Mistakes to Avoid When Selling Your House
Are you thinking of selling your home? If so, you want to avoid the most common home seller mistakes.
You want to avoid common errors while selling your home with so much at stake.
Home-selling mistakes are elementary when you let emotions get in the way of sound judgment.
You naturally hope to make as much money as possible from your sale—and not only make money but enjoy a relatively smooth sales process that gives you the results you are looking for.
Luckily, plenty of people have walked this road before you. The worst house-selling mistakes are ones you can avoid with a bit of foresight and planning.
Read on to learn the home selling problems you want to avoid.
1. Pricing The Home Incorrectly
The number one home seller mistake is overpricing. Nothing stops home sales more than the wrong price.
You may love your home and see it as one of the best.
You might have a lot of good memories of your home, memories that leave you feeling like there is so much to appreciate about the property.
But it is important to remember that no matter how you feel about your home, the market is still the deciding factor in how much you can get for it.
House pricing needs to be done according to the market. Failing to do so could leave you with a listing that sits for months or longer.
Look at a Comparative Market Analysis Through The buyer’s Eyes.
When pricing a home, it is essential to take the emotion out of it. Selling your home should be a business decision based on facts.
Your listing agent should prepare a comparative market analysis of comparable homes. It is critical to look at the research through the eyes of a buyer.
The buyer’s agent will likely share this data with their clients. Fooling anyone today isn’t going to happen.
It is far better to price your home competitively than to try and get every last dollar from the sale. A competitive price will attract buyers.
An amount that is too high will drive them away. Any real estate professional you talk to will tell you that pricing a home too high is the kiss of death.
If you come out of the gate at the wrong price, you’ll almost always sell for less than if you priced correctly from day one.
Understanding how to price a home is vital to your success. Don’t follow one of the home pricing myths. You’ll surely be disappointed.
2. Failing to Prepare The Home For Sale
While some sellers think the world of their homes, others are only willing to do the bare minimum to complete a sale. The bare minimum—putting up a listing and wishing for the best—will not get you great results.
Instead, you should put forth your best effort to present an attractive, desirable piece of real estate. First impression matters, and a great image requires a clean, well-maintained home.
Staging a home is essential to your success. You don’t need a professional stager, but you need the effort to make it look exceptional.
The first thing you can do, which will help tremendously, is decluttering. A clean slate makes it much more straightforward for buyers to picture themselves in your home.
Hire a Junk Removal Company
Consider hiring one of the best junk removal companies to eliminate anything of low value.
From thirty-seven years of selling real estate, one of my favorite junk removal companies is 1-800-Got-Junk. They have an excellent reputation and are located all over the U.S.
Donate Other Belongings to a Charity
Once all of the junk is removed from your home, consider donating. Some donation centers will pick up your things, or you can visit them. It is a great way to eliminate unwanted items while helping needy families.
You can consider donating your furniture for some of your oversized items. It’s the same premise. Make your home more presentable by making your rooms free of unnecessary furnishings.
Put Your Items in a Storage Facility
If necessary, you can put most of your remaining furniture into storage. Look for a storage facility near you. Your real estate agent should be able to guide what to leave at the house.
Lastly, hire a cleaning company to give the home a deep clean, or do it yourself. Strive to put your best foot forward, and you will enjoy better sales results.
Having a checklist for getting ready to sell can be valuable.
3. Selling a House in Poor Condition
One common home seller mistake is selling as-is without effort to make improvements of any kind. You lose a lot of money selling a house as-is. If there are obvious issues that need to be fixed, fix them.
Many potential clients will ask what fixes to make before selling. Some things you can do offer a high return on investment. Consulting with your real estate agent can help determine what makes the most sense.
If unsure of your home’s condition, you may consider a pre-sale home inspection. By having an examination done, you can learn about the current state of your property. You can fix any blatant issues that could cause the sale to fall through.
Being ready for a buyer’s inspection will ensure such a significant step in the home sale process happens without a hitch.
3. Not Hiring a Skilled Real Estate Agent
There are more tools than ever available for the motivated homeowner who wants to sell their home. The attraction of FSBO is obvious—you don’t have to pay a Realtor’s commission, which means you keep more money from the sale.
Selling a house as a for sale by owner, however, is not easy. A significant percentage of for sale by owners fail and end up listing with an agent.
The last reported statistics show that sales by owners end up not completing a transaction about ninety percent of the time.
Selling ten percent of the time is a poor success rate. In 2021, the National Association of Realtors reported that ten percent of all homes were sold for sale by the owner.
The drawbacks to this approach are often not that blatantly obvious. It takes a ton of hard work to sell a home for an excellent price and lots of your time.
Do you have the energy and the time available to do things right?
Even if you have all the time in the world, do you have a robust network to market the home? A reputable agent will be able to get the word out quickly and thoroughly and will be able to ensure a relatively seamless sales process.
For sale by owners do not have the marketing channels at their disposal that a real estate agent does. Your home will not appear on the websites buyers view homes online.
If your area is experiencing a seller’s market, you can kiss any chance of having a bidding war when selling as a FSBO.
4. Hiring The Wrong Real Estate Agent
Hiring the wrong real estate agent is a big home seller mistake.
An incorrect price for a home often goes hand in hand with picking a lousy real estate agent. Sorry but it’s true.
Pricing a home is a skill and an art. Something that many real estate agents don’t do well. You either have this skill, or you don’t.
Another problem is that some real estate agents also offer little marketing skills.
As someone in this business for the past thirty-seven years, I have first-hand experience seeing exceptional agents to the bottom of the barrel.
Not all Realtors are suitable to sell your home. Some real agents are not very good at what they do. Some agents are more suited to work with buyers.
Others are not experienced in modern marketing technologies. Still, others specialize in areas of real estate that may not match your target market.
It is a common problem for home sellers to pick the first agent they come across—especially if they already know someone with a real estate license.
Instead of going for the low-hanging fruit, seek the right agent for your needs.
Interview potential real estate agents, ask plenty of questions, get referrals, and take your time. Picking an agent is a critical exercise.
5. Not Paying Attention to Photography and Property Descriptions
When your home is listed in the MLS, first impressions matter! Your first showings are online, not when a buyer physically walks through your home.
Few things are more important than having exceptional professional photography and a creative listing description. These two things will influence how many showings you get.
Make sure you pay attention to what your agent is doing. If something needs an adjustment, move swiftly to make it happen.
6. Letting Your Real Estate Agent Practice Dual Agency
A significant home seller mistake is not understanding the ramifications of allowing your real estate agent to practice dual agency. If you are unfamiliar with the term, dual agency is when YOUR real estate agent represents both the buyer and seller in the transaction.
To be clear, it is impossible for a real estate agent to “represent” both. You can’t serve two masters in the same deal. You want to sell your home for the most money. The buyer wants to do just the opposite.
When you allow dual agency, your agent becomes a neutral party. They no longer represent you anymore. Please do yourself a favor and read the article referencing dual agency and why it is so bad for sellers.
It is a type of agency you want to avoid.
Many states have banned dual agency relationships because it is terrible for consumers. The only party that benefits is the real estate agent.
7. Thinking That Open Houses Are Important
Let me let you in on one of the dirty little secrets of real estate – open houses benefit agents, NOT sellers.
Don’t let a real estate agent make you think open houses work. Any serious buyer will schedule a showing for a home they want to view.
Buyers accompanied by real estate agents are almost always vetted financially.
It’s just the opposite with an open house. Many warm bodies visiting an open house will have no business being there.
Here is what you get when you have an open house:
- Those who are not financially qualified to purchase your home.
- Having your neighbors attending who have nothing better to do than be nosy.
- The Sunday tire kicker has nothing better to do than look for open-house signs.
- Experiencing the worst possible scenario – someone who will come to steal your property. Yes, open houses are a magnet for crime.
Open houses were a viable marketing activity years before the internet when nobody knew your home was for sale.
Everyone knows today, and they will schedule a showing when they want to look.
8. Selling Before You Are Ready To Do So
Even when everything goes well, including having a great agent and selling for a reasonable price, it is still hard work. It takes time and energy. It involves stress. It requires finding a new place to live, whether renting or buying.
It means packing up and moving all your stuff. There is a lot to the process. If you are not prepared for a significant life change, then selling your home may be something you should wait on.
Do your research and be clear about your challenges before you leap.
If you can wait until the prime selling season in your local market, that’s what you should do to maximize the value. Find a real estate agent that will explain when it’s the best time to sell.
Don’t work with the agent whose answer is tomorrow is always the best time to sell. That’s the hallmark of an agent who thinks about what’s best for them.
9. Not Telling The Truth About Your Home
Homes are made up of a lot of different components. Some of these components are going to fail over time. It can be tempting to divert attention from problem areas of your home to make your sale go easier.
In the pressure of the actual sales process, it can even be tempting to lie to make the sale and get it over with. But failing to be honest with buyers has a considerable chance of backfiring on you.
It could kill your sale. It could lead to a lawsuit. Proper real estate disclosures are super important when selling a house.
In the end, dishonesty is not worth it. Most states have laws about disclosure that you need to know and follow to the letter.
You don’t necessarily have to tell buyers every little problem with the home. But if they ask about something, you need to tell the truth.
10. Failing to Get Building Permits Can Be a Significant Mistake
One of the more common problems areas when selling a home is the lack of permits when they are required. If you didn’t get the necessary permits for work completed at your property, it is highly advisable not to lie about it.
Doing so is asking for a lawsuit. Selling with unpermitted work could cost you money.
11. Not Being Flexible With Showings
I will be very clear about this – a missed showing is a missed opportunity.
One of the more common home-selling mistakes is not letting buyers in when they request a showing.
Sure, there are going to be times when showings are going to be difficult. You have a family and a life. Sometimes they get in the way.
If you want to sell your home, however, in the shortest amount of time for the most money, let the buyers come on their schedule!
The more restrictions you put on your showing schedule, the more challenging it will be to sell.
12. Making Your Real Estate Agent Accompany Showings
I’ll be brutally honest again – the listing agent should not be at the showings. The buyer and their agent are not going to want them there.
Many homeowners think a real estate agent can talk someone into buying a home.
Real Estate agents don’t sell houses in that sense of the word.
I’ve been selling homes for thirty-seven years, and not once did I talk someone into purchasing a house.
Buying a home is a substantial emotional purchase. The eventual buyer is either going to love your home or won’t. Almost always, the buyer will know it’s the one within minutes of walking around.
If you have hired a real estate agent with that much time to accompany showings, you’ve made a hiring mistake.
13. Hoping For Too Much, Too Quickly
Another problem home sellers encounter is expecting the sales process to go through quickly and painlessly. The reality is that with such a significant transaction—typically involving a buyer having to borrow hundreds of thousands of dollars—there are almost always hiccups.
Paperwork may not go through as quickly as you expect. Deals can fall through. Buyers can back out. Inspections can show something you were completely unaware of—something you must fix to get the sale.
It would be best if you prepared yourself for some frustrations.
As long as you are prepared, you can weather them. And who knows, you may sell your home fast, for good money, and with no hurdles.
It does happen. Just don’t assume it will happen to you. Be ready for everything because if it can happen in real estate, it just might.
14. Selling Your Home Contingent on Finding Another
Selling your house contingent on finding a replacement home is a significant blunder. Doing so will limit your buyer pool severely. It will likely take longer to sell. Selling for an optimal price will also be more challenging.
Read the reference to understand why this is such a significant house-selling mistake.
15. Not Being Flexible in Negotiations
It is common for buyers to try and negotiate better terms before they agree to purchase. The conditions may or may not involve taking less money for the house than you wanted to. Try to listen to your agent during negotiations.
They can tell you the difference between a good deal and a bad one. If the agent thinks the deal is right, seriously consider it.
16. Not Understanding The Costs to Sell a Home
One of the biggest financial home seller mistakes is not understanding the costs of selling homes. It is vital to comprehend seller closing costs. While the commission will be a standard expense, there could be others that are not.
The costs to sell a home in Massachusetts could be different than in other locations.
Quite often, homeowners will forget some expenses in the selling process. Something is often missed when calculating what they will come away with from the sale.
The above-referenced articles give all the costs and expenses for selling your property.
17. Not Firing Your Real Estate Agent
Sometimes the cold hard reality of your mistake must be addressed. If your real estate agent is the problem, you need to attempt to move on.
Firing a real estate agent is not easy. You’re likely to face resistance. The best advice is to speak to the real estate broker if you don’t get anywhere with your agent.
If you can’t work things out, you’ll need to wait until your listing expires.
Why is My House Not Selling in a Hot Market?
If your home is not selling in a robust seller’s market, you are likely making one of these home seller mistakes. All of these things will stop a house from selling.
You should worry about your house not selling when everyone else is having success.
The key is to make adjustments.
Final Thoughts on Home Seller Mistakes
When you are thinking of selling your home, proper planning and knowledge are crucial.
Selling a house isn’t always easy, and mistakes are often made, especially if you are a first-time home seller. People learn from experience.
Following the advice provided here will put you in a position to have a smooth sale. If you are in the Metrowest, Massachusetts area and will be selling, feel free to reach out.
I would welcome the opportunity to earn your business.
Additional Home Selling References Worth Reading
- The importance of septic system inspections – see why having a septic system inspected when selling or buying a home is vital via Joe Boylan.
- Understanding VA mortgage property condition for sellers – homeowners need to know what type of shape a property needs to be in for a VA mortgage loan approval via Luke Skar.
Use these exceptional resources to learn about what it takes for your real estate transaction to go smoothly.
About the Author: The above Real Estate information on thinking of selling your home: avoiding home seller mistakes was provided by Bill Gassett, a Nationally recognized leader in his field. Bill can be reached via email at billgassett@remaxexec.com or by phone at 508-625-0191. Bill has helped people move in and out of many Metrowest towns for the last 37+ years.
Are you thinking of selling your home? I am passionate about real estate and love sharing my marketing expertise!
I service Real Estate sales in the following Metrowest MA towns: Ashland, Bellingham, Douglas, Framingham, Franklin, Grafton, Holliston, Hopkinton, Hopedale, Medway, Mendon, Milford, Millbury, Millville, Natick, Northborough, Northbridge, Shrewsbury, Southborough, Sutton, Wayland, Westborough, Whitinsville, Worcester, Upton, and Uxbridge MA.
