The 10 Sins of Selling
On average, home sellers commit up to five of these home-selling “sins” and lose thousands of dollars on their home sale as a result. The good news? All of these mistakes are easily avoidable — if you know how to identify them.
1. Not hiring a professional to sell your house
Trying to sell your home by yourself is sheer madness, and many sellers who try it soon discover this. Even if you’re in a competitive market such as Boston, and you think your home will sell easily, you need the expertise of a real estate professional to score the best deal.
FREE DOWNLOAD: Why Use An Agent to Sell Your Home
2. Neglecting necessary repairs prior to sale
You will lose money if you don’t take care of repairs before your house goes on the market, because they will most likely be discovered during the home inspection. Do necessary repairs before listing and save yourself the last-minute headache of trying to quickly fix issues such as a leaking roof or botched caulk job.
3. Refusing to remove your clutter and junk prior to the sale
Clutter eats equity and kills deals. With all that extra stuff in the way, homebuyers can’t see the home for its true potential, and the offer will reflect that.
4. Selling your house empty
While clutter is bad, selling an empty house makes buyers feel the same way — empty. They need to be able to visualize how the home looks with furniture and how functional it will be for their own family.
5. Mispricing your home
Overpricing or underpricing your house is a huge money-losing mistake. Work with your agent to list your home at the perfect price to make sure it doesn’t sit on the market for too long, or worse, make you forever wonder if you could have gotten more money.
CRITICAL READING: The Importance of Proper Pricing
6. Not setting the stage for sale day
Remember; buyers purchase with their hearts and not their heads. Create a showplace for your buyers on sale day (but don’t go overboard with music or too much potpourri).
7. Letting your emotions get in the way when negotiating
It’s not uncommon – and almost understandable. But many sellers become emotional while negotiating and lose out on creating a win-win deal. Look forward to a bright future as hard as it may be to let your house go.
8. Neglecting to complete a full set of disclosures prior to closing
This one’s simple. Be honest and reveal everything (plus, what you don’t reveal will be discovered by the buyer). Ask your Agent for help with this. Patrick Parker Realty takes our fiduciary duty to represent your interests very seriously. This includes proper disclosure.
9. Preempting the sale for maximum tax benefits
Even one day can cost you tens of thousands in extra taxes. Don’t be left a day late and many dollars short.
10. Overlooking junk fees and extra expenses at closing
Home sellers throw away thousands by not requesting and confirming a list of fees and expenses long before closing day.
Did we miss any home-selling mistakes? What have you learned in retrospect? Sound off in Comments, on the Patrick Parker Realty Facebook or Twitter pages and don’t forget to sign up for the monthly Patrick Parker Realty eNewsletter for more articles like this delivered straight to your inbox.