1. Picking the wrong real estate agent (or trying to go without one) - I made this number one on the list because it honestly affects all the rest of the potential mistakes you might encounter. When sellers try and do FSBO or For Sale By Owner instead of using a licensed real estate agent, there are tons of potential pitfalls. But, when you have an experienced agent on your side, they will know exactly what to do, what to look for, and how to get through the process smoothly and quickly. They should be able to guide you through and help you avoid the rest of the seller mistakes you're about to read. Of course, that's assuming you choose the right agent. Often times, people just default to a friend or family member instead of picking an agent with the experience, success, or specialty that would be in their best interest.
2. Neglecting sales prep and curb appeal - Even when the decision to sell is well planned, sometimes sellers ignore some of the most important things a potential buyer will see. Making sure your house looks good inside and out is often the first step in generating real interest with buyers. Having the inside professionally cleaned goes a long way. Make sure everything looks as organized and clean as possible before pictures are taken and before any open houses or showings. Anything could turn off a potential buyer - a bad pet smell, dirty floors or window treatments, or even just cluttered rooms. Of course, the outside of the home is extremely important as well. Make sure the landscaping is freshly done, any necessary repairs are completed, and the driveway/sidewalk/porch are cleaned off.
3. Mispricing the home - Maybe the most important aspect (and most common mistake) of selling a house is pricing! It's often how buyers conduct their searches. If you shoot too high, you may not even show up on someone's radar. If overpriced, it can be the reason a home sits on the market forever. If underpriced, you could be missing out on money. However, if priced right in the sweet spot, it can garner enough interest to sell pretty quickly while still getting you as much as possible. But picking the right price can be difficult. A real estate agent is a serious asset in this area. Often times people have an emotional attachment to a home that can unjustly increase the price they're looking for. A good real estate agent will understand the local market, be able to look at comparable sales in the area, and help you decide on the perfect price.
4. Withholding information from buyers - In real estate, honesty is the best policy. When it comes to disclosing information to potential buyers, it might sound enticing to leave out a few details, but in the long run it's not worth it. Crossing your fingers and hoping a buyer won't notice the leak underneath your kitchen sink or the fact that your back yard tends to flood can lead to serious problems. It can make for a really ugly negotiation period, or even potential lawsuits after a sale. Besides, a home inspection will probably reveal most everything anyway. It's best to be honest with a buyer and work things out in an open, fair, transparent way.
These are just four of the many mistakes sellers can make, especially if they aren't working with an experienced local real estate agent. I'd love to earn your business and help you make the process of selling your home as pain-free as possible!
What's my house worth?
Have questions? Give me a call or shoot me an e-mail anytime.