Selling your home can be an impacting life decision that must be executed well to avoid future problems. Should anything go wrong, it could affect your finances and your state of mind, making it important to avoid certain fundamental errors. This will enable you to have a satisfying and successful sale. If you’re trying to sell your home, here are eight mistakes you should avoid at all costs.
Choosing to sell it yourself
Deciding to sell your home on your own could blow your chances of selling it for a much better price. You may be trying to avoid incurring the cost of hiring an agent, but it is best to interview potential agents to be sure you can trust them and then leave things in their hands. Your agent will offer services such as market research to give you a head start. They will also give you more information and advice concerning what to expect to get the best buying offers.
Assuming it will not cost you anything to sell
The idea that you will not be spending a penny when it comes to selling your home is a huge misconception. As soon as you are willing to put up your house for sale on the market, it becomes a product that must attract willing and potential buyers, which comes at a cost. These include the cost of getting an agent, repairing or revamping your home for publicity on the market, and closing costs when the sale is finalised. Take your time to gain more knowledge on how much it will cost you to put up the sale before doing so. It may cost you some money at first, but you will gain the chance to make more after selling.
Hiding major and minor home repairs
Do not try to hide or cover up home repairs instead of fixing them to undermine your potential buyers. Be honest and fix all repairs, including major and minor ones before interested buyers come for a home inspection. Trying to deceive them by hiding issues with your home will delay closing the sale or make the buyers back out when they realise what you are doing. Nobody likes to spend money on a faulty item, so fix all that needs repairs. Pay for professionals to do your home repairs to get a good outcome. Also, do not make the mistake of making costly renovations when there is pending maintenance in your home.
Presenting an untidy home
An unclean home is an unattractive home. Therefore, clean and tidy your house very well for potential buyers to come in and inspect. If it will take a cleaning company to make it look squeaky clean, go ahead and hire one. The more appealing your home is, the higher the chances of getting reasonable offers. Dirty spaces are a turn off for people, so clear the clutter to make your home look bright and spacious. It will make a good impression when interested buyers come around.
Deciding not to stage your home
It is believed that staging affects the impression buyers have of your home positively when they see it. It also increases your chances of selling at a satisfying price. Your agent would know and also recommend home staging to you, which will require your effort and some decorating to stage your home to impress. For instance, you might consider a loft conversion to increase the value of your home. You can also try focusing on a particular room to persuade and influence buyers. For example, you can have a kitchen makeover to appeal to female buyers, or a study or ‘man cave’ for male buyers. Studies have shown that homes that are staged spend 73% less time on the market and sell 17% more than homes on the market that are not staged.
Getting the pricing wrong
The dilemma of pricing too low or too high is a tricky one. You may lose buyers should you overprice, and if it is too low, you might run at a loss. To avoid these issues, recall the market analysis research your agent conducted on homes like yours to set a price. Guidance from your agent should help you to avoid setting an unrealistic price. You can select a fair price to gain more willing buyers by creating a bid where the one willing to pay more gets the house. Moreover, when you are setting a price, bear in mind that buyers will try to negotiate, so create room for it not to lose profit.
Sticking around during showings
It may seem normal to you to be around during showings since you are the seller and it is your home, but buyers will not feel the same. Leave the showings to your agent and vacate your home when the buyers come around. You would want to create room for your buyers to picture themselves living in the house and going about their daily activities to increase their interest in the property. It sometimes feels awkward and uncomfortable for buyers when you stick around, and you may end up standing in the way of your interests and delay selling your property.
Refusing to accommodate more showings
Do not take it personally when more people come to look at your home to decide whether to buy. After all, how are you going to grab the interest of buyers if you do not show them what they are paying for? You should adjust to their timing and allow your agent to show them around. Refusing to do so communicates to buyers that you are not willing to sell; it will make your agent’s work difficult and prolong or cost you the sale of the property. If you want to sell quickly, then be accommodating of showings. Buyers may have different timings, and it may feel uncomfortable, but the more showings, the higher your chances at closing a deal.
It will take time, energy and some money to close the sale of your house, but you have more to gain when you make the right decisions in selling. Avoid the above mistakes and increase the chances of achieving the best deals when selling your home.