden of mortgage or upkeep can add up.

Ready to make moves? Our experienced team will be there every step of the way. Call us at 202.280.2060 or email us directly at jsmira@jennsmira.com.