On average, people in America move home 11.4 times during their lives. So, if you own your home, there is a high chance that you will end up selling it at some point.
This requires a lot of practical planning and can be an emotional time. On top of this, failing to organize your home sale properly could mean that your house sits on the market for months. Or you might not get a good price for your property.
So what is the key to selling houses quickly for a great price? Read on to find out eight common house seller mistakes and how to avoid them.
1. Overpricing Your Property
Overpricing your property is one of the most common house sellers mistakes that people make. This can seriously reduce the amount of interest you get from potential house buyers. So it may take longer to sell your home.
The median home price in America is $428,700, but a lot can affect the value of your property. This includes:
- The age of your home
- Any work you have had done on it
- Any work that needs doing
- The location of your home
- The price of homes in your neighborhood
- The overall housing market in America
To set a fair house price, you need to consider all of these factors.
2. Choosing a Bad Time to Sell
When it comes to selling houses quickly, timing is everything. This is because a lot of people prefer to move house during the spring and summer. So there will be more potential home buyers around if you list your property during this time.
This is why the second half of April is the best time to list your property for sale. This allows plenty of time to find a buyer and complete your purchase before moving in the summer.
3. Ignoring Simple Repairs
The home renovations market in America is huge, and you can significantly increase the value of your property by working on it.
However, you may not have the time or budget for this. In that case, make sure you focus on the simple repairs that your home needs.
Leaking faucets, marked walls, and broken light switches don’t cost the earth to fix. But they can make it look like you haven’t taken care of your home, and this can be very offputting for potential buyers.
When preparing houses for sale, inspect your property and make a list of its faults. Then you can decide which ones you can afford to repair and get your home in good shape for viewings.
4. Failing to Prep Your Home For Photos and Viewings
Speaking of getting your home in good shape for viewings, you should make sure that your home looks open and presentable before buyers see it. To do this, make sure that you:
- Clean thoroughly before each property viewing
- Organize your cupboards and closest space (buyers will definitely check these out)
- Declutter your home as much as possible before buyers come over
- Stage your rooms to draw attention to their key features
- Try to keep your decor simple and neutral
- Provide plenty of lighting throughout your home to make it feel open and airy
If you have the time and budget, a fresh coat of paint will always give your home a new lease of life.
5. Not Hiring a Professional Photographer
The photographs on your property listing are the first thing that potential buyers will look at. So invest in these.
A professional photographer will be able to take photos of your home that present it in the best possible light. These will help you catch the eye of potential buyers in no time at all.
6. Forgetting the Additional Costs of Selling Your Home
Selling a home can involve a lot of additional costs, so make sure you don’t forget about these. These might dictate the asking price you have to set or the budget you have to work with for buying your next property.
These costs include:
- Agent’s fees and commissions (usually 6% of the sale price)
- Transfer tax
- Title insurance (between $1,000 and $4,000)
- Escrow fees (between $500 and $2,000)
- Prorated property taxes
- HOA fees
- Advertising costs
- Attorney’s fees
These fees can vary depending on where you live and the services that you use. It is worth finding out about these in advance to make sure you budget for them accurately.
7. Letting Emotions Get in the Way
It’s easy to form an emotional attachment to your home. After all, this can be a place of comfort, support, and refuge. However, when you come to sell it, you need to detach as much emotion as possible from your home.
Try to view it through the eyes of potential buyers, rather than your own eyes. This will help you identify what needs work and where its assets are. This will help you market it well and secure a fair price for it.
8. Not Considering All Your Options
Traditionally, people in America have sold their homes using real estate agents. However, these agents can charge a lot for their services and are not your only home selling option.
You could, for example, choose to sell your home without a realtor. This involves marketing the property and handling the sale yourself.
Alternatively, you could look into selling houses for cash to a real estate investment company. These companies see the value in your property (and its location) and buy based on this value.
This is a great way to get a good price for your property and sell it quickly. You also won’t need to worry about the cost of repairs and home improvements if you sell your home for cash.
Get a Great Price For Your Property By Avoiding These Common House Seller Mistakes
As you can see, there are plenty of common house seller mistakes to avoid when you come to sell your home. Keeping these in mind will ensure that you get a great price for your property and sell it as quickly as possible.
Are you interested in selling your home for cash? Then get a free quote from We Buy Houses, Memphis today! We’re happy to help.