Mistakes Sellers Make

Oftentimes, Realtors are brought in to help first-time buyers navigate the murky waters of the real estate market. The focus is on what buyers can do (or not do) in order to make their buying experience less frustrating. But what about sellers? In particular, first-time home sellers need just as much help, especially when the market is as crazy as it is right now. Here are a few first-time seller mistakes to avoid. 

Overpricing

Even though the median list and sales prices continue to go up and up each month, that doesn’t mean that, as a seller, you overprice your listing. Remember, you are pricing for interest, not closing. Pricing your home too-high in the beginning can alienate buyers. If you price a bit lower than your anticipated closing price, you’ll generate more interest, draw more potential buyers, and maybe even end up with a bidding war that surpases your initial goal. 

Skipping Staging 

Homes are moving quickly, yes, but when a buyer can truly see themself in your space, odds are your home will sell even faster. On average, professional staging reduces time on market and fetches up to 5% more in price. Hiring a professional is worth every extra dollar. 

Being Unreasonable

This one may seem obvious, but just because an offer is high doesn’t mean it’s actually going to pan out. Buyers may come in with outrageous bids in order to out-offer their competitors. The thought of ultra-high offers may seem appealing but there’s a definite possibility that the entire scenario will fall apart. Offers can fall apart in financing or not appraise for the initial offer in the first place. 

By accepting the unreasonable offer in the first place, you’ve pushed out buyers who could have made an actual, legitimate offer and gotten you to closing faster.

For more common first-time seller mistakes, visit Realtor.com.