4 Home Seller Mistakes to Avoid in 2022
- If I price it a little higher, I can always come down. While technically true, know that you’re actually costing yourself more by taking this approach. A listing gets the most attention in the first 30 days. Overpricing your home leads to a series of price reductions — which leads not only to a loss of initial momentum but also creates doubt in buyers’ minds as to why the home has been on the market so long. Today’s savvy buyers know what fair market value is. Price your home right from the start, and you’ll have a listing so attractive that you may even cause a bidding war — earning you more money in the long run.
- I can make more by selling it on my own. While we certainly can appreciate wanting to save money, the truth is that the facts simply don’t support this mindset. According to stats gleaned by the National Association of REALTORS®, the typical FSBO home sells for $184,000, compared with $230,000 for agent-assisted home sales. Many consumers find that the time investment and lack of negotiating power leave them more frustrated than they ever imagined. Think of it this way: When your car needs repair, you take it to a professional. When you’re sick, you go to a professional. Even when your phone needs service, you take it to a professional. Shouldn’t one of your biggest assets get the same professional attention?
- I don’t have to fix anything; I’ll sell it as-is. The fact is, today’s buyers are looking for move-in ready homes, and they’re serious about subtracting potential repair costs from your bottom line. Those buyer-estimated costs are often far higher than what it would cost to have the repairs done beforehand. Little repairs left unchecked also raise questions about what big-ticket repairs may be required, leaving buyers uneasy about making an offer. You’ll undoubtedly save time, money and frustration by repairing issues before listing your home.
- I should get every dollar back from the improvements I’ve made. Unfortunately, what you deem as the perfect improvement may not work for the buyer. Over-improving your home in a market that simply won’t bear up to comparable homes might leave you significantly upside-down on your investment.
“These are just four common mistakes sellers make. To discuss more and/or determine whether selling is right for you, please call or text me today. I’d be happy to sit with you one-on-one to share the smartest strategies for getting your home sold for the most money in the least amount of time.