Six Mistakes Home Sellers Often Make

Real Estate

Make sure and hire a knowledgeable Realtor who can assist you in preparing your home for the market.  Don't hire an agent just because they are cheap.  You get what you pay for. If you are thinking about selling your home, you need to consider these mistakes that are often made by sellers. 

1.  Overpricing your home

This is one of the most common mistakes.  The market will determine the correct price for your home, and the market is constantly changing.  If an agent tells you they will list your home for more than what the market analysis shows, ask why and how they will make that happen.  Some agents will sell you on the fact that they can get you more money knowing full well that they will need to lower the price to get it sold.  If you price it right in the first place, it will sell quicker and may result in a bidding war.

2.  Not Staging to Sell

You must understand that a staged home is very different from the home most of us live in.  Staging is used to evoke emotions in buyers.  It highlights features in the home and makes it feel more spacious.  Your home will sell quicker and you will make more money.

3.  Not Replacing Old Carpet

Buyers will be removing their shoes when they enter your home.  If your carpet and pad are old and worn, they will notice.  You should be able to find a good grade carpet without spending too much.

4.  Not Painting

New paint can do wonders to a home and it is fairly inexpensive.  Make sure and do a nice job though.  Paint all over the trim and ceiling is a big turnoff.  Also remember that wallpaper is out.  This is a pain, but removing it and painting will make a big difference.

5.  Not Making Necessary Repairs

In today's market, nearly all buyers will have an inspection.  It is much better to have your home in top form when the inspector comes through.  Not doing so will create problems down the road.  You may have to repair items, reduce agreed upon sale price, or the worse case scenario the buyers could walk.  Another thing to consider is a Home Warranty.  Older furnaces and water heaters may be called out by the inspector as "nearing end of useful life".  A warranty gives the buyers peace of mind for those items.

6.  Not Disclosing

The Disclosure Statement is very important to the buyer.  Make sure and document any issues with the home and when they were repaired.  Also provide as much detail about large home improvements as possible.  If you have a brand new kitchen in a 1960 home, buyers want to know that everything was done correctly.