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Home Buying & Selling

3 Mistakes Home Sellers Make

2 Minute Read

So far this year, many real estate markets have jumped into action. With low inventory and plenty of motivated buyers, it’s becoming a stronger seller’s market every day.

But that doesn’t mean a home seller can’t make a mistake that could derail their home sale, costing them both time and money. If you’re selling your home, make sure you avoid these three mistakes when you put your home on the market:

Too Much Price Tag

The number-one mistake home sellers make is overpricing their home. Many want to sell their home for enough to pay off their mortgage and have a nice down payment for their next home. But your home is worth only what someone is willing to pay for it.

Don’t discourage potential buyers with an unrealistic asking price. Ask a real estate agent for a comparative market analysis that will show you how much homes like yours in your area are selling for.

Taking a Low Offer Personally

The other side of that coin is home sellers’ tendency to take offense to a low offer. Remember, a buyer’s offer is not a reflection of their opinion of your home or your housekeeping abilities. They like your home, or they wouldn’t make an offer, right?

The sale of your home is a business transaction, and even if you’re starting with a low offer, now’s the time to negotiate. Make your counteroffer, and if they’re truly interested, the potential buyer will improve their offer.

Skimp on Advice to Save on the Sale

When the housing market is hot, many sellers think they’ll have no problem selling their homes on their own. So they try to “save money” by not paying an agent a commission to help them sell their home.

But last year, the typical for-sale-by-owner (FSBO) home sold for $174,900, while the average agent-assisted home sold for $215,000. FSBO home sellers also found handling the paperwork for a home sale and pricing their home the most difficult tasks they had to handle.

Get It Sold With a Real Estate Pro

Even in a seller’s market, an experienced real estate agent is invaluable when it comes to handling paperwork, pricing your home, and, most importantly, selling your home at the best price. Contact one of Dave’s real estate Endorsed Local Providers (ELPs) for professional advice you can trust. Find your ELP today!

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