Sell your home fast and for the right price?
Every homeowner fantasizes about an effortless, high-profit sale, and for good reason. A fast home sale means less stress, fewer showings, and quicker access to your hard-earned cash.
The only problem is, most sellers make big mistakes and lose thousands of dollars and months of time in the process. Recent survey data shows 42% of home sellers said the process was more expensive than they anticipated, and some sellers are caught by surprise.
If you don’t play your cards right, you just aren’t going to get the maximum amount of money for your house.
In this guide, I lay out the 9 most expensive home selling mistakes that hold up your sale and cost sellers hundreds and thousands of dollars to fix. Let’s get into it!
What you’ll discover:
- Why Do Home Sellers Make Costly Mistakes?
- The Price Tag Problem That Kills Sales Fast
- Marketing Missteps That Turn Off Buyers
- 5x Critical Mistakes That Cost You Money
Why Do Home Sellers Make Costly Mistakes?
Home selling mistakes are common because most people will only sell 1 or 2 homes in their lifetime. You’re not an expert real estate agent – and that’s okay.
However, there’s an expensive downside here…
When you don’t know what you’re doing, the little things can get out of hand quickly. Recent market research shows that home sellers are spending an average of $67,245 in selling expenses – almost triple what they thought it would be.
Emotional Decisions vs Smart Business Moves
Home is where the heart is. Your home is not just a building where you live, but a place where you made memories, raised your family, and built your life.
The problem is this emotional attachment makes it hard for sellers to switch their mindset to treating their home as a business asset.
However, selling your home fast requires you to adopt a business approach to the process. Buyers will look at your home like a business purchase and not get sucked into your emotional attachment.
Working with an experienced Aurora, Colorado cash home buyer means selling your home fast, without the stress and uncertainty that comes with typical house sales. These professionals know you want it fast and for a good price.
Note: Cash buyers typically have a 7-14 day closing window, in comparison to the 30-45 day window for traditional sales.
The Price Tag Problem That Kills Sales Fast
Price Mistakes are one of the worst things you can do.
According to HomeLight, a survey of 70% of real estate agents say overpricing is the number one home selling mistake.
Here’s why this one kills your chances:
- Overpriced homes have less showings
- Buyers pass over listings that seem too high
- Your home sits longer on the market
- You have to eventually reduce price
- By then, the best buyers are long gone
Weeks 1 and 2 your home is listed is the most crucial time frame. This is when the highest volume of buyers are actively viewing your property. Price it wrong, and you’ve blown your best opportunity.
The “Chasing the Market Down” Trap
Overpricing and then dropping to chase down the market is a common mistake.
Sell your home fast means getting it right the first time instead of gambling on a seller’s market.
Marketing Missteps That Turn Off Buyers
Did you know that a lot of sellers are in for a surprise?
The photos and marketing of your home matter more than almost anything. In today’s digital age, 95% of buyers start their home search online.
Terrible Photos Kill Interest Fast
Bad photos are a huge turnoff. If your listing photos are dark, blurry, or have messy rooms, buyers will move on.
Invest $300-500 in professional photos. You can make up for it in higher sale price.
Hiding Problems Instead of Fixing Them
Another big mistake? Trying to conceal obvious defects instead of fixing them up front.
Buyers are smart. They know when they see furniture blocking damaged floors or walls painted over water stains. They’ll assume your house has more hidden problems, and it’ll make them less likely to make an offer.
Limited Showing Availability
Another common no-no? Making it difficult for buyers to view your home.
Weekends-only showings or 24-hour advance notice is a self-inflicted wound in a competitive market.
Motivated buyers often want to see homes at their convenience. They’ll pull the trigger on another home if they can’t see yours when they want to.
Critical Mistakes That Cost You Money
Now the biggest money-wasting mistakes. Topping this list are the ones that could cost you tens of thousands of dollars if not careful.
Going FSBO Without Experience
Selling for Sale By Owner (FSBO) is tempting because it sounds like a way to save thousands in commission, but the numbers don’t lie.
The National Association of Realtors data says that FSBO homes sold for a median price of $380,000 while homes with an agent sold for $435,000. That’s a $55,000 difference!
Recent national market research says that 80% of FSBO sellers regretted their sale and most wished they got more offers.
Here are what FSBO sellers often miss:
- Pricing strategy
- Legal paperwork
- Negotiation tactics
- Marketing reach
Unless you have real estate experience, FSBO is a recipe for expensive mistakes.
Not Budgeting for Selling Costs
Many sellers focus only on their profits without budgeting for their selling costs. They get surprised later in the process.
Common Selling Costs:
- Real estate commissions (5-6% of sales price)
- Closing costs (1-3% of sale price)
- Repairs/staging
- Moving expenses
Smart sellers budget 8-10% of home’s total value for all selling costs.
Ignoring Market Conditions
The market is constantly changing and what may have worked in your neighbor’s market last year will not be applicable to your market this year.
The housing market is changing rapidly, especially in 2024. We are experiencing a market change from a sellers market in 2023 to a buyers market in 2024 because of interest rates.
Key market factors that affect your sale:
- Local inventory
- Average days on market
- Interest rates
- Seasonality
Skipping Pre-Sale Prep
The most expensive mistake? Skipping important prep work before listing your home.
Buyers expect a move-in ready condition. If your house needs obvious repairs, lowball offers are coming.
Do some pre-sale prep work to your home. A coat of paint, small repairs, and a deep clean go a long way.
Timing Your Sale Wrong
Many sellers buy into the misconception that spring is the only good time to sell. While spring is peak selling season, homes sell throughout the year.
The best time to sell is when you’re ready to sell not when the calendar says.
Waiting months for the “perfect” season to sell could end up costing you more than selling in a slower time of year.
Wrapping It Up
Avoiding these home selling mistakes can keep thousands of dollars in your pocket and spare you months of headache and stress. The key is thinking of your home as a business asset instead of an emotional investment.
Quick recap of the biggest money-wasters:
- Overpricing the home right out the gate
- Selling FSBO without experience
- Poor photos and marketing
- Not budgeting for selling costs
- Making it difficult for buyers to view your home
Selling your home fast is about strategy, not luck. You can work with a traditional agent or work with a cash buyer like the Atlas Portfolio – the right approach can make all the difference.
Sellers that avoid these mistakes get top dollar and close their home sale in the fastest way possible.
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