When it is time to sell your home, you obviously want to get the highest return for it. To do that, you’ll want to avoid these 4 common mistakes that people make when selling a home. Making these home selling mistakes can cost you thousands of dollars.
The 4 common mistakes that cost home sellers the most money are:
1. Pricing Your Home Too High.
Setting a price too high will cause a home to stay on the real estate market longer than it should. Once a house sits on the market with no offers it is stigmatized as having a problem. The sellers next move is to lower the price. This is a signal to the market that there is something wrong with the house. Potential buyers will usually offer less money than the lowered asking price which means you will accept an offer lower than you should. This mistake can cost you thousands of dollars.
2. Skipping the Cleaning or Staging
When buyers tour homes they want to see that the house is clean and well taken care of. If there is dirt or grime they are less likely to bid on the house. Also, home staging is important. Potential buyers want to be able to picture the house as their new home. Remove photos of your family or anything deeply personal that will distract the buyers from seeing themselves living there as their home.
3. For Sale By Owner (FSBO)
Listing your home For Sale By Owner is a huge mistake that will cost you thousands of dollars in the selling of your home. People try to do it themselves thinking it is going to save them money by not paying the Realtor fees but in reality, For Sale By Owners generally net less money than if they worked with a realtor. For Sale By Owners just can’t bring in as many potential buyers with their marketing. Also buyers of FSBO properties will offer less money to try to get a deal. This will leave thousands of dollars on the table.
4. Taking An Instant Offer
We see a lot of advertising for Instant Offers, Direct Offer, or Guaranteed Offers. These iBuyer companies are in the business of offering you less than full market value so they can flip the house to someone else for more money in 30 days. You gain a little convenience in not doing showings but you lose a lot of potential profit in selling your house to an ibuyer.
Those are the 4 Biggest Mistakes I see Home Sellers Making When Selling Their Homes. These mistakes can be costly. Start the home selling process by calling me at 970-203-5066 or contact me here.
*Andy Hawbaker is Licensed REALTOR® with 8z Real Estate in Northern Colorado. Andy Can help sell your home in Fort Collins, Loveland, Timnath, Windsor, Severance, Greeley or surrounding areas.