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Mistakes to Avoid with a Private Home for Sale

13 May

 

Mistakes to Avoid with a Private Home for Sale 

With a private home for sale, homeowners can make many mistakes. Though, if you have the confidence, knowledge, and the right tools to do so, you can save a significant amount of cash by avoiding agent fees and other additional costs. 

Especially if this is your first time selling your own home, you want to be aware of the potential mistakes that can occur and, in turn, make the process run as smoothly as possible. 

There’s no denying it. We know selling your home can become complicated and exhausting on your own. But getting familiar with the following mistakes to avoid will help in more ways than you know. 

1 | Letting Emotion Drive Your Decisions 

It’s all too easy to get emotional when parting ways with your home. Often, our homes become a big part of our lives, filled with cherished memories. It can be a challenge for homeowners to keep their emotions in check when making major decisions while selling a home. 

With a private home for sale, avoid this common mistake by thinking of yourself as a salesperson rather than a homeowner. Or in other words, look at the process from a financial perspective and put your emotions to the side. 

2 | Setting the Price Too High or Too Low 

In your eyes, your home is priceless. It’s full of sweet memories and personal touches you’ve made throughout the years. However, it is essential to avoid pricing your home purely at the value you believe it is worth. 

When a home is priced too high, potential buyers immediately turn away and move on to homes more decently priced. So, even if you strongly believe your home is worth the high listing price, it is not worth the missed opportunities and hassle of finding buyers who share the same perspective you do. Remember to do your research and perhaps get a second and third opinion. 

On the other hand, pricing your home too low can affect your selling process. If you are too desperate to sell your home, people can smell it from miles away. Educated potential buyers will see past the seemingly perfect deal and be turned off by the desperation to sell the home quickly. 

Whether you are leaning towards either end of the spectrum, it is worth the time and effort to do your research and appropriately price your private home for sale before listing. 

3 | Using Unprofessional Listing Photos 

A typical mistake independent sellers will make is skipping out on professional photographs of the home. For some, this step may simply sound like icing on the cake, making it an unnecessary part of selling your home. However, this is not the case. 

Serious buyers will be keeping an eye out for homes listed with professional photos. One benefit of quality photographs is a better viewing experience. When a potential buyer sifts through photos taken by the inexperienced homeowner, they aren’t always getting the best views. Plus, professional photography makes a private home for sale appear more professional. Looking unprofessional to potential buyers can cost you some good deals. 

4 | Hesitating to Negotiate 

If you feel you don’t have the confidence to negotiate, you may want to reconsider selling your home on your own. And experience comes in handy, too. Rarely will a home sell without any negotiation. So, be prepared and ready to go back and forth with a potential buyer. 

For instance, if you are offered a lower price than you desire, do not hesitate to counter with a higher price. Plus, you’ll need to be prepared for other negotiations beyond the value of your private home for sale. Some other factors that may be negotiated are the earnest money, the closing date, and home appliances. 

5 | Skipping a Home Assessment Before Selling 

Before listing your home, be sure to have it assessed and determine if anything needs to be fixed. Yes, you could potentially do this step on your own. Although, you’ll miss out on a professional’s opinion. Often, a professional assessment is worth your time and money to avoid significant issues when coming close to the sale. Buyers may hire a home inspector who will give you an extensive list of problems that need fixing before the sale is complete. So, it’s best to prepare for this possibility and have the home assessed well before listing. 

6 | Deciding Not to Stage your Home 

One of the most common mistakes to avoid with a private home for sale is not staging. Staging is an excellent way to showcase your home and all it offers. Keep in mind, even if they don’t know it themselves, buyers are looking for a lifestyle as well as a residence. So, speak to their needs by staging your home with trendy décor and up-to-date furniture. And to really sell a potential buyer on the lifestyle your home offers, take some time to consider what elements will compliment your home best. 

Plus, you can always hire professionals to stage your home. With their experience staging homes of various designs and locations, the experts can make your home come to life and sale-ready.  

CITED: Privateproperty.co.za, Investopedia.com 


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