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7 Mistakes to avoid when selling a house

Oops sign with a miniature house and coins in the background

Selling a home is not exactly a garden-variety undertaking. The chances for making mistakes are high, which is why it requires research, marketing, and even some light labor.

Learn how to sell a house fast by avoiding the mistakes mentioned below.

#1 Disregarding the market when pricing

It’s tempting to price for maximum profit since West Chester is enjoying a seller’s market and any additional proceeds from a sale can help finance another home. But pricing too high can backfire and leave your listing languishing.

Instead of demanding the highest price, set your sights on a figure that is at or just above market value. You can get an estimate of how much this is by looking atcomparables in your neighborhood. Search for recently sold listings in your area and collect information from thosethat share similarities with your home in terms of size, types of amenities, and street location. The most recent comparables are the most accurate, so limit your search to listings within the past six months.

#2 Listing unprepared

Treat a listing as your home’s stage debut. And, just like any public appearance, it will be met with a critical eye because buyers will always understandably be after a good deal.

Give your home a chance to make a good impression. Clean it thoroughly, rent space to store extra furniture and items, and stage each room to depict it in its best light. Ask a real estate agent for home staging tips for sellers. They might already know about small-scale projects that you can do to impress buyers in the area. These minor projects — repainting rooms, cleaningoutdoor spaces, and upgrading fixtures and appliances — can go a long way to ensure that you attract buyers who are willing to pay a premium.

#3 Ignoring maintenance and repairs

Everyone appreciates a well-maintained home; it guarantees less stress and expense in the long run. Get ahead of any hidden issues by scheduling a home inspection well ahead of your listing. Use the results of the report to prioritize repairs and fix the most urgent ones first.

Staying proactive with maintenance and repairs will guard you against unexpected price reductions or extended negotiations with a buyer.

#4 Not taking enough photos for your listing

COVID-19 will continue to restrict the frequency of in-person showings. In many instances, buyers rely solely on photos and any virtual and video tours to decide whether they will reach out to the seller or not.

Consequently, sellers who don’t provide enough high-quality photos of their home run the risk of being passed over in favor of the next listing. Hire a professional real estate photographer or pick up tips on taking real estate photos. Stunning (and accurate) photos will effortlessly pull buyers to your listing.

#5 Hiring a real estate agent who doesn’t understand your needs

A real estate agent can be your biggest resource and ally in selling your home. But if they don’t take the time to understand your needs, a 5% commission on the sale price is a hefty price to pay.

Watch out for an agent who doesn’t communicate clearly and regularly. Also, keep in mind that you can reasonably expect the following services from your agent:

  • Marketing your home using various methods and media
  • Tapping their network to find a buyerfor your home
  • Negotiating the contract on your behalf
  • Filing paperwork
  • Coordinating video tours and in-person showings
  • Keeping you informed of developments every step of the way

#6 Letting emotion dominate negotiations

No matter how personal it feels, selling a home is a business transaction. Assuming that you’ve done the research necessary to get the right price, resist the urge to get frustrated by low offers or lukewarm interest in your listing.

Stay level-headed and let your agent act on your behalf when your control slips. Interested buyers want a bargain just as much as you want good profit. Understand this perspective but be firm if an offer isn’t fair.

#7 Skimming over the buyer’s financing

The buyer’s mortgage approval can make or break your home’s road to a successful closing. Scrutinize how your buyer intends to fund the home purchase. Request proof of funds on top of a preapproval letter to get a better picture of their finances and to avoid having to cancel a purchase contract because of insufficient financing.

Get more home-selling tips from our local team of experts at RE/MAX Direct! We are an experienced group of real estate professionals who specialize in helping sellers in West Chester, PA close on their home seamlessly.

Call us today at 610.430.8100 or send an email to remaxdirectwc(at)gmail(dotted)com.