If you are going to sell your first home, you may be a bit overwhelmed. While it helps to read up on the entire process, know that there are a lot of other important factors to consider. Making a single mistake may cost you a great deal of money. So, it’s important to seek expert advice and avoid making costly mistakes. Let’s talk about 10 mistakes that many first-time home sellers end up making when selling their house, and the ways to avoid those mistakes.
- Don’t use poor quality photos
No matter what you are going to sell, be sure to take the highest quality photos. The purpose of HD photos is to show a house from all angles in the best light. Moreover, it’s important to keep in mind that most house buyers look for their desired houses online. So, your listing should have several high resolution photos of your property so that it could attract the eyes of as many buyers as possible.
Don’t forget to remove all the clutter before taking photos with a quality camera in natural lighting. Many sellers just take one or two poor quality pictures hoping to get a great deal. So, don’t make this mistake.
- Don’t rely on just one valuation
Don’t just rely on one valuation. It’s not possible to know the real value of a house without getting multiple valuations done.
After all, you may not want to price your property too high or too low. A house that is over-priced will scare off many potential buyers. On the other hand, if you price your property too low, you will lose a big chunk of profit.
Looking at comparable is another way of pricing your property. Find out about other properties in the neighborhood that are just like yours. Make a note of their asking price and amenities. Next, find out if your house can compete with them. It’s better to have as much information as possible.
- Don’t be stubborn
Your stubbornness can create hurdles in your way of getting a great deal. You want your potential buyers to come to see your house on a certain day of week only. You don’t want to clean your home before each viewing as it requires a great deal of effort. Besides, it is a lot of hassle to make small renovations to your house. But keep in mind that if doing all these things can help you sell your home for your desired price, it’s still worth it.
- Don’t hire an inexperienced agent
It’s not a good idea to hire an inexperienced or unqualified agent. It may be tempting to opt for a cheap one, know that you are going to count on this person to get a good price. So, it’s better to look for the best agent.
- Don’t ignore the closing costs
Another common mistake that first-time sellers make is underestimating the costs associated with closing and other matters. Sellers have to pay for closing costs, such as solicitor fees, commissions, taxes, transfer fees, title insurance and property taxes.
And don’t forget about the realtor commissions. Typically, their commission can be 6%, give or take.
- Don’t market the wrong way
People also make a lot of mistakes when it comes to marketing their house to grab the attention of maximum buyers. For maximum exposure, search engine optimization is really important, and you want to show up at the top of the SERP. For this, you need to add the keywords related to your property to the description of your property.
Make sure that the description is easy to read and informative. Most people just scan web pages when looking for something that they need. So, bullet format and video tours may help a lot.
Don’t just stick to one platform when advertising your property. While it’s a good idea to advertise your home on Realtor or Trulia, do give a go to social media platforms, such as Facebook and Twitter as well.
- Don’t sell if your house is in poor condition
Selling a property that’s in bad condition is another common mistake. If your house is in poor condition, do the necessary repairs first to get it ready. It’s not enough to just wash the bed sheets and remove the clutter. Perform some updates and quick fixes as well.
You may have higher chances of a getting a great deal, if you perform necessary updates and repairs. A house that requires maintenance may have a bad impression on potential buyers. So, be sure to avoid this mistake.
- Don’t hide significant problems
If your house has some issues, don’t hide them. There is no point in hiding those issues, as a professional house inspector will uncover them during an inspection. If this happens, the buyer will think you are a dishonest seller. As a result, they may just stop doing business with you.
If you can’t afford to do the repairs yourself, don’t hide those issues. Instead, what you should do is list your property at a lower price. Another way is to provide credit with the buyer to fix the issues after the deal is closed.
- Don’t sell in the winter
It’s better to wait for the summer to approach before you sell your house. The reason is that winter is a slow time as far as selling a real estate is concerned.
During the holidays, most people follow a social calendar. So, they don’t usually make plans to buy a property. Those who have school going kids don’t want to move to a new house until the summer season arrives. Therefore, it’s better to list your house in the spring instead of winter.
But if you do have to sell your house urgently, just go ahead and list it. However, keep in mind that getting a great deal may not be easy in winter.
- Don’t be emotional
Lastly, don’t be emotional when negotiating with potential sellers. When selling your house, think like a businessperson instead of a homeowner.
By looking at the deal from a financial angle, you may find it easier to put your emotions aside when making negotiations to get your house sold for top dollar.
The Takeaway
In short, if you are thinking of selling your first house, be sure to pay heed to this piece of advice. By avoiding these mistakes, you can get your property sold at the best price possible.