If you’re like most people, your home is your largest, and most valuable investment. When it comes time to sell, you’ll want to profit as much as possible. And so does the next guy. That’s why it’s important to remember that when selling your home, you’re in competition with other home sellers in your area, and just as in any other competition, mistakes can be costly. Here are some of the most common home seller slip-ups to avoid:
- Overpricing or under-pricing. A comparative market analysis is not only necessary, but a major aid in helping you set the best price for your home.
- Selling “as is.” In the competitive home sale marketplace your home should be in “move-in” condition from the first day it’s listed. It’s important to know your home’s key assets and find ways to highlight them, as well as identify and correct those items which need improving.
- Over-improving. While clearing out clutter, deep cleaning and making repairs are important ways to get your home ready for sale, undertaking a major project could cost more money than you would recover from the sale. However, some major repairs, such as replacing a roof, should be done if they are needed.
- Selling it yourself. While not necessarily a slip-up, it is important to note that doing your own marketing can be a tempting way to save money, however, recent surveys show self-sellers net about 3% less from the sale of their homes than sellers who use a real estate agent.
- Ignoring your agent’s advice. As experienced professionals, Realtors know what works and what doesn’t. If you haven’t contacted an agent about selling your home, it is highly recommended that you do so. An agent can work with you, discussing many recommendations and working with you to find the best way to sell your home.