4 Common Home Seller Mistakes

by Janet Murray 01/12/2020

Photo by Mohamed Hassan via Pixabay

If you're like many Americans, your home is your biggest asset. And if you're thinking of selling your home to use the profits for a new home, sending the kids off to college or simply adding it to a retirement fund, there are a few things you may want to avoid to make sure your home sells. 

 Setting the Price too High

Some sellers make the mistake of thinking their home is worth more than comparable properties. A lot of times, living in the home and becoming attached to it may cause an overestimation of the value of upgrades or dismissal of the lower price tag of similar homes with similar features.

When you price a house too high, though, the property may stay longer on the market and go through several price reductions before it finally attracts interested buyers. And if you happen to be in a new home already, you might be paying two mortgage payments while waiting for a buyer to place an offer. Putting the right price on your home helps ensure buyer interest and a quick sale.

Neglecting to Order a Pre-inspection

Some buyers are open to fixing problems, but your cost during the negotiation phase may be significantly higher than it would have been if you hired a contractor to fix any preexisting issues.

A way to solve this problem is to order your own inspection before you put your house on the market. This is also a great way to establish buyer trust, showing that you are transparent about the house's issues when you give them the report or show the report of the issues being fixed.

Going Overboard on Presale Renovations

You love your home, and you want to prove to the buyer that it is a gem. But sinking too much money into presale renovations can mean spending money that you may not get back during the negotiations. You also want to be careful that you're not spending your renovation budget on cosmetic enhancement when the house needs structural improvements. That is another excellent reason to invest in a home inspection prior to putting your house on the market. 

Failing to Choose the Right Agent

The real estate agent you choose to sell your home makes all the difference -- and with buyers' agents requesting up to 6 percent in closing fees, it's important to make sure you find someone who will work hard for you.

What should you look for? Good chemistry tops the chart, since you need to be able to trust your agent to act in your best interest. Other important factors are familiarity with the local market, experience selling houses in your price range, access to good marketing databases, and evidence of a strong network.

Ready to get started with the home selling process? Contact me, and we'll get the ball rolling!

About the Author
Author

Janet Murray

Whether you're in the research phase just beginning of your real estate search or you know exactly what you're looking for, you'll benefit from having a real estate professional by your side. Let Janet Murray put her real estate experience to work for you.

A real estate broker since 2003 including 6 years in a management and marketing role, Janet has an extensive background in residential real estate sales and a skill set that is of great benefit to clients and colleagues alike.

Primarily serving the South Shore of Massachusetts (with the occasional trip North!), her philosophy is simple…she feels that working as a real estate professional is about much more than selling homes; it’s about making connections, building relationships, and working with clients and their families to fulfill real estate goals and dreams. She “loves going that extra mile to make each transaction a personal, positive, and memorable occasion!”

Professional affiliations include membership in the National Association of Realtors®, the Massachusetts Association of Realtors® serving on the board of directors, and locally, South Shore Realtors® where she serves as a 2019 vice-president to the board of directors.A firm believer in education and training, Janet has earned her GRI Designation (Graduate Realtor Institute), the designations of CBR® (Certified Buyer Representative), e-Pro®, and certified PSA® (Pricing Strategy Advisor).