Experienced real estate professionals like Babette Bean understand that selling a home can be a challenging and stressful process, especially for first-time sellers. Navigating the process with confidence is much easier with an insider’s perspective on the top home selling mistakes to avoid.
Babette Bean is a well-known real estate expert who has been recognized for her exceptional work in the industry. She is a member of the Minneapolis Art Institute Friends Board and has served on several community boards. Her insights on the common home selling mistakes that homeowners make and how to avoid them is influenced by her resume, vast and varied experiences, and impressive real estate sales record.
Failing to Price Your Home Correctly
One of the most common mistakes homeowners make when selling their home is pricing it too high or too low. Overpricing your home will make it less attractive to potential buyers and leave money on the table. Often, pricing a bit lower will get a quicker sale and more money, including possible multiple offers.
According to Babette Bean, “Pricing your home correctly is crucial in getting it sold quickly and for the best possible price. A good real estate agent will conduct a comparative market analysis to determine the market value of your home. This analysis will include the prices of recently sold homes in your area and the current market conditions. Based on this information, your agent will recommend a listing price that is fair and competitive.”
Foregoing Proper Repairs and Maintenance
It’s crucial to make sure your home is in good repair before putting it on the market. Buyers will notice any issues, no matter how minor, and may use them as leverage to negotiate a lower price. Even if you think small repairs or maintenance can wait, it’s better to address them before putting your home on the market. By taking care of any needed repairs and maintenance, you can increase the value of your home and make it more appealing to potential buyers. A fresh coat of paint and improving curb appeal increases the value of your home.
Neglecting to Stage Your Home
Another mistake homeowners make is failing to properly stage their home. A poorly staged home will fail to appeal to potential buyers, while a well-staged home can make a significant difference in the selling process.
“Staging your home is critical in making a good first impression with buyers,” Babette Bean recommends. “This means decluttering, deep cleaning, and removing any personal items. You want buyers to be able to picture themselves living in the space. If you’re unsure how to properly stage your home, consider hiring a professional stager.”
Going it Alone
Selling a home is a complex process that involves legal, financial, and emotional factors. Trying to navigate this process alone can lead to costly mistakes and lost opportunities. Hiring a professional realtor can help you avoid these pitfalls.
An experienced realtor can help you price your home correctly, stage it properly, and market it effectively. They can also help you negotiate with potential buyers and handle any legal or financial issues that may arise during the selling process. Don’t make the mistake of trying to sell your home without the help of a professional realtor. On average, listing with a professional gives you a 13% higher net rate of return.
Refusing to Negotiate or Make Concessions
It’s important to remember that buyers may request concessions or repairs during the negotiation process. Refusing to make reasonable concessions can cause potential buyers to walk away from the deal. While it may be tempting to hold firm on your asking price, refusing to negotiate or make concessions can ultimately cost you more in the long run. Keep an open mind and be willing to work with buyers to find a solution that works for both parties. This can help keep the home sale process moving forward and increase the likelihood of a successful sale.
Failing to Disclose Issues
Being upfront about known issues with the property is important. Issues of note may include water damage, termite damage, or issues with the foundation. Failing to disclose these issues can lead to legal trouble down the line as buyers may feel deceived and take legal action. Be transparent about any issues and provide documentation of any repairs or inspections done on the property. This can help build trust with potential buyers and make the selling process go more smoothly.
Selling your home can be a challenging and emotional process, but by avoiding these common mistakes, you can increase your chances of success. By pricing your home correctly, staging it properly, acting with transparency and integrity, and working with a professional realtor, you can sell your home quickly and for the best possible price.
About Babette Bean
Babette Bean is a prominent realtor who has years of experience in the industry. She has won numerous awards and has been recognized for her outstanding work. She is a member of several organizations, including the Minneapolis Art Institute Friends Board and Alpha Chi Omega. Babette has traveled extensively and is a member of the Minikahda Club in Minneapolis, Minnesota, and the Vineyard Country Club in Naples, Florida.