12 Common Home Selling Mistakes

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If you’re planning to sell your home, there are things you can do to set yourself up for success – or failure. Learn from the mistakes of past sellers. Follow these tips and don’t repeat these mistakes. 

1. Don’t go with the cheapest real estate agent available.

Selling your home could be the most important financial transaction in your lifetime. As a result, it is extremely important that you selec

2. Don’t sign a listing contract with no escape.

Hopefully you will have taken the time to choose the best realtor for you. But sometimes, as we all know, circumstances change. Perhaps you misjudged your realtor, or perhaps the realtor has other priorities on his or her mind. In any case, you should have the right to fire your agent. Also, you should have the right to select another agent of your c

3. Don’t set the price too high.

If you set the price too high, it will scare off potential buyers and lower the number of offers you will receive. People look for a home within a certain price range, one they can afford. If yours is out of their bracket, they won’t even look at the pictures.

What you paid for the house cannot enter into your calculation. You must look at the other homes that have s

5. Don’t be ignorant of your rights & responsibilities.

It is extremely important that you are well-informed of the details in your real estate contract. Real estate contracts are legally binding documents, and they can often be complex and confusing. Not being aware of the terms in your contract could cost you thousands for repairs and inspections. 

Know what you are responsible for before signing 

7. Trying to sell your home before it’s physically ready.

While you may be anxious to get your home sold, don’t rush making repairs, cosmetic upgrades, planting attractive curb appeal or even home staging your home before putting it on the market. The home selling market is competitive and if you want the shortest time possible on the market, take your time and replace old carpet, aging appliances,

9. Don’t limit the marketing and advertising of the property.

There are two obvious marketing tools that nearly every seller uses: open houses and classified ads. Unfortunately, these two tools are rather ineffective. Less than 1% of homes are sold at open houses, and less than 3% are sold because of classified ads. In fact, realtors often use open houses to attract future prospects, not to sell th

11.  Don’t accept a buyer who isn’t pre-approved.

If you accept an offer from a buyer who isn’t qualified for a loan, you could end up wasting months. And if you have a standard contract, they will be entitled to receive their deposit back.

Make sure they get pre-approved. This means that they can get a loan, given their current situation and that a lender has reviewed all their documents and everyt

12. Failing to take the first offer seriously. 

Often sellers believe that the first offer received will be one of many to come. There is a tendency to not take it seriously, and to hold out for a higher price. This is especially true if the offer comes in soon after the home is placed on the market. 

Experienced REALTORS® know that more often than not the first buyer ends up being the best buyer, a