4 Biggest Home Selling Mistakes

The biggest home selling mistakes are actually quite easy to make because there’s a lot of misinformation and misconception about the process. When you decide to sell a home, you’re obviously making a big decision. And, with all the time and effort you’ve put into the property, you most certainly want to earn the largest return on your investment. Unfortunately, trying to stretch this particular margin is precisely where too many home sellers go wrong. So, let’s take a quick look at the four biggest home selling mistakes to avoid.

Home Sale Preparation Tips

First, let’s get into what you need to do. Three strategies will serve you the best: decluttering, depersonalizing, and deep cleaning. These are essential because of repeatedly backed-up statistics. Two of which are quite telling. One is that it only takes buyers between 7 and 10 seconds to form an impression of a property. The second is that just 1 out of every 10 people can imagine a space other than how it’s presented.

“‘Your house is only worth what the market is willing to pay you,’ says certified financial planner Ellen Derrick of LearnVest Planning Services, who has bought and sold at least eight homes, including investment properties. ‘It doesn’t matter what’s in it. And it doesn’t matter what your mortgage is.’” Your realtor has an eye on the market and knows what kind of prices homes—just like yours—are garnering now.” —Forbes.com

These two facts alone show how important staging a home is and what it can do for you as a seller. So, commit to decluttering, depersonalizing, and deep cleaning. By doing these three things, you’ll transform your house into a model home, setting it apart from the competition. Also, be prepared to show it at any time. (After all, most buyers will look on nights and weekends, the same times you have free-time, as well.) While this will present a challenge and pose an inconvenience, it will help to sell faster and for more money. Otherwise, the property will only linger on the market.

4 Biggest Home Selling Mistakes

Now, it’s also imperative to avoid critical missteps, at the same time. If you commit one or more of these errors, it will prove difficult to get past. And, it will become an impediment to selling — not only quickly, but for less money. To sidestep those pitfalls, you need to avoid the four biggest home selling mistakes:

  1. Pricing based on improvements. Okay, so you’ve sunk a tremendous amount of time into improving the house and landscaping. Which also means you’ve spent a considerable amount of money, to boot. Although these will contribute to marketing your home, don’t necessarily count on each one to fetch a healthy ROI. In fact, some won’t return anything or very little.
  2. Pricing below actual market value. Some sellers who are in a pinch gamble with this strategy. What makes it a gamble is that’s precisely what it is in reality. If you price a house below market value, people will definitely wonder why. They’ll probably think there’s something wrong and simply pass it up, altogether.
  3. Turning down the first reasonable offer. It’s very common for sellers to receive offers lower than the asking price. In fact, it’s probably what you would do if you were the buyer. Some are too low, but others can be reasonable and more in-line with the actual market value. The thinking is the interested party will submit another, higher offer. Instead, it’s best to counteroffer and then gauge the response.
  4. Trying to sell your house all by yourself. Make no mistake about it, selling a home is a fulltime job. And, it requires experience and insight to make the right moves at the right times. This is why it’s so important to have a local pro on your side.

If you are considering selling a house in Orlando’s Hunter’s Creek, or another community, contact us for the latest market information. We are local and experienced in all facets of residential real estate, here to help you, when you need it.