8 Common Home Selling Mistakes and How to Avoid Them

The number of homes for sale increased by nearly 60% year-over-year. If you plan on selling your home, you need to have a strategy in place. Otherwise, your home could remain on the market for longer than expected.

When crafting your home selling strategy, make sure to avoid these common home selling mistakes. Otherwise, you might get less than expected for your home.

Start attracting potential home buyers with these tips today.

1. Not Hiring an Agent

One of the biggest mistakes you can make when selling your home is neglecting to hire a real estate agent. An experienced agent will help you avoid most of the common mistakes mentioned below. You can leverage their experience and expertise with the local market to develop your home selling strategy.

Only 10% of home sales in 2022 were for sale by owner (FSBO) sales. In these instances, 50% of sellers knew the buyer. FSBOs typically sell for less than the selling price of comparable properties.

If you're not selling to a friend or family member, you need to hire a real estate agent. Otherwise, you could leave money on the table. In fact, the median price of FSBO homes was $225,000, while the median with agent assistance was $345,000.

Look for an agent with years of experience listing properties in Riverside and San Diego County. Their understanding of the area can benefit your home selling strategy.

For example, these agents will know how to entice potential home buyers. They'll also know how to set fair home prices.

Their access to the multiple listing service (MLS) will help potential buyers find your listing.

A good agent will have your best interests in mind. They can increase the odds of a quick sale at a competitive selling price. They can also help you avoid making emotional mistakes that could impede your progress.

With their help, you can ensure the entire process goes smoothly. They can help you avoid legal ramifications or delays. Having an experienced agent on your side can give you peace of mind.

2. Neglecting Costs

Your real estate agent can help you get a better understanding of the closing costs you'll need to factor into the profit of selling your home.

Closing costs could reach as high as 10% of the sale price. The closing costs include the:

  • Escrow fees
  • Prorated property taxes
  • HOA fees
  • Attorneys fees
  • Commissions
  • Transfer tax
  • Advertising costs
  • Title insurance

If you're unfamiliar with the process of selling a home, talk to an agent. They'll help calculate these costs for you.

3. Pricing Too High or Low

Without help from an experienced real estate agent, you could set an unrealistic asking price.

An experienced agent will understand the local market. They'll know how to price your home based on the pricing of similar listings in the area. Your agent will complete a comparative market analysis on your behalf to determine a competitive price.

If you set your asking price too high, you'll scare away potential buyers. If you set it too low, you'll unintentionally leave money on the table.

If you've already listed your home and you're not attracting buyers, you might want to consider your pricing strategy. Consider when you're trying to sell, too. Winter months are usually slower, since people are busy with social engagements.

Your agent can help you post your listing at the right time to ensure you attract potential home buyers.

4. Not Staging

Take time to prep and stage your home before taking photos or scheduling tours. Make sure your home looks its best to appeal to buyers.

When cleaning, make sure to:

  • Vacuum, sweep, and mop
  • Organize closets
  • Put away laundry
  • Clean bathrooms
  • Eliminate odors
  • Polish countertops

Try to depersonalize your living space to help buyers imagine themselves in the home. Declutter as much as possible by renting a storage unit for your belongings. Remove as much from your home as possible before you start staging.

Removing personal items will make it easier for you to paint and make other updates before listing the property.

5. Hiding Issues

Don't try to hide any major issues throughout the property. Potential buyers will recognize these issues during an inspection. Either:

  • Fix the problem
  • Price the property below market value
  • Offer the buyer a credit to fix the problem

If you don't fix the problem before listing the property, you could scare away potential buyers.

Many states also have disclosure rules that require sellers to list known problems.

6. Taking It Personally

Don't let emotions interfere with your home selling strategy.

For example, you might take negotiations personally. Try to remain realistic. Home inspections might uncover a few issues, leading you to make repairs.

You may fail to accommodate showing requests due to your busy schedule. Coordinate with your agent or provide a lockbox for the buyer's agent to complete tours on your behalf.

Otherwise, making emotionally-powered decisions could keep you from making a sale.

7. Neglecting Curb Appeal

When preparing your home for listing, don't forget to upgrade the curb appeal. The exterior of your home is the first thing people will see. Take time to:

  • Clear pathways
  • Mow the lawn
  • Paint the exterior
  • Plant flowers
  • Complete seasonal maintenance

You can hire a landscaping company to prepare your lawn before taking photos of the property.

8. Not Hiring a Photographer

Before listing the property, hire a professional photographer to take high-quality photos of your home. High-quality photos can attract more buyers to the listing. Otherwise, they might not bother to schedule an in-person tour.

High-quality photos will ensure your home makes the strongest first impression possible.

Avoid These Home Selling Mistakes

These common home selling mistakes could cost you a potential sale. Instead, consider working with a real estate agent. They can help you avoid mistakes while attracting potential buyers to your listing.

Get ready to sell your home today!

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