Selling your home can be an emotional process. What makes it even tougher is that it’s also a business decision, one where it’s unwise to let your emotions run the show. Doing so can lead to making a mistake that could potentially cost you your ideal buyer.
With that in mind, we laid out four of the most common home selling mistakes, as well as how to fix them. Read them over to make sure that you don’t fall into any of these all-too-easy traps when it comes time to find a buyer for your home.
Pricing too high
The Problem: We all think our houses are worth their weight in gold. However, when it comes time to sell, it’s important to realize that sentimental value is not the same as fair market value. If you price your home too high, you risk just sitting on the market. The fact is, the way listing searches work these days, buyers are shown homes within a certain range of prices. You need to be in the right range in order to appeal to qualified buyers who will be interested in your home.
The Solution: Look at comparables. These are similar properties that have sold in your area within the last few months. Your real estate agent can pull them up for you. They’ll give you an idea of the right price range for your property.
Skimping on photographs
The Problem: When selling your home, the photographs are what get people in the door. They’re the first impression that potential buyers get of your home when they’re looking at listings online. Unfortunately, even if your home looks great in person, if it’s captured with bad photos, it won’t even get a second glance. Many potential buyers will pass it over for more photogenic properties, even if your home is ultimately a better deal.
The Solution: It’s important to make that first impression a good one. If you’re planning on taking the photos yourself, make sure that each room of your home is clean and well-lit before you do so. Then, be sure to capture the room from a variety of angles so that viewers can get a true sense of the layout of your home. Alternatively, go ahead and invest in a professional so you can rest easy knowing you can count on a job well done.
Forgetting to stage before showings
The Problem: We know that getting out the door before a showing is hectic. However, if you leave clutter on counters and dirty dishes in the sink, potential buyers may not be able to see past the mess to get a true sense of your home. Ideally, before showings, your home should look staged and newly cleaned in order to leave the best impression possible.
The Solution: Follow our home staging tips to get your home looking its best. Then, before each showing, work on sprucing up a little. Put away any clutter like kids’ toys or pet paraphernalia. Finally, do a few small cleaning tasks like wiping down counters and floors to make sure your home really shines.
Letting your ego run the negotiations
The Problem: Negotiations can be emotionally taxing, especially when buyers try to sneak in low-ball offers. Sometimes, it’s only natural to get a little frustrated. However, when you let your ego take over during negotiations, it can be a recipe for disaster. You may end up passing over or talking yourself out of an offer that would ultimately satisfy your end goal – selling your home.
The Solution: Remember that selling your home is a business deal and try to take a step back from your emotional attachment to the house. Figure out what your priorities are for the sale, whether it’s a bottom line sale price or a certain settlement date, and focus on that. Any offer that gets close to satisfying that priority is worth negotiating. Make sure you’re willing to both give and take.