There could be a good reason your home is struggling to catch a buyer. Maybe you have the best home on the block, which is always a tough sell, or maybe the market is slow right now. There could be plenty of valid reasons, but it could also be sitting because of a rookie selling mistake. We can all make them, even those of us who have gone through the home sale process before. Luckily, many of those mistakes can be corrected or avoided all together. This article will shine some light on the top 8 common selling mistakes that keep your home from selling, and you can click this link to read the full article.
Rookie mistake No. 1: Overpricing your home
All sellers want to get top dollar for their house. Unfortunately, says Julie McDonough, a real estate agent in Southern California, “many people overestimate the value of their home.” For example, she says, “if a neighbor sells their house for $400,000, you might automatically assume that your house is worth at least that much money, but that’s not necessarily the case.”
“Price is typically the reason why a house doesn’t sell,” says Irvine, CA, real estate agent Benny Kang. And the last thing you want to do is list too high right from the start, because it could cause your house to sit on the market—which might require you to make a serious price reduction in order to sell it.
“If a home is on the market for more than four weeks, prospective buyers are going to assume that there is something wrong with it,” says Kang.
Your best approach: Listen to your agent’s listing price recommendation, and try not to get too emotional if your agent’s suggestion isn’t as high as you’d hoped.
Rookie mistake No. 2: Not budging on price
Even if the price is right, you might need to be flexible—especially if you’re in a buyer’s market. So, if you receive an offer that’s below list price, you should at least consider making a counteroffer. After all, receiving $5,000 or $10,000 less for your house than what you wanted is a small concession in the long term.