Seller Mistakes to Avoid
1) Don't underestimate the cost of selling
An agent can receive commissions of around 2%-5%, which consumers anticipate paying can be a tiny portion of the total cost of selling a house. The selling costs can be closer to 10% of the sale price when you consider closing costs, repairs, and other demands from the buyer.
If you buy a new house before you sell your old one, you could have to rent a place to live while you sell the old one. You would also have to pay for two mortgages and other costs like utilities, taxes, and storage.
2) Selling It on Your Own
You can be in a blunder by going the For Sale by Owner (FSBO) route and not utilizing a real estate agent. Selling a property is a significant hassle; you might miss out on a lot more money.
In fact, according to 2021 statistics, the average FSBO property sold for $260,000, compared to more than $318,000 when sold with an agent.
3) Don't forget about lighting
Bright rooms make your house appear more prominent, so open the drapes and shed light on every nook and corner! Begin by replacing 100-watt bulbs in lights and overhead fixtures. A few candles and a fire in the fireplace will add a warm and comfortable ambiance.
4) Marketing is key
Effective marketing is vital to the successful sale of your property. Unfortunately, it is frequently implemented poorly. Taking stunning images or videos of your house to highlight crucial aspects is the first step toward successful marketing. A competent agent will understand the significance of staging your home.
5) Choosing the right real estate agent
An experienced real estate agent will be able to advise you on the best listing price for the present market. They should also be able to negotiate correctly on your behalf and guide you through the selling process.