Selling your home is a major life decision. After all, it’s not easy letting go of the house you’ve probably lived in your whole life. Aside from the emotional turmoil, there are also a lot of things to consider. You have to think about making repairs, preparing and listing your home, finding a buyer, and navigating the closing process. Mistakes in the selling process can cost you big time.
In this article, we’ll discuss the most common mistakes home sellers make and how an Atlanta GA real estate agency can help you avoid them.
7 Common Mistakes Home Sellers Make
When selling your home, it is important to keep your finances and peace of mind intact. Finding the right Atlanta GA real estate agency can help you avoid these mistakes when selling your home.
Mistake #1: Not working with a real estate agent
Listing your home for sale by owner (FSBO) instead of hiring a real estate agent may save you on commissions but this will only work if you know what you’re doing. You could also potentially end up spending more on marketing than you would with an agent.
Plus, experienced Georgia real estate agents, like the ones from timstoutteam.com, know the buying and selling process better than you. They can help you avoid costly mistakes and land you better offers.
Take note that not all real estate agents have the same values and principles. It’s important to find someone well-versed in the real estate property market in your area. Local realty companies in Georgia are in a better position to help you find the best deal, even if there are bigger agencies in other states.
Mistake #2: Setting up an unrealistic price
Setting the right asking price is key to selling your home. Nobody wants to buy an overpriced house, even if it’s nice and newly renovated. In a survey conducted by HomeLight.com, 70% of real estate agents agree that overpricing is the most common mistake sellers make.
Underpricing is a strategy often used by realtors to generate interest in your listing, which helps bid the price up. So don’t be afraid to set the price on the low side for now. You can always reject offers that are too low. Of course, if you’re going to do this, make sure you’re guided by a professional, so you don’t get taken advantage of.
Mistake #3: Only considering the highest offer
Getting an exceptionally high offer can be quite exciting, but the highest offer isn’t always the best offer. First, you have to check the contingencies or the conditions that must be met before closing a sale. Contingencies, such as an inspection contingency or financing contingency, help protect the buyer’s interests.
Be aware of any contingencies your buyer may have. Take note that receiving a high offer that’s contingent on the buyer selling their existing home can potentially affect the timeline and certainty of the sale. In this instance, it might be better to choose a slightly lower offer but without that contingency.
Mistake #4: Making costly renovation or neglecting necessary repairs
Neglecting maintenance issues can turn buyers off. It might even decrease the value of your property. Buyers expect that your home is in tip-top shape the minute it gets listed. But the cost of a complete renovation is so high that the purchase price may not be enough to cover all your expenses. Plus, some buyers would like to do their own renovations to personalize the space.
So instead of going all out on your renovations, it would be better to focus on the most glaring issues, such as the ones most likely to turn up during a home inspection. Being strategic can help you save money. The professionals at an Atlanta GA real estate agency can help determine which items need immediate fixing, such as the ones in poor conditions or can affect the property’s structure, safety, and functionality.
Mistake #5: Cutting back on staging
Staging your home is an important part of selling your home. Unfortunately, not many sellers do this properly. They either neglect or skimp on this. But doing so can affect the price of your property. Staging a home has a big impact on it selling faster.
Additionally, many agents report that well-staged homes get 1-5% (or as much as 6-10%) more dollar amount in offers. That means getting an extra $2,000 to $20,000 in a staged $200,000 home. Rent decorations and furniture from a staging company if you must, but whatever you do, don’t show an empty house to your potential buyers.
Mistake #6: Not taking professional-quality photos
When you want to buy something, you’re most likely to check the item online first before making your final purchase decision. If the item is poorly photographed, would you still buy it? The same is true when buying a house.
Buyers do a lot of research online before even deciding to visit a property for sale. Poor quality photos can turn off buyers. So, it’s vital that you fill your online listing with professional-quality images to attract as many potential buyers as possible. Your realtor can help recommend a good home photographer to you if you don’t know one.
Mistake #7: Not decluttering
Clutter, such as personal effects, can obstruct a potential buyer’s ability to view themselves living in your property. This can significantly affect their capacity to look at your house with an open mind. Seeing a bunch of mail on the entry table and your family photos on the fridge will make them feel like they’re only visiting and not viewing a home for sale. All your personal items can also make your home seem smaller and cramped.
Remember, selling a property isn’t just about proper pricing and marketing. Psychology also plays a major role. Make sure to depersonalize your home. Clear out your clutter, even if you’re still living in it. This will help buyers see the property’s potential future, not its past.
Sell Your Home the Smart Way
There are many mistakes to avoid and things to consider when selling your home. Working with an experienced real estate agent can simplify the whole process. Their experience and knowledge put them in a better position to prepare your home and negotiate on your behalf, making your property sell faster. Whether you’re selling or buying a home, working with a realtor and checking out a legitimate Georgia real estate agent lookup website can help you find the best deals.
Check out our other blog posts to get unique real estate market insights.