5 Dumbest Mistakes People Make When Selling Houses
Selling your house is not easy, and even smart people make mistakes when trying to sell their houses. However, no matter how stressful and tiresome selling a house could get, a home seller must do his or her best to avoid committing mistakes because small errors could lead to bigger problems. Here are five of the dumbest mistakes people make when selling houses and some tips on how home sellers could avoid them.
Mistake #1: Setting the price too high
One of the most common mistakes that inexperienced home sellers commit is setting the asking price too high. It is understandable that you may want to gain a large amount of money from your property especially if it is a Las Vegas luxury real estate property, but setting your asking price too high makes it possible for your house to sit on the market for months and end up selling less than fair market value.
Tip: You can do a quick research about the average price of real estate properties similar to yours within your area, while taking into account the condition of your house, as well as its market price back when you first bought it. As much as possible, come up with an asking price that is not too low for you yet not too high for prospective homebuyers.
Mistake #2: Failing to showcase your home effectively
Giving homebuyers a simple tour of your house will not be enough. There is a difference between showing your house and showing your house off. Failing to showcase your house might not make homebuyers imagine themselves in your home and might give the impression that the house is unremarkable.
Tip: To impress homebuyers without false advertising, highlight your house’s best features and minimize it faults. Focus on what makes your home and neighborhood a good place to live in.
Mistake #3: Getting stuck in contracts
Some home sellers carelessly sign a listing contract with no way out either because of the lack of experience or too much excitement to get the house sold. The mistake of signing a long term listing contract sets up the possibility of being stuck with an ineffective real estate agent. Moreover, this might also generate lesser income than expected for the sale of your home.
Tip: Be careful in signing contracts and choosing the right real estate agent to sell your house!
Mistake #4: Choosing a real estate agent for the wrong reasons
Another common mistake home sellers do is hiring a real estate agent based on the agent’s popularity, but without considering other important matters like the agent’s area of expertise. Hiring a real estate agent simply for his or her popularity and credentials could have you end up working with an agent with no expertise in selling houses within your neighborhood and/or in selling your type of home. Instead of getting things done fast, this situation could make the house sale progress even slower.
Tip: The right thing to do is hire a real estate agent who, aside from his or her remarkable credentials in selling houses fast, has a good record of selling houses like yours within your area. Make sure that the agent of your choice knows your neighborhood and house very well so he or she could exceptionally showcase your property to homebuyers.
Mistake #5: Not knowing your legal rights and obligations
This mistake is somehow related to Mistake #3, as this mistake also concerns matters like contract signing. The problem is, people often underestimate the importance of contracts as legal documents that can bind people to certain legal obligations. Home sellers who do not take contracts seriously or do not take time to learn their legal right and obligations usually end up neglecting details that could cost them a large amount of money.
Tip: If you are new to real estate property selling or if you lack knowledge on legal matters concerning selling your house, be sure to take time knowing your legal rights and obligations as studying real estate legal matters might save you from inconveniences and unexpected expenses in the long run.
To make sure that you truly avoid these mistakes, you can contact Triumph Luxury Homes and ask for consultation or assistance in selling luxury real estate properties in Las Vegas, Nevada!