There is a lot of competition in the housing market today. Foreclosures are flooding the market with cheap homes making it more difficult to sell your home. In order to sell your home, you must work harder and work smarter than the average homeowner to sell their home. Therefore, homeowners should take heed to the three biggest mistakes that homeowners make when selling their home and avoid making these costly mistakes when marketing their home for sale.
Not making repairs or updates
Trying to sell your home without cleaning it first is a mistake many homeowners make. Simple things like cleaning out closets and picking up the kids’ toys are things that you should do before you even hire a realtor. Simple repairs like fixing holes in walls and adding a new coat of paint are inexpensive and go a long way into making your home appeal to potential buyers. Updating faucets and replacing old light switch plates are other ways of updating your home. Failing to make more serious repairs such as fixing leaky pipes, replacing faulty wiring and repairing damaged flooring will cause buyers to run from your home right to the next seller who took the time to make the repairs and update their home before listing it on the market.
Overpricing your home
This is a common mistake many homeowners make when selling their home. Our homes are priceless in our eyes; however, in the eyes of a potential buyer, who does not pay for sentimental value, they are not. A realtor can help you decide what a fair market value is for your home and what the market will bear; however, if you are uncertain you can always retain the services of an experienced real estate appraiser. You can be sure that any potential buyer will probably get their own appraisal so it is good to know in advance what the appraisal will state about your home’s worth compared to others in your area.
Failing to market the home properly
Unless a homeowner has experience selling real estate, the likelihood of the property being marketed properly is low. Today’s real estate market is highly competitive. Technology has become the number one asset when marketing real estate. Failure to hire an experienced realtor can result in a home remaining on the market for longer than necessary. An experienced realtor knows how to market the property so that it will sell quickly for a fair price. Homeowners should consult several realtors before choosing the one that they feel will do the best job for them.