If you’ve lived in your home a long time, chances are you’ve become emotionally attached. But when you’re selling your house, those emotions can get in the way. You may think your home is worth more than it is, and have trouble finding a buyer. You might also overlook real estate investors – companies that buy houses – or other cash buyers when they may offer you the best deal. Here are some common mistakes that people make when selling their homes, and tips on how to sell your house fast.
1. Don’t Be Afraid of Price Reductions
Emotional attachment and other factors can cause homeowners to overprice their homes. You may start out confident that your home will sell for what you believe it’s worth. But as days turn into weeks, you may start to panic.
You worry that you’ll only get lowball offers, or that you’re not getting any interest. Or maybe the need to sell your house is becoming more urgent, or you’re worried your future and finances will be ruined if you can’t sell fast.
Panicking often leads to bad decisions. Many homeowners don’t understand that if they list their home at the right price from the beginning, they could avoid all of this stress. But if your home has been on the market for more than a few weeks without interest, it’s time to do your homework and list for what your home is really worth.
2. Let Go of Your Attachment
Of course, you’re attached to your home. It may be the place your kids took their first steps, where you raised them, or maybe even the place you grew up. But when you make a decision to sell a home, it becomes an asset—and like any other goods you want to sell. It must be marketed well, and at the right price if you want to sell your home fast. If you are too attached, you’re likely to make a mistake in the selling process. These mistakes could include:
- Listing too high.
- Ignoring the market analysis, like the comparison of nearby homes that sold recently.
- Disregarding an agent’s expert advice.
- Not getting the property properly prepared for the market, not updating the home for sale, or not getting it ready for showings the way people want to see it—without all your decorations and personal clutter.
- Being irrational during the negotiation process.
- Not following up on the selling process or not showing up for showings or offers, even after the home has been on the market for several months.
Potential buyers don’t care that you’re emotionally attached to your home. Nor do they care what you think it’s worth. If you really don’t want to sell and can afford not to, don’t. But don’t make the mistake of listing your home at an unrealistic price.
One way you can let go of your attachment is to begin to separate your life from your home. Remember, you’re not selling the memories, pictures, or belongings that matter to you. So start getting them ready to move and imagine your new home and your new life.
3. Don’t Ignore the Needs of Potential Buyers
If you are looking to sell your home quickly, you have to understand what buyers want. Working side by side with your agent, figure out what potential homeowners are looking for so you can market your home accordingly.
For example, if you have a three-bedroom home with a fenced in backyard near a park or school, your buyer will probably be a family. If you have a studio in the downtown area of a college town, then your buyer will probably be a student or professional.
The condition is important too. Most buyers aren’t looking for a fixer-upper, so it’s usually a good idea to fix as many issues as you can before you put your house on the market. And of course, you want to make your house look presentable before you take pictures or show it to buyers. In some cases, you may not feel it is worth putting in the effort, or it may be overwhelming. Then, it’s time to consider companies that buy houses, like Home Cash Guys. Investment companies that buy houses can help you sell your home fast, as is. With little to no hassle, they are much easier to work with than most homebuyers and can end up being the easiest, and best option.
4. Don’t Think You’ve Won Too Soon
Never make the mistake of assuming your home is sold until the deal is closed and the last paper has been signed. You might assume your house will sell quickly because you’ve priced it well and there seems to be some early interest. But don’t get ahead of yourself. Even in today’s competitive market, many deals with fall through. It could be because a prospective homebuyer pulls out at the last minute because they lost their job. Or, maybe they did not qualify for the loan they were looking to get. Here are some common mistakes sellers make when they feel like their home is as good as sold:
- Not staging the house properly (going cheap) or failing to de-clutter the house correctly.
- Assuming that because demand is high in your market that your home will sell quickly, and overpricing.
- Getting sloppy with maintenance while your home is listed.
- Assuming that a big chunk of money is coming your way and making extravagant purchases before your home has sold.
5. Be Honest About Your Home’s Condition
Many homeowners think they should list their home for whatever amount of money they need to buy their next home. Or what they need to get themselves out of debt. Or they’ll compare their homes to what similar homes have sold for without taking into account their home’s condition. Any of these mistakes can cause a home to sit for a longer amount of time.
6. Consider Companies that Buy Houses for Cash
Sometimes, your home might not be in good enough condition to sell. And it might be too much work to make the necessary improvements. That’s when considering companies like us – companies that buy houses for cash, like Home Cash Guys, may be your best option. We buy houses for cash in Philadelphia, Delaware, Chester, Bucks, Montgomery, Berks, and Lehigh County, Pennsylvania. We pay cash for homes as is and we close fast. To learn more or get a no-obligation offer, click here.
More Helpful Home Selling Tips:
The Real Reasons You Can’t Sell Your Home in Philadelphia
My House Has Been Sitting on the Market for Six Months – What Should I Do?
