SERIOUS MISTAKES HOME SELLERS MAKE
Why Selling Your Home Without a Professional is a Big Mistake
Attempting to sell your home on your own can be a daunting task. The expertise of a real estate professional can make a significant difference. Statistics show that home sellers who work with agents sell their homes faster and for more money than those who try to go it alone. For instance, less than 8% of homes in the U.S. are sold by owners (FSBO), and in 2023, the average sale price for agent-assisted homes was $450k compared to $404k for FSBO sales. FSBOs tend to attract bargain hunters, further reducing your potential earnings.
Common Mistakes When Selling Your Home
1. Mis-Pricing Your Home
Overpricing your home initially can lead to a lower final sale price. Fewer buyers will be interested if your home is priced higher than similar homes in your neighborhood. The longer your home stays on the market, the more it may seem that something is wrong with it, eventually forcing you to lower the price below its fair market value. Ensure your home is priced correctly to save time, reduce stress, and maximize your profit.
2. Neglecting Necessary Repairs
Failing to complete repairs before listing your home can cost you. Buyers will likely offer less or request a credit for necessary repairs, which can delay or derail the sale. It’s more cost-effective to fix issues upfront.
3. Failing to Declutter
Clutter can detract from your home’s appeal and reduce its perceived value. One of the most cost-effective ways to improve your home’s attractiveness is to declutter. Clearing out excess items from countertops, closets, and shelves can make your home feel more spacious and inviting, which can lead to higher offers.
4. Using Poor-Quality Photos
High-quality photos are essential in today’s market, as over 90% of buyers start their search online. Poor photos can prevent buyers from ever considering your home. Ensure that your listing features professional-quality images to make a strong first impression.
5. Neglecting Curb Appeal
First impressions matter. If the exterior of your home is uninviting, potential buyers may not even step inside. Simple improvements like a fresh coat of paint, a clean porch, and a well-maintained lawn can significantly enhance your home’s curb appeal.
6. Mistaking Lookers for Buyers
FSBO homes often attract more lookers than serious buyers. A professional Realtor will screen potential buyers to ensure they are qualified and ready to make a purchase, saving you time and frustration.
7. Limiting Showings
To sell your home, you need to make it as accessible as possible for showings. This might mean accommodating showings during inconvenient times. The more flexible you are, the more potential buyers can view your home, increasing the likelihood of a sale.
8. Limiting Your Home’s Exposure
Effective marketing is key to selling your home. Relying on just one or two methods, like newspaper ads or open houses, is insufficient. A good Realtor will use a variety of strategies, including listing your home on the Multiple Listing Service (MLS), online advertising, brochures, and networking with other agents.
9. Being Present During Showings
Your presence during showings can make potential buyers uncomfortable and less likely to consider your home. Allow buyers to explore your home freely and envision themselves living there by stepping out during showings and open houses.
10. Letting Pets and Kids Impact the Sale
Buyers need to envision themselves in your home, not your pets or children. Ensure your home is clean, smells neutral, and is free from pets during showings to appeal to the widest audience.
11. Choosing the Wrong Realtor
Not all Realtors are created equal. A successful and experienced agent will know how to attract qualified buyers and negotiate the best price. When selecting a Realtor, ask questions about their experience, marketing strategies, and past client references. Choose someone who is committed to your sale and makes you feel comfortable.
Key Questions to Ask Potential Realtors
- Do you sell real estate full-time or part-time?
- How many homes per year do you sell when representing home sellers?
- What real estate marketing strategies do you use?
- Do you have a website and/or blog?
- Can you provide references from past clients?
Taking the time to find the right Realtor can make all the difference in selling your home quickly and for top dollar.
Houses that are priced, presented & marketed correctly are selling fast.
Let my 33+ years of Real Estate experience in Las Vegas work for you. 702-378-7055
The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Very Vintage Vegas does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your research and due diligence and obtain professional advice before making any investment decision. Very Vintage Vegas, will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.
