Selling your house is a nuanced process that can be both emotionally taxing and intricate. In today’s competitive market, your success relies on adhering to proven practices while being prepared for potential pitfalls. In the following sections, we’ll delve into key blunders to avoid when you embark on the journey of how to sell your house.
Things To Avoid In The Process To Sell Your House
Skipping a Real Estate Agent
If you’re wondering how to sell your house without a real estate agent, it may look like a money-saving move, but there are downsides. Agents have market know-how and connections. Stats show that DIY sales often get lower prices, about $225,000, while agents get around $345,000. An agent knows how to set a good price, handle negotiations, and avoid issues, ensuring a smooth process for how to sell your house.
Setting an Unrealistic Asking Price
When you’re figuring out how to sell your house, one big thing is getting the right price. If it’s too high, it can scare off buyers. About 70% of agents say this happens a lot. Going a bit lower can make more people interested and maybe get more offers, so you end up with more money when you sell it. To do this right, use tools online and ask your agent for help. They’ll help you pick the best price.
Neglecting Exterior Maintenance
When thinking about how to sell your house, don’t overlook the importance of your home’s exterior. Weather can make your house look old with faded paint and deck stains. To impress buyers, use a pressure washer before selling. It makes your property look good in photos and makes it more attractive outside. Clean your garage door, fence, patio, driveway, and walkways too. This makes your place look inviting and nice for people who might want to buy it.
Cutting Corners on Photography
Good photos really matter because many people look for houses online. Think about getting a professional photographer or taking clear, bright pictures in the daytime. This makes your listing look better. You can even try making video tours or using aerial photos to make it even more attractive.
Fixating on the Highest Offer
When you’re thinking about selling your house, don’t just focus on the highest offer. Sometimes, it might not be the best choice for your goals. Traditional sales come with things like financing and inspections that protect the buyer. You need to know about these because they can make the sale take longer, be less certain, and more complicated.
Neglecting Flooring and Carpets
Before getting your home ready to sell, it’s a good idea to refinish hardwood floors and clean the carpets. When you’re already moving furniture around, it’s a convenient opportunity to show off your floors and make them attractive to potential buyers.
Neglecting Necessary Updates
When it comes to how to sell your house, offering it “as is” may not result in the highest sale price unless you’re selling to an investor with plans for renovation.
Today, most people who want to buy a home want it to be ready to move into, like a blank canvas they can make their own. To make your home more attractive, think about getting new appliances, painting the walls in neutral colors, and changing old carpets that look worn out.
Cluttering Your Space
Clearing out clutter is really important to make your home look its best. Get rid of things you don’t need, big furniture that takes up too much space, and stuff that’s crammed into closets. Make it clean and neutral so buyers can picture it as their own place.
When learning how to sell your house, it’s important to note that having mismatched appliances, like a new stainless steel stove alongside older ones, may not have a significant impact on your home’s sale price. However, it can deter potential buyers who are put off by the inconsistent color scheme. To address this issue, consider making changes before listing your home.
Overstaying During Home Tours
When learning how to sell your house, it’s essential to avoid lingering during property tours. When people come to see your house, having you there can make them feel uneasy and disrupt your real estate agent’s work. To make things go more smoothly, think about leaving during showings. This lets your agent handle questions from buyers easily, and it lets the potential buyers look around without any distractions.
Choosing the Wrong Agent or Approach
In your journey of how to sell your house, make sure to choose a real estate agent who truly has your best interests in mind. To do this, conduct interviews, validate their credentials, and inquire about their experience in your specific area and price range.
Neglecting Home Staging
When you’re figuring out how to sell your house, home staging is really important. It means arranging furniture and decorations in a smart way to show off your home’s best parts. Numbers say that staging can make your home sell for up to 10 percent more, which is a good investment for sellers.
Selling During Challenging Seasons
Selling your home in a slow season, like winter, especially during the holidays, might take longer and get you a lower price. But there’s less competition from other sellers. If you can, try to sell when more people are looking for homes, like in spring or early fall. But you can sell all year round. February can be a good time because buyers are usually more focused and less busy.
Failing to Depersonalize
Take away personal decorations and unique design choices to make a neutral space that lets buyers picture themselves in the home. Too much wallpaper, strong colors, or unusual furniture can be distracting.
Leaving Rooms Dimly Lit
Good lighting is really important to show off your home well. Check the lights in each room and think about adding new ones or fixing ones that don’t work before you show your home.
Neglecting Energy Efficiency
Spending money on energy-efficient improvements, like better heating and cooling systems, insulation, sealing up leaky air ducts, and smart thermostats, is a good idea. It’s not only attractive to people who care about the environment, but it also makes your utility bills lower.
Not Ensuring Proper Insurance
Ensure you have appropriate homeowners’ insurance coverage to protect against accidents on your property during showings.
Prioritize showing your home, even during holidays. Keep your home clean and available for tours to accommodate potential buyers.
Unwillingness to Negotiate
Be open to negotiation if an offer falls short of your expectations. Consider compromises, such as covering closing costs or offering repair credits, to reach a mutually beneficial agreement.
Concealing Major Problems
Be transparent about any significant issues with your property. Address them, adjust your price accordingly, or offer a credit to rectify them.
Selling to Unqualified Buyers
Ensure that potential buyers provide proof of funds or pre-approval from a mortgage lender to demonstrate their financial capability.
Disclose recent repairs, known issues, and updates honestly to prevent post-inspection surprises or potential legal issues.
Skipping a Home Inspection
Think about getting a home inspection before listing your home. It helps you know your home’s condition and fix any problems early. If there are issues, you can decide to repair them or let buyers know, which might lower your home’s price a bit. Home inspections are not too expensive, so it’s a good idea to do it. It gives you peace of mind and makes negotiations easier.
When you sell your home, try to think like a businessperson, not let your feelings guide you. If you get low offers or people want to change things, see it as a place to start talking and not as a personal attack.
Underestimating Selling Costs
When you sell a home, there can be more costs than you expect, like commissions, closing expenses, repairs, and things you might need to do for the buyer. Make sure to figure out these costs, which could be around 10% of what you sell the home for. This way, you’ll know how much money you’ll actually get.
In learning how to sell your house, it’s crucial to recognize the importance of mental and financial preparedness for potential challenges. By diligently steering clear of these costly pitfalls and following best practices, you become well-prepared to present your home in the most appealing light and achieve a smooth and profitable sale—ultimately the primary goal of every home seller.