Selling your home? Here are some common home selling mistakes to avoid
Minneapolis, MN: The time has come to sell your home. Sadly, I still see a lot of people make these very common mistakes. Hopefully this quick article is full of tips to help you have a happy and successful sale of your home.
Sideline your Emotions: Sentimental value?? Forget it. A buyer doesn’t care how much you love the house or anything about your memories there. Be realistic. Treat the sale of your home like any business transaction.
Setting an unrealistic price. It’s important that you’re not married to your price. Most people who are do so because of emotions (see first item). Regardless of what you feel, the local market sets your price. You need to be competitive with the same or similar homes in your neighborhood in order to sell your home.
Not hiring a Real Estate Agent. FSBO, or For Sale By Owner may sound like you are saving money by not paying listing fees. More often than not, after months of frustration, you will end up with an unsold home, then listing with an agent anyway. Real Estate Agents exist for a reason. They are licensed and trained. They know how to properly set sale prices, market, and negotiate the deal with all legal requirements met. Sure, some people can do it, but the other 99% can not.
Skimping on listing photos: Photos sell homes! Everyone looking on the internet these days will “see” your house if they are searching for your neighborhood and price point. What makes them stop at your listing and want to see the house? PHOTOS! Make sure your agent takes great pictures, and that they put as many as their local MLS will allow online. It is also worth hiring a professional photographer, and isn’t very expensive
Trying to sell a dirty or cluttered home: We know you need to live in the home until it sells, but when viewing your home, buyers want to envision how their furniture would look. Cluttered houses and a “lived in” look will simply detract the average buyer. Move out clutter, put it in storage if you have to, and keep the house as shiny and spotless as possible for showings!
Hiding problems: Don’t try hiding problems with the house. Most people have an official inspection. It just wastes everyone’s time to start the process, only to have it discovered later.
Not getting pre-approved for your next house: If you are going to be buying a new home, don’t assume. Talk to a local licensed mortgage professional BEFORE listing your home. The rules have changed. You may assume you’ll be able to get a new mortgage loan, and you may be right. But knowing for sure, what possible payments will be, how much money you’ll need, and current underwriting rules just reduces one more level of stress.
By keeping these common mistakes in mind and doing your best to avoid them, selling your home should be relatively quick, and free of problems.