Real Estate Investment 101: Getting Started

Selling Your Home This Spring? Boost Your Chances Of Success By Avoiding These Common Mistakes

As winter winds down and pleasant spring weather once again looms ahead, homeowners who want to sell their home are gearing up to compete in the always hectic spring real estate market. While buyer activity has long been strongest during the spring selling season, competition from other sellers is also notoriously fierce. This means that smart home sellers who want to enjoy the best selling experience will need to prepare carefully and avoid making common mistakes that could impact the sale of their home.   

Mistake 1: Listing the home for sale before the home is completely ready to welcome prospective buyers

Sellers who hurry to put their homes on the market without taking time to completely clean, repair, and declutter them are endangering their chances of attracting the best buyers and securing a great offer. If you are in a position where a repair, cleaning, or other issue has not been completed by the date you had planned to list, it will be better to postpone the listing date than to risk turning off qualified buyers. 

Mistake 2: Setting a listing price based on sentiment, instead of actual sales data

Sellers who love their home and have thoroughly enjoyed living in it often make the mistake of allowing their sentimental feelings to get in the way of verified market data when pricing their home. It is important to remember that buyers are looking at and comparing several homes based on specific parameters such as size, number of bedrooms, location, and amenities.

To arrive at the right price, sellers must leave personal feelings out of the decision and instead make sure that the listing price is chosen solely on the basis of a properly prepared comparative market analysis (CMA) that has been properly adjusted to reflect the actual condition, age, and features of your home.  

Mistake 3: Choosing their listing agent for the wrong reasons

Another common mistake sellers often make is choosing their listing agent for the wrong reason. For some, it seems uncomfortable to disappoint a cousin or sibling who holds an active real estate license, even when they lack experience or worse, hold a full time job in another industry. 

Marketing a home successfully requires partnering with an experienced agent who has the time and skills to handle the transaction from listing through closing. Instead of automatically opting for a relative or friend, sellers should look for a realtor with a verifiable track record of successful sales and a willingness to work closely with their seller clients throughout the process.