Costly Mistakes to Avoid When Selling Your Home

Sell your home quickly (and for more money) by avoiding these common, costly mistakes.

1. Doing It On Your Own 

Many home sellers opt to forgo commission costs by attempting to sell their own home. However, For-Sale-By-Owner (FSBO) transactions often result in homes sitting on the market longer – costing the seller the same amount (if not more), than if they’d chosen to work with a REALTOR® in the first place. 

Other expenses FSBO sellers may not be prepared for, but are otherwise covered by a REALTOR®, are real estate advertising and marketing costs – which are absolutely necessary if you hope to attract qualified buyers to your home.

2. Not Pricing Correctly 

Yet another perk of working with a qualified Edmonton REALTOR® is that many offer a Free Home Evaluation. Through this process, your agent will be able to hone in on your home’s current market value to come up with the perfect asking price.

Here too, your REALTOR® can even suggest ways in which you can improve upon your home’s value, which is often a necessary step if you hope to sell quickly and for top dollar.

3. Avoiding An Inspection 

Prepare your home for a successful sale (and prevent future headaches) by scheduling a pre-listing inspection. This will help you identify and address any necessary repairs or renovations before putting your home on the market.*

While interested buyers will likely pay for their own inspections regardless, they’re apt to take you much more seriously (and pay more for your home) if you’ve taken the pre-inspection initiative.

*For expert reno-related advice, check out our handy guide, A Step By Step Guide to Renovating (For a Great Sale).

4. Skipping the Staging 

As first impressions are everything, you’ll want to make sure you leave a lasting one with buyers. We recommend helping your home look its absolute best either by hiring a professional stager or by practicing the following tips:

• Keep Your Home Clean and Tidy at All Times
• De-Clutter and De-Personalize
• Ramp Up Your Curb Appeal
• Apply a Fresh Coat of Paint
• Remove Any Traces of Pet Hair and Odours
• Incorporate Pleasant (Subtle) Smells

Of course, a professional stager may not be in your selling budget. However, an experienced REALTOR® will also be able to help you with some effective yet affordable home staging strategies.

Give your home that “wow” factor with the help of our free guide, 7 Insider Secrets On Showcasing Your Home For a Successful Sale

5. Letting Your Emotions Take Over

You’ve accumulated many happy memories in your current home. As such, when a buyer comes in with a low-ball offer, it’s hard not to take it personally. However, one thing you need to keep in mind as a seller is prospective buyers don’t have the same attachment to your property as you do – and getting emotionally involved can cost you the sale if you’re not careful.

Avoid getting in your own way by remembering there is no perfect buyer. Just like you, they too will want to save as much as possible during their real estate transaction, and low offers are completely normal. Trust your REALTOR® to negotiate a great sale on your behalf as you focus on your upcoming move and/or finding your new home.

Home sellers! Don’t forget to take advantage of our FREE seller resources:

• Free Home Evaluation
• Seller’s Guide
• Squeezing Every Last Dollar From Your Home Sale
• Home Seller Blog

Photo credits: shutterstock.com

Categorised in: Selling a Home

This post was written by Terry Paranych Real Estate Group