10 Common First-Time Home Seller Mistakes
Selling your first home is a complicated process to navigate, especially if you have limited experience with the selling process. That’s why we have rounded up 10 common mistakes that first-time home sellers make to guide you through the transaction.
Not Preparing the Home for Sale
Potential buyers expect to see a home that is clean, well-maintained, and free of clutter and personal items. So if your home is dirty, filled with junk and in need of a lick of paint, potential buyers will be immediately put off.
Pricing Too High or Too Low
Many people have unrealistic expectations about how much their property is worth. It is important to remember that setting the wrong price can delay the sale of a home and even reduce the amount of money you receive on the sale. That’s why we recommend getting a property evaluation done and seeking professional advice to guide your pricing strategy.
Not Using Professional Photos
A picture is worth a thousand words… and this is especially true when it comes to buying and selling property. Professional quality photos make a huge difference in how attractive potential buyers find your home listing online, so do ensure that you get good, clear, high-quality photos of a property.
Neglecting to Stage Your Home
Another element of preparing the home for sale includes staging your home. This allows potential buyers to visualize how they would use the space if they were living in it and helps them to decide if they would like to make an offer.
Failing to Disclose Known Defects
It is important to disclose any known defects or issues with a property before entering into a sale contract with a buyer, as this prevents any unwanted complications later down the line.
Not Understanding Closing Costs
Selling a home often involves significant financial considerations, one of which is closing costs. These fees are typically based on your local region’s laws (which can differ between districts) and include attorneys' fees and title insurance policies. We recommend that you read up on these fees, and/or seek professional guidance.
Skipping an Inspection
An inspection can reveal important information about necessary repairs or renovations that need to be made before selling the home.
Not Doing Any Research Before Selling
It is essential that you know what is going on in the local market in terms of recent sales and current trends so that you can decide whether it is the right moment to put your house on the market, and what sort of price you can expect. Moreover, it also helps you negotiate with potential buyers effectively, during the offers and counteroffers stages of the sale process.
Being Unresponsive During Showings
Potential buyers may wish to know more information about your property but feel uncomfortable asking questions or making inquiries if you’re present during showings or open houses—so make sure you’re available either online or by phone if they have questions while viewing your house in person!
Not Working With A Real Estate Agent
Experienced real estate agents understand current market trends, pricing strategies, sales negotiation tactics, zoning laws, legal paperwork involved in closing transactions—and much more! They can save first-time home sellers time, energy, and money by guiding them through each step of the selling process from start to finish successfully and stress-freely.
Navigating your first home sale is a complex process. We hope that these 10 common mistakes can help guide you through the process of selling your first home.