Looking to sell your house fast? Don’t make these mistakes
Thousands of homeowners make mistakes each year when selling their house that cost them valuable time and money. In fact, new research shows 43% of sellers end up making legal mistakes while 46% of sellers turn down an offer that later becomes their highest.
The good news?
By recognizing and avoiding these common home selling mistakes, you can sell your house in today’s market faster and at the highest price possible. Interested in how to sell your house fast for top dollar? These are the mistakes to avoid if you want a smooth transaction.
What we’ll cover:
- Pricing Problems That Kill Your Sale
- Marketing Mistakes That Cost You Buyers
- Presentation Errors That Turn Off Prospects
- Negotiation Blunders That Leave Money Behind
Setting the Wrong Price From Day One
Here’s the biggest mistake sellers make when pricing their home…
They overprice their home right out of the gate. While testing the market with a high asking price may sound appealing, it rarely works. The first week that a home is on the market is when you get the most traffic on your listing.
Price your home too high and you’ll miss that prime window.
Today’s homes are taking an average of 61 days to sell on the market, up from just 25 days in 2020. The longer a home sits on the market, the more buyers will assume there is something wrong with it.
Work with someone who knows your local market well and has access to data on recent comparable home sales. Your pricing strategy should be competitive from day one, resulting in the most showing requests, quickest offers and often a higher overall sale price.
Skipping Professional Photography and Marketing
Let me let you in on a little secret that most homeowners don’t realize…
Bad photos are killing your chances to sell before your first buyer sets foot in your home. In today’s market, homes with professional photos sell 32% faster than those with amateur snaps. Homes that invest in aerial drone shots in their listings sell 68% faster.
Listings that include video tours get up to 4x more inquiries than those without.
In this digital age, most home buyers begin their search online. Your listing has to stand out. Dark, blurry photos taken with a smartphone no longer cut it. You need quality visuals and video that make your home shine.
Invest in professional real estate photography that showcases your home’s best features. Consider hiring a videographer to produce a video walkthrough or even a 3D tour.
Neglecting Curb Appeal and Home Presentation
Here’s a stat I think every seller should know…
The outside of your home is the first thing buyers see, but yet most sellers spend zero time on exterior curb appeal. From the street to the front door and inside your home, your property must look move-in ready.
Buyers want to see themselves living in your home, not you.
Focus on these presentation strategies:
- Power wash the exterior of your home and driveway
- Mow, edge and mulch all your landscaping
- Add some colorful flowers in planters near the entrance
- Repaint rooms with outdated or bold colors
- Remove all family photos and personal collections
- Deep clean the entire house including baseboards and windows
These small upgrades will make your home more appealing to a wider group of potential buyers, increasing your chance of a speedy and profitable sale.
Trying to Sell Without Professional Help
Did you know this shocking statistic?
Only 6% of sellers go the For Sale By Owner route and with good reason. Let’s look at the math. The average FSBO home sale price was $380,000, while agent-assisted sales closed at $435,000 on average.
That’s a $55,000 difference.
Even worse, 80% of FSBO sellers end up regretting their decision. They wish they had more offers, avoided legal mistakes, or had someone to help them through the stress of the process.
Your agent brings expertise you can’t replicate on your own. They know the current market conditions, pricing, handle complex paperwork, negotiate with buyers, and work with other agents to market your home widely.
Making your Home Hard to Show
A mistake that costs you qualified buyers every time…
Making it inconvenient for showings will kill your chances of selling quickly. The reality of selling is that you must be a little flexible and open to some minor inconveniences. Buyers are looking at multiple homes a day and if yours isn’t available when they’re searching, you lose.
The more people that can physically walk through your home, the higher your chances of connecting with the right buyer. Consider having your agent install a lockbox and showing homes without your presence if you work full time.
Ignoring Small Repairs and Maintenance Issues
Guess what kills buyer confidence fast?
Visible maintenance issues. When buyers tour a home and see a leaky faucet, cracked tile, or peeling paint, they wonder what else you’ve neglected. These small problems create major doubts in buyers’ minds about the rest of the home.
Handle these small repairs before listing:
- Dripping faucets and running toilets
- Scuffed walls or dirty walls
- Burnt out lightbulbs
- Squeaky doors and loose door handles
- Cracked caulking around bathtubs and sinks
- Broken window screens or glass
You don’t need to remodel your kitchen or finish your basement to prepare for listing. But addressing small maintenance issues shows buyers you’ve taken care of the home and cared for the property.
Getting Emotional About Offers and Negotiations
Here’s where a lot of deals fall apart fast…
Emotional offers and counteroffers. Selling your home is an emotional experience. You’ve made a lifetime of memories in your house. But buyers don’t care about your memories or your feelings. They care about getting a fair price on a home that suits their needs.
When an offer comes in below your asking price, it’s not personal. It’s the start of a negotiation. Buyers today have a lot of power, especially in slower markets. You must stay objective and focused on the numbers and your end goal.
How low will you go? How fast do you need to sell? What terms are most important to you? Staying logical and objective about offers and counteroffers will help you.
Overlooking Closing Costs and Timing
Something most people don’t realize until the last minute…
The total cost of selling your home isn’t just your agent’s commission. Closing costs can pile up quickly and some sellers are unprepared. You may need to pay for title insurance, transfer taxes, attorney fees, and more depending on your market.
Buyers sometimes also request sellers pay for part of their closing costs or offer credits for repairs during the inspection process. If you are unaware of the possibility, those costs can significantly reduce your total profits.
Ask your agent for a full breakdown of what you will pay when closing the sale. Factor in your remaining mortgage balance and estimated closing costs to know your real bottom line.
Wrapping This Up
Don’t leave money on the table. By recognizing these common home selling mistakes and avoiding them, you’re setting yourself up for the best possible outcome to meet your timing and profit goals.
Price your home competitively from day one, spend time and money on presentation, market your home with quality visuals, work with an experienced agent who knows your local market, make your home show-ready, and keep emotions out of negotiations.
These tactics work in concert to help you:
- Attract more qualified buyers
- Receive the best offers, fastest
- Close on terms you want
- Maximize your final sale price
Home selling has changed a lot in the past few years. Approaches that worked in 2020 might not work in today’s market. But with the right strategies and knowledge to avoid these common home selling mistakes, you’ll be ahead of the game and find success.
