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4 Mistakes That Every First-Time Home Seller Should Avoid

4 Mistakes That Every First-Time Home Seller Should Avoid

4 Mistakes That Every First-Time Home Seller Should Avoid
(Dreamstime)

First-time home-sellers might seem like they are on the other side of the fence when compared to first-time home buyers, but both go through similar emotions of excitement mixed with anxiety and doubt. But selling a home is more of an emotional decision, especially if it is the first house you purchased as a lot of happy memories are attached to it. The ultimate objective which drives the home selling process is to earn a profit on your investment. However, without proper planning, sellers are likely to make costly mistakes leading to a bad deal.

MakaanIQ tells you about how to avoid some common mistakes when selling a home:

Not hiring a real estate agent

Deciding to sell your apartment without the support of a professional might seem tempting as a cost-cutting measure but could turn out to be a costly mistake in the future. Agents have a larger network and will be able to find you better property for your budget saving you effort and time. It is important, however, to find an agent you can trust and who has a good reputation in the area.

Also read: Are You Ready To Sell Your Home?

Overpricing your property

Properties which are priced above their market value take longer to sell. Make sure you price your property reasonably and stay competitive in the market by doing proper research and looking at similar properties in your area. It is important to view the deal from the perspective of a potential buyer. Take the advice of a knowledgeable sales agent for the same.

Selling without home inspection

Most first-time home sellers underestimate the need to conduct a home inspection. Fixing things like paint chips and loose doorknobs or repairing an old roof or musty carpeting should be done immediately. This would avoid the need to negotiate down the sale price owing to repair works that the buyer would have to undertake later.

Poor marketing

The right marketing plan is essential to ensure your property is highly visible to potential buyers. Liaising with a sales consultant to know the best marketing approach is a wise decision. Incorporating both online and offline resources for marketing your property will go a long way in attracting buyers. Displaying pictures of your apartment along with an enticing description has a considerable impact on finding the right buyer.

Also read

Seller's Corner: Things To Expect From Your Real Estate Agent

Last Updated: Sat Mar 11 2017

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