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Costly Mistakes to Avoid When Selling a Home

House with a for sale sign

Nobody’s perfect and everyone makes mistakes. That said, you should try and avoid the following blunders as much as possible when selling your home.

Choosing to work independently or with the wrong real estate agent

Some sellers hire the first agent they meet without doing the proper research. Others are simply confident enough to sell their houses on their own. The latter is fine if you are an experienced home seller with considerable knowledge of the local market. However, if you are a first-time seller, not working with the right real estate agent can cost you. 

Your home might end up in the market for far longer. You might even sell it for less than its market value, thus making an unprofitable sale. So, remember: work with a real estate agent. Take your time to vet candidates. You want your real estate agent to have excellent communication skills, an expert grasp on the local housing market, and relevant experience. 

Skipping the home staging or not doing it right 

There are many benefits to home staging, all of which impact the sale of your house. It showcases the home at its best, allowing interested buyers to see themselves living in it. Home staging helps the property appeal to buyers’ emotions, enticing them to make an offer. You can see why it would be a mistake not to stage your home.

Staging your home without a professional can also have a negative effect. In catering to your buyers, did the style turn out too minimalist, making the house look cold and austere? Perhaps you forgot to declutter and depersonalize, leaving photographs of you and your loved ones all over the home. Make sense of the space – are the rooms being used the way they were intended to be used? It could also be that the overall style direction is outdated. 

Opting not to make any repairs and upgrades 

You can sell your home as-is, but choosing to do this might be a mistake if you want to earn top dollar from the sale.

Making the necessary repairs and upgrades suggested by your real estate agent can increase the price of your home and reduce its time on the market. Besides, a move-in ready home is attractive to buyers. It gives them the impression the house is well-maintained, requiring little to no additional work after purchase. 

Repairs and upgrades are not always expensive. There are key but affordable home improvement projects that can boost your property’s sale price. The up-front investment in transforming your home to a better condition will prevent you from losing thousands off the final sale price.

Undervaluing your property

Pricing your home to sell is a good concept, but that doesn’t mean you should undervalue your property just to sell. Consult your real estate agent to estimate the value of your house, then from there, determine the best selling price for your home. You can also request a market analysis and invite a home appraiser to get a better figure − one that’s competitive and profitable. 

Sell your Vancouver home with TeamW Realty

TeamW Realty | Lucy and Izabela is one of the leading teams in Vancouver real estate. Contact them to learn more about selling your home in Vancouver.