4 Biggest Mistakes People Make When Selling Their Home

4 Biggest Mistakes People Make When Selling Their Home

The housing market is on fire right now, with people buying homes sight unseen, getting into bidding wars, and struggling to gain a foothold in a marketplace where demand is outpacing supply. Still, even in such a hot market – a time when just about any house will sell, often above fair market price – certain mistakes can significantly compromise your sale.

If you’re currently preparing to sell your home, beware of these four common errors. These mistakes can cause your property to stagnate on the market, leaving you stuck with a property you’re trying to sell and at a disadvantage in negotiations.

Mistake #1: Not Preparing Your Home

Before you list the house, the first thing you need to do is prepare the structure and space. That means doing basic renovations like applying fresh paint throughout the property, improving curb appeal by tidying up the yard, and staging the interior.

While your real estate agent can help you with staging, before they can do that, you’ll need to declutter your home, organizing your possessions, packing away personal items, and donating or selling things you don’t need.

When your home is cluttered or still has too many personal elements, it’s hard for potential buyers to imagine themselves living there. Clear things out and keep it simple.

Mistake #2: Going the FSBO Route

At a time when homes are selling so quickly, it’s easy to think that you don’t need a real estate agent. However, this might be the biggest mistake you can make. Sure, selling your home yourself may save you some money in terms of agent fees, but because you lack the expertise, you’ll likely have to accept a lower sale price and will likely struggle to market your property at all. At the end of the day, it just makes sense to hire a real estate agent, even when properties are selling quickly.

Mistake #3: Hiring The First Agent You Talk To

When people sell their homes, the majority hire the first real estate agent they talk to because this is how we approach many professionals in our lives; unless the interaction is terrible, we keep moving forward.

In reality, though, it rarely makes sense to work with the first person you talk to, whether you’re hiring a real estate agent to sell your home or picking out a doctor. Instead, take your time interviewing different agents, asking questions, and finding someone whose approach feels right for your situation.

Mistake #4: Not Disclosing Problems

Every home goes through an inspection before the sale closes, but there will always be things about a property that only the owner really knows, such as that the basement floods when it rains or the doors are crooked and get stuck when it’s humid.

So, as much as it seems like it will compromise your sale, disclose these little details. Tell potential buyers both what you love about the property and what’s not quite right. This isn’t just the ethical thing to do, but if you have bigger problems with the property that are hard to find – the kind of problems that could escalate into serious issues over time – it will also help protect you from lawsuits down the road.

A great real estate agent can help guide you in the right direction when selling your home, but a stubborn client will get in the way every time. Pay attention to your agent’s advice, do your research, and know that everyone makes mistakes, especially if this is the first time selling a home.

It’s a confusing and sometimes frustrating process, so your goal is to minimize your mistakes – and working with and listening to the right professional will help you stay on the right path.