3 Mistakes That Can Cost You When Selling Your Home

Looking to sell your home?  Lets talk about a few things you should avoid doing.  No matter what kind of market you are in, these 3 things should be avoided, if you want to get the best offer for your home

Selling your home can be a daunting task, but it doesn't have to be.  Avoiding mistakes especially these 3 can increase your chances of selling your home quickly and for the best price.

Don't Price Too High:  Even though we are in a sellers market, where inventory is low, and homes here in Connecticut continue to go over asking, price matters.

Yes, houses continue to go 40,50, even $60,000 over asking, but if those homes were priced wrong, they would sit.  One home comes to mind, it was priced way too high and sat for over a year.

The home I am speaking of, recently sold, but was listed early in 2022.  It sold for $25,000 less than the current asking price.  So these things do happen, if you price wrong.

No matter the market, pricing high is one of the biggest mistakes a seller can make.  To avoid your home sitting on the market for months or even years, do your research!

If you don't want to or have time to, hire a Realtor to do it for you.  Instead of you going on Zillow, Trulia or any other platform and guesstimating a value, a Realtor gets their info direct from the source.

Don't Neglect Preparation:  So now you know, price matters, do you know what else matters?  First impressions!  If you want a quick sale at the best price, get your home ready.

Before you go on the market, make sure your house is in tip top shape.  This means decluttering, cleaning, and making any necessary repairs, that you know of.

Again here in CT, sellers have the upper hand, and in most cases buyers are purchasing "As Is" property, and doing inspections for their eyes only.  

With that said, you can still sell a nice home "As Is."  Do what you think you need to get your home ready for sale, and if you did all the right things, you will have success.

If you don't, your property will sit, unless it is priced to sell.  Don't know what to do, hire a good Realtor, and they will guide you in the right direction.

For maximum effect, you should stage your home to make it look its best.  This means removing personal belongings, arranging furniture in a way that makes the space look larger and more inviting.  You can't go wrong by adding fresh flowers and plants too.  

Don't Hire a Realtor:  The first two things I hinted using a Realtor to help, so of course I have not hiring a Realtor as number 3.  By not doing this you are hurting yourself in more ways than you think.

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While it's possible to sell your home without a Realtor, it's not advisable.  A good Realtor will have the experience and knowledge to sell your home quickly and for the best price.

They will be able to negotiate on your behalf and handle all the paperwork involved in the sale.  You're probably thinking, I can do that, all I really need is an attorney at the end.

It is true, no matter whether or not you use a Realtor, you always need an attorney or title company to close a deal.  However your potential buyers will rest easy knowing you are being represented by a person that is held to a hire standard than just the seller.

A Realtor has codes to follow that go above the laws of the country or the state.  They also act as middleman throughout the process of selling a home.  

They will be in contact with the buyer, or their agent, if they don't have one, you better believe they will be in contact with their mortgage lender, and attorney too.  Basically they could need to be in contact with anyone involved in the sale (appraisers, home inspectors, etc.)

They do all of this not to mention, if you hire a Realtor you automatically gain access to the number one source to sell your home.  The Multiple Listings Service or MLS!

I mentioned Zillow and Trulia above, where do you think they get their listings from?  The MLS listings get sent everywhere, if you're not on it, you are losing so much exposure.

Well I hope this post finds you well, and if you are thinking of selling, it helped with some don'ts.  If you need expert guidance from an experienced and knowledgeable Realtor, reach out to your hometown Realtor.  I will do my best to help!