With the price of real estate property going up year after year, a lot of homeowners are getting excited about selling their homes for a truckload of profits. You can sell your current home for a profit and buy a better one in a far better locality. Everyone wins! However, there are a few mistakes that you might want to avoid when selling your home.
Here are the 6 horrible mistakes you’re making when selling your home
1) Trying to your home without research
It another thing to hire a real estate agent to sell your house but to sell it yourself requires a lot of research and understanding about the market. If you have already listed your home “for sale by owner” on one of the real estate websites, you need to stop and research the market first.
2) Hiring a sleazy and cheap realtor
Not every realtor asks for a fat commission. I am sure there are plenty of sleazy real estate agents who are willing to work for less. Anytime someone is willing to take a pay cut, there is a likelihood of that person being a pretender or just a lazy person. So, make sure you do not make this mistake while hiring a realtor to help you sell your house.
3) Not knowing the average home value in your area
According to a trustworthy real estate website Zillow, since the year 2018, average home prices in the US are on the rise. They have gone up by a staggering 4.7% since last year. Moreover, they have also calculated the median home value in the United States which is $231,700. To check the average price of a house in your city/neighborhood, click here.
4) Selling out of desperation
A home is more than just a financial asset. It is a safe space for yourself and your family. But sometimes, due to financial hardships, people are forced to sell it at a low price. If you ever find yourself in this situation, step back and think about the overall losses. By selling your house for a low price you are callously throwing away your hard-earned money.
5) Not managing your expectations
Just like selling your house for a low price is a huge mistake, asking too much money can also be a detriment in the process of selling it. Your realtor knows the right price for your home. It is good to ask them to get you maximum profits but make sure you are being fair to him/her and the potential buyer.
6) Misleading a buyer
Are you one of those people who post fake or heavily edited images of your home on real estate websites like Zillow and Redfin or Homesnap. If yes, then you need to stop misleading a buyer. By doing this, you might have a lot of inquiries from potential buyers but they are are going to get turned off the moment they step into your home.
Selling your home can seem like a great idea initially. But when done in the wrong way can lead to huge financial losses. There are few mistakes that every first time home seller is prone to make. This post is all about making you aware of those silly but costly mistakes.