Have you been thinking about selling your home lately?
See, buying a house is all fun and games until life happens.
Next thing you know, you want or need to sell your home fast, quick and in a hurry. Make no mistake, selling a home can be easy for some but a real challenge for others.
Keep reading below to learn about the 7 most deadly and costly mistakes most first-time home sellers make and what to do about it.
7 Mistakes To Avoid When Selling Your Home
1.Becoming Too Emotionally Attached
Look, I get it it. This could be your very first house, the house that your baby took their first steps in or the house that was willed to you from your Great Uncle Fred. Whatever the case may be, the sentimental value you place on your home means absolutely, positively squat to your potential buyers.
There is no room for emotional attachment in the Real Estate Market.
Your current market dictates how much and how fast your home will sell. The price of your home should never be based on your feelings or what you personally “think” it’s worth. If you want your house to sell fast, listen to the market not your heart.
2.Using Zillow or Trulia to Price Your Home
If I had a dollar for everytime I’ve worked with a client and heard ” Well, the Zestimate says my home is worth…blah, blah, blah” I’ll be filthy, stinking rich.
All jokes aside, there is a love/hate relationship between most Real Estate Agents and Zillow . Zillow pulls property data from several sources and even admits that the information could be inaccurate and outdated.
On top of that, Zillow is unable to account for any upgrades or renovations that you’ve made to your property, so according to their algorithm your home is just like all the others on your block.
If you want to know the market value of your home, always seek out a professional such as a Real Estate Appraiser or Agent.
For crying out loud, never ever use Zillow, Trulia or some other random internet site to price your home.
3.Comparing Your Home to Others on the Market
Your house is special and unique in it’s own way. So, when you hear that your neighbors down the street sold for X amount of dollars, try not to get too excited (or even discouraged!)
The Real Estate market is constantly changing due to seasonal or economical reactions. Whenever you decide to sell the market may be reacting slightly differently to the current inventory of homes and it is best not to take it personal.
Even if your home was identical to your neighbors, there are still some extenuating circumstances (most that are beyond your control!) that could affect the price of your home.
5.Making Unpopular Renovations
I’ll never forget a home I showed that had lime green and orange walls throughout the house. Yuck! It was hideous and the amount of days that it sat on the market made it even more evident.
If you want to sell your home fast, with the least amount of hassle it is best to avoid from making any renovations that could cause your potential buyers to turn around at the doorway.
Most buyers prefer homes that are move-in ready meaning they do not want more work to do upon moving in.
Before deciding to move, repaint your walls and replace your carpet using neutral colors. If your budget doesn’t permit for making these renovations just be prepared for a longer than usual time on market and adjust accordingly.
6.Deciding to Become a Landlord
I’ve seen Landlording go wrong so many times. Deciding to become a landlord for your property or offering seller financing to potential buyers can be extremely risky and cost you more than you’ll ever know. I never suggest managing your own properties and will always recommend that you outsource these services to a professional property management company.
7. Deciding to Sell Your House on Your Own
Everyone thinks selling a home is easy until something goes horribly wrong and next thing you know you’re headed to court (or jail!). Working with a licensed Real Estate Agent to sell your home is the best thing that you could ever do.
A Real Estate Agent is there to help manage the entire process from handling paperwork to negotiating contracts until you are handing over the keys. Skimping out on a Real Estate Agent just to save a small commission can be a huge risk and will likely incur a huge cost to you in the event that you are sued by the other parties involved in the transaction.
Save yourself the heartbreak and headache and just use a Real Estate Agent.
Selling a home shouldn’t be a hassle if you leave it up to the professionals to handle everything. If you are thinking or selling your home, hopefully you will not make these costly mistakes.
Have anything to add? We would love to hear from you! Comment below!
Alexandria VA Homes for Sale– Lisa Washington, Your Real Estate Consultant & Friend
I specialize in listing and selling Real Estate in Alexandria, Springfield, Lorton, Fairfax and Woodbridge, VA. I am dedicated to making sure you are the most informed and educated consumer in the Real Estate market. Ready to Buy or Sell? Give me a call or text at (202)999-8166