When it comes to selling a home, making mistakes can be costly, both financially and emotionally. An important step in the home selling process is to prepare and inspect the home.

The more diligence you put into the preparation, the more likely you will be able to maximize your profits and protect yourself from potential financial losses. If done incorrectly, however, you can find yourself with a real estate listing that is slow to sell, suffering from costly repairs and inspections, or even in a legal bind.

With this in mind, below are the most common mistakes committed by those selling their homes. Contact Berkshire Hathaway HomeServices at (310) 373-0021 if you want to work with a seller’s agent who can help you avoid these mistakes.

Overpricing Your Home

Setting an appropriate price for your home is essential for attracting buyers and a successful sale. If the price is too high, buyers will likely be discouraged. You should conduct research beforehand to discover the current market value of similar homes in your area. Additionally, hire a professional appraiser to give an accurate evaluation of your home.

Taking good photos, staying away from personalization, and highlighting your home’s best features can all boost the value of your property and help you get the best return on your investment. Consider staging and an open house to highlight your home’s benefits and draw in buyers.

You also want to remain flexible; if it’s been on the market too long, an even lower price point could generate more attention.

Not Preparing Your Home for Sale

Failing to properly prepare a home for sale can have catastrophic consequences. A lack of preparation invites potential problems that can cost the seller thousands of dollars more than they would have if they had properly staged their home.

Common issues include incomplete repairs and maintenance, clutter, outdated decor, and an unattractive curb appeal. To help ensure a fast and successful sale, it’s important to first take note of potential issues and then implement strategies that focus on properly staging the home.

This can include simple remedies such as a fresh coat of paint, deep cleaning the carpets, and decluttering the area. Additionally, updating key features and adding certain home accessories may also be crucial in creating greater appeal to potential buyers.

Ultimately, by taking the extra steps needed to stage one’s home will go a long way in making a more successful sale.

Neglecting to Research the Market

When evaluating the current housing market, it is important to research information from a variety of sources, including recent trends in home sales, housing costs, rental rates, rental vacancies, and the state of the economy. It is also important to inspect the local market for relevant information about the number of homes for sale and their prices.

Additionally, having a clear understanding of the neighborhoods, schools, and local infrastructure can aid in making an informed decision. Once all of the relevant information has been gathered, it is necessary to strategically adjust your strategy according to the current trends in the local housing market.

Doing this not only helps to identify a successful course of action, but also minimizes the risk of financial loss. The good news is that Berkshire Hathaway HomeServices can help. Call us at (310) 373-0021 now to get started.