Selling a home can be a stressful and time-consuming experience, especially for first-timers. Some parts of the process can even feel downright uncomfortable, as you’re essentially opening your home up to strangers who will snoop around, criticize a place that has become more than a simple piece of property for you, and then place a lowball offer to top it all off.
It’s a highly emotion-driven, complex transaction, so committing mistakes is understandable. But by simply taking time to research, you’ll be able to avoid many potential problems that typically come with selling a home.
In this page, we’ll take a closer look at some common problems to avoid when you’re putting your home on the market.
Setting an unrealistic asking price
Setting the right price is key when you’re selling a home. Think back to the time you purchased the home. Chances are, you or your real estate agent performed a comparative market analysis to determine a fair price. Buyers will do the same for your home as well, so being one step ahead of them will give you an advantage as a seller.
Depending on the market, you can even consider setting a price on the low side, which can generate multiple offers, resulting in a bidding war that can drive your home’s price beyond its actual value.
You won’t be living in your home much longer once you’ve made the decision to sell, so there’s no excuse to neglect necessary repairs.
In addition to helping your home generate more interest, performing repairs will also ensure that the sale won’t be derailed in the later stages of the process due to unexpected maintenance issues. So make sure to address any major issues with your home before it hits the market.
Forgoing a pre-listing inspection
If a prospective buyer hires an inspector who discovers underlying issues like pests, mold, or a damaged foundation, you’ll risk losing a potential sale.
Getting a pre-listing inspection will give you peace of mind, since it will reveal whether your home is in tip-top condition, or if there are problems you’ll need to solve before a buyer can even bring it up during the negotiation stage. In case there are issues, you have the option to fix it or inform buyers beforehand, and then make a concession by reducing your home’s price during the negotiation.
Using subpar quality photos for your listing
In today’s smartphone age, everyone can feel like a talented photographer. But even if some of your friends and relatives are often impressed by the photos you share, real estate photography is still something that’s best left to the professionals.
A real estate photographer will make sure to highlight your home’s best features, capturing images designed to generate buyer interest. Not only do they have the equipment required, but they understand the right angles, perspective, lighting, and other aspects in order to capture crisp, professional-quality photos that will give your listing an edge over the competition.