How to Avoid the Worst Pricing Mistakes When Selling Your Property

Real estate prices are on the rise – really on the rise – for the first time since the housing market crash of 2007. According to the 2014 Trulia Price / Rent Monitor, urban homes prices were rising only slightly faster than suburban prices. Overall, 97 of the 100 biggest metros are growing, and charging more for every new apartment that’s built.

So with this new economic boom, you may be wondering if it’s time to cash in on that fixer you bought back in 1997. Now that it’s a beautifully remodeled craftsman, with a spiral staircase you built from salvaged driftwood and a chandelier you whittled from quartz you mined in Argentina. Every time you look at your home, you see dollar signs.

And, of course, you’ve spent years as a homeowner. You know how to refinance your home, and put a down payment on a home. This is just the next logical step. So… what’s to stop you from selling?

Well, nothing, actually.  However, before you put your house on the market, make sure you avoid the most common mistakes that home sellers typically make.

DIY Your Home Sale

Yes, you’ve turned that fixer into a gorgeous craftsman; but please don’t fool yourself into thinking you can be your own contractor, plumber, roofer, and real estate agent. Make sure you find a reputable professional to help you sell your home; don’t try to do it yourself. Without a real estate agent, home owners who try to sell by themselves often never sell at all.

Guessing what Your Asking Price Should Be

Do your research, not only on your own home but on your local real estate market as well.  Make sure you have your home assessed before pricing so you know exactly what it’s worth. A home that is mispriced is much less likely to sell than a home that is priced competitively for your market and your neighborhood. Do your research. It’s more legwork, but in the end, you will be grateful for it.

Ignore Areas that Need Repair

Stop neglecting that leaky roof and the squeaky doors. Before you sell your home, make sure you fix the things that need fixing! A potential buyer will become quickly disgruntled when their snooping reveals a nasty mildew stain you never dealt with. Once again, do the work! That place on your wall that your kid colored on? Scrub it off and paint over it. Replace that cracked window – the one that broke when you attempted to show off your amateur baseball skills.

Leaving Clutter and Personal Effects Out During Showings

Do your best to stage your home in a way that wows potential buyers. A lived-in look is fine – unless your idea of “lived in” means clutter and chaos scattered throughout the living room. Make the place look homey, but be sure to organize and beautify. You may think your battered kitchen table and mismatched chair are cute; but a buyer probably won’t feel the same way. They want you to sell them a house that feels new, full of possibility, ready for a new owner. They don’t want to wade through a decade’s worth of your junk.

Don’t be afraid to sell your home. The market is right for it! Just don’t make any of the rookie mistakes that may cost you a sale.