If you’re planning to sell your home, having the right strategies and expectations is crucial. However, some sellers haven’t adjusted to today’s real estate landscape. With more homes on the market and buyers being extra selective due to budget constraints, missteps can be costly.
Here’s a rundown of the three biggest mistakes sellers are making—and how working with an expert real estate agent can help you avoid them.
1. Overpricing the Home
According to a survey by John Burns Real Estate Consulting (JBREC) and Keeping Current Matters (KCM), the #1 challenge sellers face today is setting the right price.
Many homeowners fall into the trap of overpricing their homes, thinking it allows room for negotiation. But in a market where buyers are cautious due to high mortgage rates and tight budgets, an overpriced listing can deter interest altogether. If buyers feel a home is out of reach, they may skip viewing it entirely—resulting in fewer showings and ultimately, price reductions.
Solution: Work with a knowledgeable real estate agent from the start. A great agent will analyze comparable home sales, assess market trends, and price your home strategically to attract serious buyers.
2. Ignoring Necessary Repairs
Sellers often assume minor issues—like a leaky faucet or chipped paint—won’t impact their home’s sale. But to buyers, small problems can signal bigger concerns, leading them to negotiate lower prices or request concessions. As Investopedia warns:
“Sellers who do not clean and stage their homes throw money down the drain. . . Failing to do these things can reduce your sales price and may also prevent you from getting a sale at all.”
Solution: Before listing, consult your agent to determine which repairs and upgrades will provide the best return. Even minor fixes, like tightening loose handles or freshening up paint, can enhance your home’s appeal and prevent buyers from second-guessing their offers.
3. Refusing to Negotiate
Today’s buyers are dealing with higher home prices and mortgage rates, meaning they often negotiate more aggressively. While it may be frustrating to receive a lower offer or requests for repairs, staying open to discussions is key to sealing the deal. With more homes on the market, buyers have choices—and they’re not afraid to walk away.
U.S. News Real Estate advises:
“If you’ve received an offer for your house that isn’t quite what you’d hoped it would be, expect to negotiate . . . the only way to come to a successful deal is to make sure the buyer also feels like he or she benefits.”
Solution: Work with your agent to navigate offers with a level head. A skilled negotiator will help you make smart compromises that protect your bottom line while keeping buyers engaged.
The Biggest Mistake of All? Selling Without an Agent
Notice a pattern? For each of these common mistakes, an experienced agent can help prevent costly missteps. Selling a home is a complex process that requires market knowledge, pricing strategy, and negotiation skills. Going it alone could mean leaving money on the table—or struggling to sell at all.
Bottom Line
Avoid these pitfalls by partnering with a professional real estate agent from day one. If you’re thinking about selling, let’s connect to create a strategy that ensures a smooth and profitable transaction.
