Five Mistakes That Can Cost You Money When Selling Your Home.



Mistake 1: Pricing Your Home Too High

Even when the real estate market is screaming hot, there is still a threshold for how much

a buyer is willing to pay for your home. Home buyers are smart and have access to many tools

that help them understand the value of properties. A question to ask yourself is my home listed

considerably higher than others that have similar location, amenities, and upgrades?

By listing too high and being on the market longer you leave yourself vulnerable to quickly being

the home that all the buyers ask “What’s wrong with it? Why hasn’t it sold?” This can cause you

to make less money than if the home were listed at a more affordable price.

Mistake 2: Not Getting the Property Show Ready 

You don’t need to do a massive remodel. However, you do need to clean & declutter your

home. Most buyers have trouble seeing beyond clutter and will not schedule a showing if they

do not like the photos. A fresh coat of paint, removing large bulky furniture & deep cleaning

your home can go a long way to getting a great offer.

If buyers can envision themselves living in the home and they think the price is fair, you are

more likely to get an offer.

Mistake 3: Limiting Showings

It’s a hassle to have people walk through your home. Unfortunately, that’s part of the process.

If you have unusual or too many restrictive showing days/hours your home may take longer than

usual to sell. 9am – 8pm are typical showing hours.

The first few days and weekend after you list are normally full of showings. Try not to limit

showings right after your home goes on the market if possible.

Be as flexible as possible. If you work from home be up front with your agent and have them

block out those hours so you are not interrupted. Have a plan of where you will go during

showings. (Don’t forget your pets)

Mistake 4: Price Reduction

This kind of goes back to Mistake #1, but it is also a separate issue. Sometimes even after

being strategic about pricing a home for sale your home may not sell as expected. If your home

has no showings the first two weeks your home may be priced too high, need more decluttering,

better pictures, etc. It is best to talk to your realtor and agree upon a plan of action.

The consequence of waiting too long to change your price is the house becomes “stale”,

meaning buyers will overlook the home simply because they can’t figure out why the house is

still on the market. Home buyers that view the home may write an offer; chances are it may be

under what you are asking.

Mistake 5: Not Trusting Your Real Estate Agent’s Advice

You and your real estate agent do have the same goal...to get your home sold!

When your realtor offers advice, it because of their experience and expertise. It is not because

they do not like your choice of paint color or your family photos.

You want a realtor who is willing to be open, honest and to tell you what needs to be done. Be

open and honest with your realtor about what you can and are willing to do. Remember the

goal is to sell your home quickly and with profit.