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15 Home Selling Mistakes

If you’re thinking about putting your home up for sale, there is a lot that can go right in this market, as buyers are out in droves and red-hot demand pushing prices upwards for those smart enough to list their homes. But before you get a big closing check in your bank account, you should consider that there are some things that can go wrong – and how to protect yourself from making those errors. Here are the 15 biggest mistakes you can make when selling your home. After reading this, you’ll be ready for a smooth, efficient transaction that gets you top dollar for your home! 


Mistake #1: Trying to sell your home by yourself

Without fail, there will be some homeowners who try to sell their homes, thinking it will save them money by not paying a Realtor. However, statistics prove this doesn’t work out in their favor, as the average For Sale By Owner home sold for $210,000, but the average home sold by a Realtor goes for $249,000 – a difference of $39,000, or 15.6% of the sale price! What’s more, FSBOs sit on market at least 19 days on market longer IF they sell at all, as 20% of FSBOs are taken off the market and relisted. With those facts in mind it’s no wonder 87% of homeowners choose to use a real estate agent to represent them, while the others keep making this costly mistake.


Mistake #2: Pricing your home unreasonably high

This is probably the most common selling mistake, though it’s perfectly understandable that everyone wants to get as much money for their home as possible. But homeowners would be wise to carefully consider the facts and statistics about the market and values of similar properties, not speculation or feelings. Remember that if a home doesn’t sell at all – or sits on market an unusually long time – it will cost the homeowner far more than they ever stood to make with an unreasonable price bump. The good news is that you can start with a listing price on the higher end of a reasonable spectrum to test the market, and lower it incrementally at designated points if it doesn’t sell or there aren’t enough showings. 


Mistake #3: Fixing up a property too much before listing

Of course you should make necessary repairs before listing your home, but sometimes, over-conscientious homeowners go too far and start undertaking extensive remodeling projects. Unless they are cosmetic fixes, these won’t even come close to paying for themselves when the house sells, costing you time and a lot of money. In fact, even the repairs that offer the best return on investment – exterior siding, a new front door, a new garage door, or a mid-range kitchen remodel – only yield about 70 cents for every dollar you spend. And many of repairs will only get you back 30 0r 40 cents for every dollar out of your pocket! It may seem like a fine line between sprucing up and fixing certain things compared to what repairs aren’t cost effective, but we can walk you through it and offer recommendations. 

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The Alfano Group | Compass
Anthony Alfano
5842 Lonetree Blvd.
Rocklin, CA
DRE# 01800462

Compass is a real estate broker licensed by the State of California and abides by Equal Housing Opportunity laws. License Number 01527235. All material presented herein is intended for informational purposes only and is compiled from sources deemed reliable but has not been verified. Changes in price, condition, sale or withdrawal may be made without notice. No statement is made as to the accuracy of any description. All measurements and square footage are approximate. If your property is currently listed for sale this is not a solicitation.
The real estate listing data marked with this icon comes from the IDX program of the Sacramento Metrolist Multiple Listing Serviceā„¢ system. Information deemed reliable, but not verified or guaranteed. Users are responsible for checking the accuracy, completeness, currency, and status of all information. All measurements and all calculations of area (i.e., Sq Ft and Acreage) are approximate. Broker has represented to MetroList that Broker has a valid listing signed by seller authorizing placement in the MLS. Above information is provided by Seller and/or other sources and has not been verified by Broker. Some properties that appear for sale on this web site may subsequently have been sold and may no longer be available. Copyright 2024 MetroList Services, Inc.
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