15 Home Selling Mistakes

If you’re thinking about putting your home up for sale, there is a lot that can go right in this market, with buyers out in droves and red-hot demand pushing prices upward. But before you get a big closing check, it’s important to know what can go wrong and how to avoid costly errors. Here are the 15 biggest mistakes you can make when selling your home.

1. Trying to sell your home by yourself

   Some homeowners attempt to sell their homes without a REALTOR® to save money. Statistics show this usually backfires. The average FSBO home sells for $210,000, while a REALTOR®-assisted home sells for $249,000 – a $39,000 difference. FSBOs also sit 19 days longer on the market, and 20% are eventually relisted. That’s why 87% of homeowners choose a real estate agent.

2. Pricing your home unreasonably high

   Setting an unrealistic price is one of the most common mistakes. While everyone wants top dollar, overpricing can cause a home to sit on the market and cost more than it gains. Start with a high-but-reasonable listing price and adjust incrementally if showings are low or it doesn’t sell.

3. Fixing up a property too much before listing

   Necessary repairs are important, but over-remodeling rarely pays off. Cosmetic fixes like exterior siding, a new front door, or a mid-range kitchen remodel yield about 70 cents per dollar spent. Many other repairs return even less. Focus on key improvements and consult a professional before undertaking expensive projects.