Top 5 Home Selling Mistakes

Selling a home is a major decision and can be an intensive process. If you are getting ready to put your home or property on the market, try to avoid these top home selling mistakes.

  1. Quickly making the decision to sell your home “by owner.” Many approach the home selling process assuming they can easily sell their home without the help of a real estate professional. This can be one of the worst mistakes you can make, as a professional knows the ins and outs of the market and is familiar with comparable properties in your area. More so, they are equipped to handle any problem or concern that arises between buyers and sellers, with a full knowledge of the real estate process.

OreillyTeam-CircleMasterFile8-Nov15

  1. Not researching your Realtor. Many Realtors share the same expertise and years of experience, but not all share the same approach. Look for a Realtor who makes you feel at ease, is willing to sit down and talk you through the process, and makes himself or herself available to answer your questions and concerns along the way.
  1. Determining a price based on comparable home sales, not your desired profit. A home that is priced too high can end up sitting on the market too long, while a home priced competitively can generate interest and will likely sell much more quickly. An experienced Realtor in your area can help you identify the right price for your home and your expectations.
  1. Setting unreasonable expectations for open houses or home showings. Sellers may easily become emotionally invested in the selling process. However, it is important to remember that not every prospective buyer that looks at your home will have serious interest in buying it. For example, many buyers like to attend open houses to see homes in their desired neighborhood. If you prepare yourself for the reality that while it does happen, it is unlikely for the first prospective buyer that visits your home to be the final buyer, you will be better equipped to face the process.
  1. Trying not to disclose critical information about your home. During the selling process, you may wish you could pretend certain issues in your home, such as a basement leak or a crack in the siding, did not exist. However it is important that you disclose any issue with your Realtor and that this information is communicated to the buyers.

To learn more about the selling process, contact O’Reilly Team today. We work with buyers and sellers throughout Northeast Ohio.