3 Expensive Mistakes All Home Sellers Should Avoid
Selling your home can be an extraordinarily difficult and drawn out process, no matter where you live. While many homeowners think they can handle the selling process without the help of a realtor, any professional real estate agent in Los Gatos will tell you that homeowners without realtors are much more likely to make some costly mistakes. Here are just a few home selling mistakes that can cost homeowners time and money.
Neglecting Curb Appeal
A huge number of homeowners neglect this major component that can drastically affect when, and for how much, their home sells. But making sure your home’s exterior looks as great as its interior is essential for a quick and effective sale. There’s a good reason why nearly 90% of real estate agents encourage homeowners to invest in landscaping prior to selling — well-landscaped homes may sell for between 5.5% and 12.7% more than other similar homes. In fact, studies show your landscaping may add up to 28% of your home’s overall value. Ask your real estate agent in Los Gatos if you’re unsure of how to best add to your home’s curb appeal.
Setting the Price Too High
Many homeowners make the mistake of pricing their home too high, simply because they don’t want to lose out on potential profits by pricing it too low. But the fact of the matter is that overpriced homes do nothing but drive potential buyers away. Buyers may submit offers drastically lower than the asking price, frustrating you as a seller. Yes, in the current seller’s market you may get lucky, but think carefully before overpricing your home.
“By far, the worst home selling mistake a seller can make is hanging the wrong price tag on a home…Pricing a home to sell is an art. Part of the market value is based on comparable sales, but other factors to consider include market movement, demand, the home’s location and its condition,” writes Elizabeth Weintraub on The Balance.
Working With an Inexperienced Agent
When choosing a real estate company or agent, don’t just look at the number of years they’ve been in the industry. It’s important to choose an agent who has actual knowledge of your home’s area. This local experience allows them to provide the most relevant and helpful information and to set an accurate price for the market.
The home selling process can certainly be tedious, and these are just a few mistakes that should be avoided along the way. But being aware of what not to do during the process can help you make a faster sale and finally relocate to your next home.