When you decide to sell your home, it can be a daunting task. There seem to be a thousand decisions to make and questions to answer before the home is finally listed for sale. First-time home sellers often make mistakes before listing, which result in stress, added costs, and an unhappy home-selling process.
In this blog post, we will discuss 7 of the biggest home seller mistakes and how to avoid them, so you can be ready to have a smooth and comfortable home-selling experience.
Mistake #1: Not hiring an agent who has experience selling homes in your neighborhood.
Sellers often think they can sell their home on their own but in reality, they can easily make mistakes in this process, especially if it is their first time selling their home. An experienced real estate agent can help avoid many of these common mistakes, saving you time and money by making the sale process smoother and faster.
Hiring an agent is usually a home-seller’s best bet because agents know the home selling process inside and out. They also have access to local databases that give them instant insight into what other homes in your neighborhood sold for, which will help home sellers set their asking price appropriately.
Mistake #2: Improper pricing.
Asking too much – or too little! – for your home is another common mistake made by first-time home sellers. Home-sellers often list their home well above the market value, thinking that they have a great property and want to get top dollar for it –when in reality they won’t be getting what they are asking for!
It’s critical to look at the prices of comparable homes in your area before you list your own. A comparable home is one that is exactly like yours in home size, home features, and amenities. Comparing the comps to your own home will help you decide what price to list your home for sale at, and avoid asking for too much or too little. Your real estate agent will be a big help in choosing the right sale price as well.
Mistake #3: Forgetting secondary costs.
While home-sellers may be tempted to lower the price of their home in order to sell it quickly, they must not forget about all that will come with selling a home. There are closing costs and commissions that will need to be paid at the end which can add up quite fast, even they choose to sell on their own without an agent!
Asking for too little might seem like a great idea, but home-sellers need to be careful not to short-change themselves. The home’s final sale price should account for the closing costs, commissions, and other expenses (like repairs) that will come with selling a home.
Mistake #4: Not understanding the home’s condition.
Before listing a home, home-sellers should know what is broken or needs fixing inside and out, and the best way to do this is with a home inspection. There are home inspection companies that can help home-sellers identify potential problems with plumbing, electrical wiring, the roof, and more.
This knowledge will give home-sellers a chance to fix or replace anything that needs attention before listing their property for sale, and can significantly increase the home’s price once it goes on the market. Any interested buyer will have a hard time finding a reason to pay less than your asking price.
Mistake #5: Not exploring digital sale options.
Many home-sellers believe that in order for a home sale to go smoothly, they need showings on their property. Even ten years ago, this used to be true, but today it’s actually the sellers who focus only on showings that are at a disadvantage in the housing market.
In the digital age, home-sellers have a huge opportunity to sell their home online, which can save time and money for both parties. In fact, today’s home buyers are more likely to search listings on an app or website than any other method.
Today’s convenient real estate technology, like the AQRE Home platform, connects your listing to a much wider audience and makes it possible for buyers to purchase your home from another location, without ever setting foot inside.
Home sellers who try going old school with paper fliers, open house signs, and a focus on showings, may be missing out on these digital sales.
Mistake #6: Being guided by emotion over reason.
First-time home sellers are often very emotionally connected to their home, which they have often owned for a long time. This is fine when living in the home, but becomes a problem when it is time to sell. Home sellers who get emotional about the sale of their home may be unable to accept the home’s flaws and price it realistically, or have trouble making decisions between different offers and end up giving away money that they could have made if they were a little more objective.
This is where an experienced real estate agent, or an adviser like those on the AQRE Home customer care team, can be a huge help to sellers by explaining things objectively and guiding them through complex decisions. Because it’s important to let logic and reason guide the sale, and not let yourself get caught up emotionally, or you may make a critical mistake.
Mistake #7: Selling at the wrong time.
The final mistake that first-time home sellers often make is to list their home for sale at the wrong time. The local real estate market is in a constant state of change due to the seasons, interest rates, new home construction, local zoning changes, and all sorts of other factors that can influence your sale.
Not all real estate markets are created equally, so unless you are under a time constraint, it’s important to let your agent determine when is a good time to sell in order to avoid making this mistake!
If you’ve been considering selling your home, but aren’t sure how to go about it or what other mistakes home sellers often make, AQRE Home is here to help.
Our AQRE Home customer care team has 30 combined years of experience and knowledge of home-selling that can help guide first-time home sellers through all stages of their sale – from start to finish.
We want every customer who comes into contact with our company (whether as a buyer or seller) to be successful in their transaction and use their expertise to provide any additional needs they may have, like mortgage planning with our partner service, AQRE Lending!
If you need more information on whether now is the right time for you to list your home for sale, please visit us online at www.aqrehome.com.
Thank you for reading this blog post! Please feel free to comment below with any questions, concerns, or general feedback about the AQRE Home platform and customer care team. We love hearing from our users so we can provide them with an even better experience in real estate!