Mistakes to Avoid When  Selling Your Home

Mistakes to Avoid When Selling Your Home

Selling your home is a huge financial endeavor that needs to be handled carefully. However, even the most well-prepared sellers can make mistakes that cost them time and money. Taking extra care during each phase helps ensure you get the best possible price for your home. If you’re planning to sell your Pennsylvania or New Jersey real estate in the near future, read on for Cary Simons’ tips for selling your home.

Selling without a real estate agent

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We recommend that you do not try to sell your own home. When it is time to list your house, it's important to work with an experienced local real estate agent who can guide you through the process and help you avoid common pitfalls. For example, many sellers make the mistake of overpricing their home. This can lead to months of wasted time and may ultimately result in a lower sale price. An experienced agent can price your home competitively based on comparable sales in the area.

A professional agent can also advise you on how to best prepare your home for showings, ensuring that you make the most favorable impression on potential buyers. Ultimately, working with a knowledgeable and experienced agent will give you the best chance of achieving a quick and successful sale.

Choosing the wrong agent

While making a large real estate transaction, you want someone in your corner who knows what they're doing. Here are a few things to keep in mind when you're choosing a real estate agent:
  • Look for someone with experience in the area. Selling a home is a complex process, and you want an agent who has led clients through the journey dozens of times before. Ask friends and colleagues for recommendations, and hire an agent who has a proven track record of success.

  • Make sure they understand your market. There's no one-size-fits-all approach to selling a home, so find an agent who is familiar with the unique characteristics of your local market. They should know about comparable sales in the area, as well as any trends that may impact the value of your home.

  • Find someone you can trust. This is probably the most important quality in a good real estate agent. Selling a home can be emotional, and you need an agent who will be honest with you and have your best interests at heart. Take the time to interview several agents before making your final decision.
By following these tips, you can find an agent who can get the best possible price for your home.

Making low ROI renovations

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Many homeowners think that making large-scale renovations will make their home more luxurious and increase their value. However, this is often not the case. Not only do extensive renovations take a long time and are costly, but they also often might have a low return on investment rate. If you're planning to sell your home soon, it's best to avoid making any major changes. Instead, focus on small improvements that will make a big impact, such as decluttering, deep cleaning, and staging. These simple steps will help your home look its best and attract buyers without adding too much to the cost of selling the house.

Lacking the home’s vital documents

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Work with your real estate agent to learn what documents are provided by the seller. For example, be prepared to provide a copy of the deed or title insurance policy, as well as any recent appraisals or home inspections. Additionally, you should provide financial statements for the past two years, as well as information on the home’s mortgage, taxes, and utility bills. By providing all of the necessary documentation up front, you can avoid any delays or complications during the selling process.

Not researching the selling process

When you put your home on the market, you're entering into a complex process. There are a lot of moving parts, and it's important to stay on top of all of them. Educate yourself about the process. Learn what the current trends are in your area, what buyers are looking for, and whether you can sell a house with a mortgage (yes, you can). Ask your real estate agent what your competition's homes are selling for. The more you know, the better equipped you'll be to make informed decisions and get the best possible outcome for your home sale.

Not understanding the cost of selling a house

In addition to the agent's commission, several other expenses must be paid, including closing costs, repairs, photography, and staging. If you're not prepared for these additional costs, you may be surprised as you move through the real estate transaction. Consult with your agent and get a realistic estimate of the total cost of selling your home before putting it on the market so you can plan accordingly.

If you’re ready to sell your Pennsylvania or New Jersey property, contact Cary Simons to lead you successfully through the journey.

*Header photo courtesy of the Cary Simons Nelson Group

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