Mistake 1. Overvalued housing.
The selling price of a home depends on many factors, including some that are simply beyond the seller’s control. These include location, nearby home prices, economic conditions, and more. Of course, there are factors that are within the control of the sellers, such as the condition of the house (inside and out), whether improvements have been made in the last few years, etc. Ultimately, however, the price a property is “worth” is determined by what the buyer will pay. It is not what a buyer should pay (in the seller’s mind). But what a buyer will pay. This is something the owner needs to consider, or they may overvalue the home and drive away potential buyers.

Every seller obviously wants to get the most money for the house. Ironically, the best way to do this is to not list a home at a high price. The high list price will make some potential buyers lose interest before they even see the property. Also, it can lead other buyers to expect more than what you have to offer. As a result, overvalued properties tend to take an unusually long time to sell and end up selling at a lower price. The bottom line is that sellers who test the market lose. No matter what the seller wants, the price is determined by the reality of the black and white market. Realtors are here to help sellers understand what homes have sold in the recent past and what homes are likely to sell under current market conditions. The homeowner needs to get a market valuation from the real estate agent and understand what the fair price of the house is in today’s market. It is one of several areas where the assistance of a qualified real estate agent will pay for itself compared to trying to sell for sale by the owner.

Mistake 2. Assuming the “curb appeal” of the house
When the owner prepares to sell a house, he must remember the importance of first impressions. The buyer’s first impression can make or break the sale. With this in mind, the homeowner should take a realistic “new look” and then ask what can be done to improve the “curb appeal” of the home. Repair the house from the street, the lawn, the bushes, the shutters, the windows, the door, the mailbox. Add potted flowers to the front, a wreath on the door, brass fixtures, any “buy me” aspect of outdoor lighting home improvement. That could make a big difference to the final sale price.

Mistake 3. Big mistake is not organizing the home. The owners love their stuff and think the home is comfortable and won’t change… but guess what? Potential buyers visiting the home will likely think it’s cluttered, dirty, and unattractive. Buyers want to see a home in “model perfect” condition and be able to imagine themselves in the home. “Staging” is simply a term for preparing the home to look its best, inside and out. First impressions are important. Create a clean, bright and inviting environment that a potential buyer can imagine living in. For example, remove all clutter inside and out, including the garage, and thoroughly clean and polish appliances, countertops, showers, sinks, cabinets, windows, sliding glass doors, etc. A fresh coat of paint will brighten the overall look of the house. Make any necessary repairs to leaky faucets, crumbling or stained caulk, have carpets professionally cleaned, etc. Outside, landscaping needs to be attentive to detail, trimmed bushes, well-cut grass, etc. Owners must give buyers a reason to see the house as their home.

Mistake 4. “Over-improving” the house! The seller can enjoy a top-of-the-line kitchen if he really wants it, but he can’t get the money on the resale.
It’s easy to get caught up in a home improvement project, especially if the owner believes it will add value to the home.

For example, if the owner lives in a neighborhood where every home has a modest kitchen, they won’t get their resale money back if they put in granite countertops and Viking appliances.

In other words, keep up with the neighbors. Don’t try to make the house the most expensive on the block with significant improvements. Instead, stick to upgrades that bring the house on par with other houses in the neighborhood. In this way, get the best out of home, without going overboard.

Mistake 5: Getting emotionally involved in the house sale. This is one of the challenges home sellers face when they put their home on the market. Once the house is for sale, it is a commodity. The owner must be prepared to treat it like a commodity, sell it like a commodity, and price it like a commodity. It doesn’t matter what you “want”, only what the market can bear price wise. People will come and kick the tires, so to speak, and the owner can’t get excited about how he may or may not appreciate the nuances of the house.