4 Common Home Seller Mistakes

by Sophie Tsang 12/27/2020

Photo by Mohamed Hassan via Pixabay

If you're like many Americans, your home is your biggest asset. And if you're thinking of selling your home to use the profits for a new home, sending the kids off to college or simply adding it to a retirement fund, there are a few things you may want to avoid to make sure your home sells. 

 Setting the Price too High

Some sellers make the mistake of thinking their home is worth more than comparable properties. A lot of times, living in the home and becoming attached to it may cause an overestimation of the value of upgrades or dismissal of the lower price tag of similar homes with similar features.

When you price a house too high, though, the property may stay longer on the market and go through several price reductions before it finally attracts interested buyers. And if you happen to be in a new home already, you might be paying two mortgage payments while waiting for a buyer to place an offer. Putting the right price on your home helps ensure buyer interest and a quick sale.

Neglecting to Order a Pre-inspection

Some buyers are open to fixing problems, but your cost during the negotiation phase may be significantly higher than it would have been if you hired a contractor to fix any preexisting issues.

A way to solve this problem is to order your own inspection before you put your house on the market. This is also a great way to establish buyer trust, showing that you are transparent about the house's issues when you give them the report or show the report of the issues being fixed.

Going Overboard on Presale Renovations

You love your home, and you want to prove to the buyer that it is a gem. But sinking too much money into presale renovations can mean spending money that you may not get back during the negotiations. You also want to be careful that you're not spending your renovation budget on cosmetic enhancement when the house needs structural improvements. That is another excellent reason to invest in a home inspection prior to putting your house on the market. 

Failing to Choose the Right Agent

The real estate agent you choose to sell your home makes all the difference -- and with buyers' agents requesting up to 6 percent in closing fees, it's important to make sure you find someone who will work hard for you.

What should you look for? Good chemistry tops the chart, since you need to be able to trust your agent to act in your best interest. Other important factors are familiarity with the local market, experience selling houses in your price range, access to good marketing databases, and evidence of a strong network.

Ready to get started with the home selling process? Contact me, and we'll get the ball rolling!

About the Author
Author

Sophie Tsang

Sophie’s Civil Engineering background and marketing expertise contribute to her broad understanding and high efficiency in marketing real estate properties. She has been consistently a top performer since 2005, and personally ranks the highest 1% by volume of all Silicon Valley Realtors. 

As a seasoned negotiator, Sophie’s no-nonsense marketing system and meticulous attention to details have been key success factors. She is known as the The Fixer, frequently helps sellers sell their homes when other agents had failed or given up. She helps buyers get into homes when they previously struggled. 18 years in Real Estate, Sophie has honed her skills on getting the best possible results for her clients. Her trusted network of vendors and use of cutting-edge technology ensure each step of each transaction is executed to achieve next level result!

Sophie has done guest speaking at Faith Radio, and writes a column for World Journal to share her Real Estate Knowledge. She is a proud parent of 2 Eagle Scouts, a Palo Alto Rotarian and a Paul Harris Fellow, also a Golden Gate Keeper (Golden Gate National Park Conservancy).