- Setting a price without careful research. You may think you can figure out your home’s worth by checking homes listed close to yours, but the real values can vary on a number of factors including time of year, inventory, and recent sales to name but a few. Save yourself a lot of stress and get a market analysis by a professional Realtor.
- Pricing too high from the beginning. Overpriced homes generate fewer showings that those priced close to market average. Also, homes priced correctly usually sell closer to or even above asking price.
- Using an odd listing price. Buyers search real estate websites for price changes, such as between $250,000 – $300,000. If you set an odd price, you run the risk of missing some of your best potential customers, and as a result working harder and with more stress than needs to be.
- Overpricing because you are in no rush to sell. Interest is greatest the first few weeks of a listing. The longer a home is on the market, the less likely you are to get showings, let alone your price.
- Getting emotionally involved. At the end of the day, selling your homes is a business transaction. Don’t get offended if you receive a low offer. Consider it an opportunity for negotiation.
- Expect the house to sell itself. Even in a seller’s market, you need to make sure your home is in tiptop condition, tastefully staged and effectively marketed if you want to sell quickly and at a good price.
- Trying to sell on your own. According to the National Association of Realtors, for-sale-by-owner homes stay on the market longer and sell for an average of $39,000 less than those sold with the help of a real estate professional.
If you are thinking of selling your home, keep these things in mind and reach out to a Realtor with experience first. Even if you still decide to go it alone, at least you will have some more information to help you make informed decisions for you and your family.