COMMON SELLING MISTAKES
MISTAKE #1: CHOOSING AN ASKING PRICE BASED ON YOUR NEEDS OR EMOTIONS INSTEAD OF MARKET VALUE.
Setting an unrealistic or overpriced asking price can be a costly mistake. Buyers may overlook your property in favor of a more reasonably priced home, and you may never get a chance to negotiate. It’s better to set a competitive price that attracts multiple offers than to never receive any offers at all.
MISTAKE #2: NOT PRESENTING YOUR PROPERTY IN ITS BEST LIGHT.
To get top dollar for your home, you need to make it look its best. Make sure your property is clean, bright, and in good repair. Necessary repairs should be completed before listing your home for sale. Buyers may view even minor areas of disrepair as signs of larger problems.
MISTAKE #3: OVER-IMPROVING THE PROPERTY CAN BE COSTLY.
While certain home improvements can increase your property’s value, make sure that any investments you make will provide a sufficient return. Some costly improvements may not be recouped in the sale price. Always keep in mind that repairs and improvements should add more value to your property than their costs.
MISTAKE #4: SHOWING BUYERS AROUND THE PROPERTY YOURSELF.
When buyers view your home, they want to imagine themselves living in it. Having the seller present during showings may make buyers feel uncomfortable and could impede the sales process. It’s best to let your real estate agent handle the showings.
MISTAKE #5: UNDERVALUING THE FIRST OFFER.
Each offer should be taken seriously and considered carefully. The amount of money buyers are willing to pay for a home is often inversely proportionate to the length of time the property has been on the market. Don’t dismiss the first offer you receive as it may be the best one you get.
MISTAKE #6: NOT UNDERSTANDING YOUR RIGHTS AND OBLIGATIONS.
It’s important to read and understand any contracts or agreements you sign during the sale process. These documents are legally binding and could have significant consequences. Always ask your real estate agent for copies of any contracts in advance of an offer presentation so that you can make informed decisions when necessary.
Ready to sell your home and get the best value for your property?
Contact one of our real estate agents today and let us help you navigate the selling process with ease and confidence.
