Mistakes to avoid when selling your home

Neglecting Renovations

It’s easy to become busy with day-to-day life and forget about our homes. Many homeowners forget to maintain their homes or allow them to become outdated. When buyers see a home that needs renovations or upgrades, they’ll often walk away without making an offer. If they do make an offer it may be for less than you were hoping.

Instead, do the right work before listing. Making some updates and renovations before your home is listed could help reduce the odds that a qualified buyer walks away. Consider updating laminate countertops, painting walls with a fresh coat of neutral paint, and addressing any major structural issues with your home.

Show the home as is 

It’s easy for sellers to have difficulty seeing how their homes come across to potential buyers. Buyers are trying to picture themselves in the home. Bold colors, unique finds, and mixed accent pieces can distract buyers from seeing the bigger picture. Don’t underestimate the power of a first impression. Buyers are usually touring a lot of homes and want to ensure they are in the perfect home.

Instead, Stage for the masses! In general, find a place to store at least 1/3 of your decorating items. Try to ensure the pieces you keep are clean, basic, and work with multiple styles.

Not all rooms are equal. Focus staging on rooms that will make the biggest impact. We recommend focusing on the living room, kitchen, master bedroom, and master bathroom. If you have an odd space in your home such as a converted attic playroom, it would be good to showcase that space as a home office or playroom so buyers can picture what the room may be used for.

Focus on the listing prices in your neighborhood

The negotiation process can be stressful for buyers and sellers. Listing your home for too much increases the chances it will sit on the market for longer before attracting a serious offer. Although it is easy to see how much your neighbors were asking for their homes when they listed, it is not as easy to find out how much they actually sold for.

Instead, pay more attention to the Market Price. Do your best to learn how homes in your market are priced and how long they are on the market before you see that Sold sign show up in the yard. Try to view your home from a buyers perspective and be willing to adjust the price as necessary.

Sell to the highest bidder

It can be tempting to accept the first or highest offer you receive. Just because someone made an offer doesn’t mean you can’t get a better one. Accepting a higher offer isn’t always the best idea either. There are often conditions built into those offers— the buyer might want help with closing costs, it may be contingent on the sale of their overpriced home, or
they might insist on a certain upgrade being made. These conditions can leave you worse off than you would’ve been accepting a “lower” offer from another buyer.

Instead, seek out professional help. Not all offers or loans are equal. As this process involves legal agreements, it may be beneficial to seek help from a real estate attorney if you are working to sell your home on your own. Ensure you understand what the offers entail and any contingencies listed in the agreement. Real estate agents sell homes for a living. They are educated in real estate contracts and have hands-on experience working with the types of offers you will receive. Additionally, they have a fiduciary responsibility to ensure they are working to get you the best deal possible.

Working with the wrong agent

Selling your home is a big step and an Agent can help this process go smoothly or create challenges. Your agent should be your advocate through every step of the selling process—eliminating headaches and providing a level of security that you simply won’t get on your own. They also put together all the necessary paperwork, which is something that if done incorrectly, could cost thousands of dollars! 

When you choose to work with an Agent, you should be guided by a professional who has been through this situation before, and who will be able to offer valuable insight. They should be able to market the home extensively and arrange showings so that you don’t have to. They should also serve as a liaison between you and the buyers or their agent.

In closing, we hope this guide has left you more informed and confident in your decision. As with anything that’s worth doing, this will take some effort. But it doesn’t have to be painful. When you work with The Moseley Team, we will educate you on the details of every offer you receive and what it means to you. We will analyze the market to see the chances of a
better offer coming along and we will negotiate the offer on your behalf! 

We are committed to making your real estate dreams a reality. In addition to helping you sell your property at or above market value, we also help renters become buyers, and buyers to become investors. We are here with you every step of the way!