Selling your property is an exciting moment that takes careful planning. The thrilling moment you put your house on the market can also be a mistake if you aren’t ready for the emotional, mental and physical aspect of selling your home. Once you are ready to tackle the task of selling your home make sure you avoid the five common mistakes listed below.
- Over Customizing Your Home – It’s not a secret that upgrading and renovation usually increase your property value. However, you want to upgrade the right areas of the house. If you are planning to improve the living and dining room, you might want to think of renovating the kitchen and bathroom first. Focus on the two most important rooms in the house which is the kitchen and bathroom. Upgrade appropriately without going overboard and spending money you will never get back.
- Selling Your Home on Your Own – Before you stick the “For Sale By Owner” sign in the front yard, you should do research. Selling a home takes much more than a sign in the yard and curb appeal. There are legalities, negotiations and more that a professional real estate agent is licensed handle. If you aren’t prepared you can end up losing money on a deal when battling against a professional that knows all the hidden secrets. Protect yourself by hiring a real estate agent to guide you through the process.
- Hiring a Realtor Who Is a Friend – Hiring a friend that has a real estate license to sell your property can be a big mistake. Since there are personal emotions involved you can end up battling with your friend over pricing, negotiations and other important decisions. Hire a professional real estate agent to prevent personal emotions getting involved. Selling your home is a business transaction and it should be treated that way.
- Over Pricing Your Home – Many sellers have a specific profit they would like to make from the sale of their home. To help you avoid pricing your home you should hire an appraiser and find out the price other homes sold for in your area.
- Letting Your Emotions Take Over Negotiations – You might be an experienced and excellent negotiator. Don’t let your emotional attachment to your home get in the way. You are most likely emotionally driven and might think your house is worth more than the potential buyer is offering. Don’t let your emotions take over and ruin the sale. Focus on the appraisal price and the price range other homes sold for in your area.
Selling your home is a complex and emotional situation. You need to be emotionally prepared to let go and move forward. This is the first step you need to deal with before putting your home on the market. Your next step should be consulting with a real estate agent. They will provide you with important information such as necessary renovations, pricing and more.