3 Mistakes to Avoid When Selling a Home in 2020

It’s exciting to put a house on the market and to think about making
new memories in new spaces, but we can have deep sentimental
attachments to the homes we’re leaving behind, too. Growing emotions
can help or hinder a sale, depending on how we manage them.

When it comes to the bottom line, homeowners need to know what it
takes to avoid costly mistakes. Being mindful of these things and
prepared for the process can help you avoid some of the most common
mishaps when selling your house.

1. Overpricing Your Home

When inventory is low, like it is in the current market, it’s common
to think buyers will pay whatever we ask for when we price our homes.
Believe it or not, that’s far from the truth. Don’t forget that the
buyer’s bank will send an appraisal to determine the fair value for
your home. The bank will not lend more than what the house is worth,
so be mindful that you might need to renegotiate the price after the
appraisal. A real estate professional will help you to set the true
value of your home.

2. Letting Your Emotions Interfere with the Sale

Today, most homeowners have been living in their houses for an average
of 10 years (as shown in the graph below):This is several years longer
than what used to be the norm, since many homeowners have been
recouping from negative equity situations over the past 10 years. The
side effect, however, is when you live for so long in one place, you
may get even more emotionally attached to your space. If it’s the
first home you bought after you got married or the house where your
children grew up, it very likely means something extra special to you.
Every room has memories and it’s hard to detach from the sentimental
value.

For some homeowners, that makes it even harder to negotiate,
separating the emotional value of the home from the fair market price.
That’s why you need a real estate professional to help you with the
negotiations in the process.

3. Not Staging Your Home

We’re generally quite proud of our décor and how we’ve customized our
houses to make them our own personalized homes, but not all buyers
will feel the same way about your design. That’s why it’s so important
to make sure you stage your home with the buyer in mind. Buyers want
to envision themselves in the space, so it truly feels like their own.
They need to see themselves in the space with their furniture and
keepsakes – not your pictures and decorations. Stage and declutter
your home so they can visualize their own dreams as they walk through
your house. A real estate professional can help you with tips to get
your home ready to stage and sell.

Bottom Line

Today’s seller’s market might be your best chance to make a move. If
you’re considering selling your house, let’s get together to help you
navigate through the process while avoiding common seller mistakes.