It is rarely simple to sell a home. If you make any mistakes along the road, it will become even more difficult and time consuming. The most common mistakes made by property sellers usually cost them time on the market as well as money in the end. It’s usually just a matter of getting the proper buyer through the door when you handle things correctly. So take a look at these five costly Detroit house seller blunders and learn how to prevent them.
1. Pricing Too High
Pricing too high is one of the most prevalent – and costly in terms of time on the market – Detroit home seller blunders. You obviously want to earn the maximum money for your property, but you must base your decision on market value rather than what you believe your home is worth.
The problem is that sellers’ “Emotions and wishful thoughts distort judgement and practicality. The most significant consideration in determining how much you should charge for your property is what comparable properties in your region have sold for. Location, market strength, local demand, and the condition of the home are secondary criteria, although they are less essential than the comparisons.” the comparative market analysis.
“A home that is priced to sell is one that is priced correctly in terms of its market comps. You’ll get more genuine offers, and you’ll be more likely to sell for what you’re asking.” A comparative market analysis can be performed by an expert local realtor to discover the exact market value of your home so that you can price it appropriately. Contact a Detroit agent at (248) 487-1877 for further information.
2. Neglecting Needed Repairs
Another costly home seller mistake is failing to undertake necessary repairs, whether due to a lack of time or simple oversight. Failure to perform repairs, for whatever reason, might cause your house to languish on the market and result in a reduced sale price.
These repairs do not have to be major, such as a complete kitchen renovation. “Even little flaws, such as an unfastened cabinet or a fracture in the ceiling, can work against you by implying to purchasers that the existing owners haven’t taken care of the property and that more issues may exist.” While it may be costly to undertake these repairs, it is usually more costly not to, hurting sellers in terms of both time spent on the market and final sale price.”
3. Failing to Declutter and Depersonalize
Although these things may seem minor to you, they matter to potential buyers. Be sure to take the time to declutter and depersonalize your home to avoid the costly results of committing this one of our home seller mistakes.
“Clutter, like personal effects, makes it difficult for a potential buyer to assess a house objectively. Clutter not only makes a place feel smaller, but it also hides a home’s best features and makes it look like it belongs in the past rather than the future. As soon as you know you’re going to put your property on the market, start packing up items you won’t use and keeping them outdoors… [T]he fewer items you keep around the house (including closets), the better purchasers will be able to sense the space’s potential.”
Depersonalization is a crucial part of decluttering. You want purchasers to be able to see not only the potential of your property, but also to see it as their own. They must be able to envision themselves living there with all of their personal possessions. However, they won’t be able to do so if your personality is ingrained throughout the house.
According to industry pros, “[d] epersonalization is a crucial step that many sellers overlook because they are still living in the property and it can feel strange to remove all of the personal items that make it feel like home. Home selling, on the other hand, is as much about psychology as it is about pricing and promotion. One of the most common – and costly – house selling mistakes is failing to remove items that indicate this is your home, not theirs.”
4. Selling at the Wrong Time
Many sellers fail to take into account the time of the year when they list their home and by doing so commit another of the costly Detroit home seller mistakes. There really is a best time of the year to sell.
Winter is always a sluggish season for real estate, particularly around the holidays. “People are preoccupied with social obligations, and the cold weather over much of the country makes staying at home more enticing.” Because fewer buyers are likely to be looking, selling your home may take longer and you may receive less money.”
If you have the option, wait until spring or early summer to list your home. This is the busiest time of year for real estate. Because of the beautiful weather and the fact that school is out for the summer, there will be many more buyers out and about.
But there’s also the opposite side of the coin to consider. Winter is a fantastic time to sell a home because there aren’t as many active buyers, which means there aren’t as many sellers to compete against, which might work to your advantage.
Much of it depends on the local market. To find out about the best time to list your home, contact a Detroit agent at (248) 487-1877.
5. Not Working With the Right Agent
The final and perhaps most disastrous of the common home seller mistakes is working with the wrong agent. Here’s why . . .
“Your choice of real estate agent can make or break your home selling experience. A professional agent will be able to walk you through each step of preparing your house for sale and will not let you make any of the other errors on this list. However, if you’re dealing with someone who isn’t a good communicator or who doesn’t place the same importance on your sale as you do, you’re foregoing the opportunity to have a powerful advocate on your side.”
Our experienced Detroit agents can guide you through the sale process and help you avoid any costly mistakes. So if you’re ready to sell and want to avoid costly home seller mistakes, contact us today at (248) 487-1877.