The only thing worse than selling your cherished, loved and lived-in home? That’d be NOT selling it.
The wasted time, energy and resources are enough to frustrate even the most nostalgic homeowner. Especially if you’re stuck paying your old mortgage and one on your new place to boot.
But homes don’t sell themselves, and while you’re not expected to manage the entire sales process yourself (you likely have an agent for that), there are a few key ways to keep your sale on the right track.
Want smooth sailing toward your home sale? Avoid these all-too-common seller mistakes:
Pricing it wrong.
There’s no bigger mistake than a home priced too high. It’s an immediate barrier to entry right off the bat, and you’ll likely have a hard time even getting buyers to step through the door. Work with a local real estate agent to set a reasonable price based on local comparables, market demand, and other factors, and — here’s the real key — trust their recommendations. They want to sell your home as much as you do.
Not getting a pre-sale inspection.
Most buyers are going to get a home inspection so why not beat them to it and do one before listing?
This could prevent any unwanted surprises from derailing your sale. It gives you time to make any repairs your inspector deems necessary long before a buyer can notice them.
Selling it yourself.
FSBO, or for sale by owner, isn’t as common today as it once was, but some homeowners still opt to try it. Unfortunately, the results are rarely good.
Not only are FSBO’s statistically linked to lower sales prices (a difference of about $60,000 per sale last year), but they also often take longer. Owners aren’t equipped to properly price their home. They don’t have access to all the marketing tools and connections that an experienced agent would and they’re not well-versed in the contracts and paperwork required to execute a sale. It’s an uphill battle from the start.
Skipping video marketing.
If your agent offers to create a video tour of your home, even at an extra fee, take it.
According to Inman, videos deliver the biggest return of investment of all real estate marketing tactics. They typically get four times the number of inquiries. Video tours are also easily shareable on social media and e-mail, just another added bonus.
In the end, there’s no wrong or right way to sell a home. But avoid these mistakes and team up with an experienced local agent, and you’re well on your way.