Common House Seller Mistakes

sell house for cash, sell my house right now, sell my house fast, sell house cash now, real estate, home prices

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Mistake #1: Hiring the wrong agent

Of course, sellers want top dollar for their property. And agents know this when they come to pitch. It can be very easy for a seller to hire the agent who promises the highest price, but this can come with wasted days on the market and subsequent disappointment when the agent who promised it all cannot deliver.

When interviewing prospective agents, speak to a few highly recommended by trusted sources. Take a day or two, look at your comps (comparable properties), and then be realistic about your home’s attributes and shortcomings. How does your home compare and contrast? The agents pitching your business might be too forgiving of glaring problems in your home or minimizing the attributes that your property has that others don’t.

“It can be a big mistake to go with the agent who tells a seller what they want to hear,” says Hertzberg. “It’s easy to get caught up in flattery and unrealistic numbers rather than steadfast and true honesty: ‘Here is the number we can attain, but here are the parameters.’ When you speak to your doctor or lawyer, you want the truth so you can act accordingly. With your home, it’s the same thing.”

Mistake #2: Overlooking the importance of staging and repairs

With the proliferation of “before and after” design shows and the popularity of model homes in new developments, buyers have become accustomed to seeing decorated and staged turnkey properties.

If a home in the resale market looks very lived-in or maintains too much of the seller’s personality, buyers today often struggle to imagine what it might look like as their own. Thus, home staging has become commonplace. Buyers are looking for a fresh start, and a new home represents a new chapter in their lives. Sellers need to entice these buyers with what could be, especially if the home currently looks tired or in noticeable disrepair.

“People get used to where they are, and they don’t notice that it’s dated and doesn’t look fresh,” says Hertzberg. “They don’t notice that their garden is dead. They get used to it.”

The importance of decluttering can’t be stressed enough. But it can be an overwhelming conversation, especially for collectors or maximalists. You’re moving, and you need to pack it all up at some point anyway. Decluttering is a great first step in the inevitability of packing.

“Decluttering is a process, and it’s taxing,” says Hertzberg. “But buyers are seeing your home for the first time, and that ‘hello’ should be ‘hello, welcome, and stay for a while.’ Not ‘hello and goodbye.’ ”

Repair work that might consist of easy fixes should also be undertaken before listing. Some of these issues may come up during the inspection period, and it will be less costly for a seller to handle these upfront themselves versus at the buyer's behest.

“Not heeding an agent’s advice with repair work and staging can leave money on the table,” says Iglar. "Minor repair work and staging can return as much as five times what’s invested. Sellers often aren’t willing to spend the money, and they miss out.”

Sellers are also often surprised to learn that some expensive renovation choices may not be desirable to buyers. “Many sellers make the mistake of assuming that expensive custom features that they've added to their home will increase their home value similar to the cost,” says Bruen. But “buyers may not like these features and may see them as costly to remove or maintain, reducing the perceived value of the home.”

Mistake #3: Not checking for open or missing permits on your current property

Another important and often less obvious task is to ensure that all work permits are closed, as these can delay or hamper a deal in the later stages. Closing out a permit can often take several weeks or even longer, derailing a deal.

“Sellers often don't check for missing or open permits before they list their home,” says Bruen. “Then, a week before closing, the municipality denies their application for a certificate of occupancy because of an open permit from years prior. Addressing this can take time that will cause the closing to be delayed. They can prevent this by filing an OPRA (Open Public Records Act) request with their municipal building department to get a list of all past permit applications for their home.”

Hiring an agent who understands local market dynamics and the nuances of your own situation can give you reliable advice and guide you on the path to a successful transaction. There are so many errors that can be made or milestones that can be overlooked when buying or selling a home, but the right real estate agent can make all the difference.
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Additional FAQs

 sell house for cash, sell my house right now, sell my house fast, sell house cash now, real estate, home prices

If you're still uncertain about selling your house in 2023 and need more advice, check out the additional information below.

Should I Sell My House Now Before a Recession?

According to a recent study by Bankrate, there's a 64% likelihood of the U.S. economy slipping into recession in 2023. While this might trigger a desire to sell your house promptly, it's crucial to consider various factors before making a decision. If market conditions align with your situation, selling sooner could be advantageous. However, if you're not fully prepared, it's wise to hold off for now.

When would be the ideal time to sell a house in 2024?

Typically, the prime periods for selling a house are spring and the initial weeks of summer. During these times, the weather is pleasant, natural light is abundant, enticing more frequent house showings, and many individuals aim to settle in before the onset of fall and the holiday season. However, the decision of when to sell your property ultimately rests with you. As highlighted in earlier sections, numerous factors like market dynamics, financial considerations, and the condition of your property influence this choice. While spring and summer stand out as favorable seasons for selling in the real estate market, it's crucial to weigh all pertinent factors before reaching a conclusion.

 Is it possible to buy and sell a home simultaneously?

Certainly, you can both sell your current home and purchase a new one simultaneously, but it requires careful planning. Collaborating with a reliable real estate agent and an experienced mortgage professional is crucial to navigate this process effectively. Negotiating closing dates and timelines is essential to ensure a smooth transition, as you wouldn't want to sell your house before having a new one ready for occupancy. Anticipating and addressing any potential issues or delays in either the selling or purchasing aspects is vital, as they can impact each other. Given the potential stress involved, having a well-thought-out plan is essential for success.

Is it possible to sell my house without the assistance of a real estate agent?

Working with a proficient real estate agent can significantly expedite, enhance, and maximize the profitability of the selling process. However, there are drawbacks, particularly the potentially high cost of hiring a good agent.

If you're inclined to avoid these extra expenses, you have the option to market the property independently. Utilizing multiple listing services (MLS) can broaden your property's exposure and reach. Additionally, seeking support from For Sale By Owner (FSBO) websites can be beneficial.

MLS websites facilitate listing your property across various real estate platforms, thereby increasing visibility to potential buyers. Conversely, FSBO platforms offer a plethora of tips, resources, and guidance to navigate the selling process without a real estate agent. Before proceeding, it's advisable to review our resource on the cost of selling your house without an agent.

Is it necessary to stage my home before putting it on the market for sale?

Although not mandatory for selling a home in 2023, it's crucial to ensure that your property appears appealing in both photos and in-person viewings. To achieve this, we recommend collaborating with a professional photographer or videographer who can capture high-quality images and footage of your home. This approach allows you to highlight specific rooms or features that may be especially enticing to your target audience.

We trust that this guide has addressed numerous inquiries and alleviated some concerns you may have had.

 Tags: sell house for cash, sell my house right now, sell my house fast, sell house cash now, real estate, home prices, housing market.

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