Selling your house can prove to be more challenging than you thought it would be. If your goal is to complete a quick and profitable transaction, you must be properly prepared to go through the selling process. This involves knowing which mistakes to avoid before listing your home on the market.
According to the real estate agents at Lawrence Realty in Red Wing, MN, making the following errors has the potential to keep you from getting top dollar for your property.
5 Errors to Avoid When Selling Your House
1. Setting the Wrong Price
The most frequent mistake sellers make is putting the wrong price tag on their home. You must be wary of both asking too much and not enough. A high amount could scare away prospective buyers, causing your property to sit on the market longer than it should. However, underpricing will prevent you from closing a deal you feel good about. It’s crucial to know the accurate market value of your home and compare it with sales of neighboring properties before deciding on an asking price.
2. Not Preparing the Property for Viewing
Selling your house will require a great deal of preparation. It’s vital to make sure the interior and exterior are ready for viewing by highlighting all the best features of the property, removing clutter, focusing on curb appeal, and fixing any major aesthetic problems. While you don’t necessarily have to start large renovation projects, you should spruce up your home in areas that could use it.
3. Hiring the Wrong Real Estate Agent
Before you hire a real estate agent, it’s important to realize they are not all the same. The agent you work with should have a solid track record of assisting clients with successful home sales and know the local market well. They must possess good negotiating skills and be able to present you with effective marketing strategies to get your home in front of as many buyers as possible and make it stand out from other real estate listings.
4. Failing to Disclose the True Condition of the Home
Failing to disclose the true condition of your home in an attempt to get more money or sell faster is one of the biggest errors you can make, and it’s often illegal. There’s a good chance a buyer will discover any issues the property has through a home inspection anyway, and not telling them about it beforehand will make them leery about continuing with the deal.
5. Letting Emotions Get in the Way
Despite selling and moving on to a new life chapter, it’s likely you have many great memories of the time spent in your home. This emotional attachment can make it difficult to work with buyers during negotiations. It’s best to find a way to detach and recognize the sale as a business transaction. Getting offended by low offers and refusing to negotiate on the price will only drag the process out longer.
Avoiding these common errors will make selling your house a smooth and stress-free experience. Contact Lawrence Realty at (651) 388-4745 or visit them online to learn how they can help you reach your selling goals.