The Biggest Mistakes Sellers Are Making Right Now

<article class="post-1139456 post type-post status-publish format-standard has-post-thumbnail hentry" id="post-1139456"><span class="entry-date">July 30, 2024</span><div class="entry-header center-block text-center"><h1 class="entry-title">The Biggest Mistakes Sellers Are Making Right Now</h1><div class="shareBlock"><div class="shareTitle">Share</div><div class="shareIcons"><a aria-label="Twitter Share Link" class="twitter solid display-inline-block" data-tracking="Post,Social Post Link Clicked,Twitter" href="http://twitter.com/share?text=The+Biggest+Mistakes+Sellers+Are+Making+Right+Now&amp;url=https%3A%2F%2Fgilliggroup.com%2Fblog%2Fthe-biggest-mistakes-sellers-are-making-right-now%2F" target="_blank"><span class="force-hidden">Twitter</span></a>
<div class="fb-share-button display-inline-block" data-href="https://gilliggroup.com/blog/the-biggest-mistakes-sellers-are-making-right-now/" data-layout="" data-size=""><a class="facebook solid fb-xfbml-parse-ignore" data-tracking="Post,Social Post Link Clicked,Twitter" href="https://www.facebook.com/sharer/sharer.php?u=https%3A%2F%2Fgilliggroup.com%2Fblog%2Fthe-biggest-mistakes-sellers-are-making-right-now%2F&amp;src=sdkpreparse" target="_blank"><span class="force-hidden">Facebook</span></a></div>
<a class="pinterest solid display-inline-block" count-layout="horizontal" href="https://pinterest.com/pin/create/link/?url=https%3A%2F%2Fgilliggroup.com%2Fblog%2Fthe-biggest-mistakes-sellers-are-making-right-now%2F&amp;description=The+Biggest+Mistakes+Sellers+Are+Making+Right+Now" target="_blank"><span class="force-hidden">Pinterest</span></a>
<a class="linkedin solid display-inline-block" href="https://www.linkedin.com/shareArticle?mini=true&amp;url=https://gilliggroup.com/blog/the-biggest-mistakes-sellers-are-making-right-now/?shareSlug%3Dthe-biggest-mistakes-sellers-are-making-right-now" target="_blank"><span class="force-hidden">LinkedIn</span></a>
<a class="email dashicons dashicons-email solid display-inline-block" href="mailto:?subject=From gilliggroup.com: The Biggest Mistakes Sellers Are Making Right Now&amp;body=The Biggest Mistakes Sellers Are Making Right Now%0D%0Dhttps://gilliggroup.com/blog/the-biggest-mistakes-sellers-are-making-right-now/" target="_blank"><span class="force-hidden">Email</span></a>
</div></div><div class="post-tax post-category"><span></span><a href="../category/realtor-blog/index.html" rel="tag">Realtor Blog</a></div><div class="post-tax post-post_tag"></div></div><div class="entry-content"><div><img alt="The Biggest Mistakes Sellers Are Making Right Now Simplifying The Market" decoding="async" loading="lazy" src="https://media.agentaprd.com/sites/222/20240730-The-Biggest-Mistakes-Sellers-Are-Making-Right-Now-original.webp" style="display: block; margin-bottom: 5px; clear: both; max-width: 100%;" width=""/>
<p>The <a href="https://www.simplifyingthemarket.com/2024/06/28/housing-market-forecast-for-the-2nd-half-of-2024-infographic/?a=712984-fa409495d5d70154d03a25e81e9540e2" rel="noopener noreferrer" target="_blank">housing market</a> is going through <a href="https://www.simplifyingthemarket.com/2024/7/18/unlocking-homebuyer-opportunities-in-2024/?a=712984-fa409495d5d70154d03a25e81e9540e2" rel="noopener noreferrer" target="_blank">a transition</a>. Higher <a href="https://www.simplifyingthemarket.com/2024/06/18/worried-about-mortgage-rates-control-the-controllables/?a=712984-fa409495d5d70154d03a25e81e9540e2" rel="noopener noreferrer" target="_blank">mortgage rates</a> are causing more moderate buyer activity at the same time the supply of homes for sale is growing.</p>
<p>And if you aren’t working with an agent, you may not realize that. Here’s the downside. If you’re not informed, you can’t adjust your strategy or expectations to today’s market. And that can lead to a number of costly mistakes.</p>
<p>Here’s a look at some of the most common ones – and how an agent will help you avoid them <a href="https://www.simplifyingthemarket.com/2024/05/23/questions-you-may-have-about-selling-your-house/?a=712984-fa409495d5d70154d03a25e81e9540e2" rel="noopener noreferrer" target="_blank">when you sell</a>. </p>
<h4><strong>1. Overpricing Your House</strong></h4>
<p>Many sellers set their <a href="https://www.simplifyingthemarket.com/2024/07/09/why-your-asking-price-matters-even-more-right-now/?a=712984-fa409495d5d70154d03a25e81e9540e2" rel="noopener noreferrer" target="_blank">asking price</a> too high and that’s why there’s an uptick in homes with <a href="https://www.simplifyingthemarket.com/2024/06/12/home-prices-arent-declining-but-headlines-might-make-you-think-they-are/?a=712984-fa409495d5d70154d03a25e81e9540e2" rel="noopener noreferrer" target="_blank">price reductions</a> today. An unrealistic price will deter potential buyers, cause an appraisal issue, or lead to your house sitting on the market <a href="https://www.simplifyingthemarket.com/2024/06/25/how-long-will-it-take-to-sell-my-house/?a=712984-fa409495d5d70154d03a25e81e9540e2" rel="noopener noreferrer" target="_blank">longer</a>. An article from the <em>National Association of Realtors</em> (NAR)<em> </em><a href="https://www.nar.realtor/determining-asking-price" rel="noopener noreferrer" target="_blank">explains</a>:</p>
<blockquote><p><em>“Some sellers are pricing their homes higher than ever just because they can, but this may drive away serious buyers and result in unapproved appraisals . . .”</em></p></blockquote>
<p>To avoid falling into this trap, partner with a pro. An agent uses recent sales of similar homes, the condition of your house, local market trends, and so much more to find the price that’ll attract more buyers and open the door for multiple offers and a faster sale.</p>
<h4><strong>2. Skipping the Small Stuff</strong></h4>
<p>You may try to skip important <a href="https://www.simplifyingthemarket.com/2024/7/17/why-fixing-up-your-house-can-help-it-sell-faster/?a=712984-fa409495d5d70154d03a25e81e9540e2" rel="noopener noreferrer" target="_blank">repairs</a>, thinking you can pass the task on to your buyer. But visible issues (even if they’re small) can turn off potential buyers and result in lower offers or demands for concessions. As <em>Money Talks News</em> says:</p>
<blockquote><p><em>“Home shoppers like to turn on lights, flush toilets and run the water. If these basic things don’t work, they may assume you’ve skipped other maintenance. Homes that appear neglected aren’t likely to fetch top price.”</em></p></blockquote>
<p>If you want to get your house ready to sell, the best place to turn to for advice is your <a href="https://www.simplifyingthemarket.com/2024/07/15/why-working-with-a-real-estate-professional-is-crucial-right-now/?a=712984-fa409495d5d70154d03a25e81e9540e2" rel="noopener noreferrer" target="_blank">agent</a>. They’ll be able to do a walk-through with you and point out anything you’ll need to tackle before the photographer comes in.</p>
<h4><strong>3. Not Looking at Things Objectively</strong></h4>
<p>Buyers today are feeling the pinch of high home prices and mortgage rates. With affordability that tight, they may come in with an offer that’s lower than you’d want to see – especially if you didn’t stage, price, or <a href="https://www.simplifyingthemarket.com/2024/05/29/how-an-agent-helps-market-your-house/?a=712984-fa409495d5d70154d03a25e81e9540e2" rel="noopener noreferrer" target="_blank">market the house</a> well.</p>
<p>It’s important you don’t take this personally. Getting overly emotional can put the sale at risk. As an article from <em>Ramsey Solutions</em> says:</p>
<blockquote><p><em>“Remember, a buyer’s offer is not a reflection of their opinion of your home or your housekeeping abilities. . . The sale of your home is strictly a business transaction. If they start out with a low offer, don’t take it personally and get emotional. Instead, channel that energy toward negotiating. Work with your agent and make a counteroffer.”</em></p></blockquote>
<h4><strong>4. Being Unwilling To Negotiate</strong></h4>
<p>The <a href="https://www.simplifyingthemarket.com/2024/05/16/the-number-of-homes-for-sale-is-increasing/?a=712984-fa409495d5d70154d03a25e81e9540e2" rel="noopener noreferrer" target="_blank">supply of homes</a> for sale has grown. That means buyers have more options, and with that comes more negotiation power. As a seller, you may see more buyers getting an inspection, requesting repairs, or asking for help with closing costs today. You need to be prepared to have those conversations. As <em>U.S. News</em> <em>Real Estate</em> explains:</p>
<blockquote><p><em>“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 . . . consider offering to cover some of the buyer’s closing costs or agree to a credit for a minor repair the inspector found.”</em></p></blockquote>
<p>An agent will walk you through what levers you may want to pull based on your own goals, budget, and timeframe.</p>
<h4><strong>5. Not Using a Real Estate Agent</strong></h4>
<p>Notice anything? For each of these mistakes, partnering with an agent helps prevent them from happening in the first place. That makes trying to sell your house without an agent’s help the <a href="https://www.simplifyingthemarket.com/2024/06/21/the-downsides-of-selling-your-house-without-an-agent/?a=712984-fa409495d5d70154d03a25e81e9540e2" rel="noopener noreferrer" target="_blank">biggest mistake</a> of all.</p>
<p><a href="https://www.simplifyingthemarket.com/2024/05/14/thinking-of-selling-you-want-an-agent-with-these-skills/?a=712984-fa409495d5d70154d03a25e81e9540e2" rel="noopener noreferrer" target="_blank">Real estate agents</a> have experience and expertise in pricing, marketing, negotiating, and more. That knowledge streamlines the selling process and usually results in drumming up more interest and ultimately can get you a higher final price.</p>
<h3>Bottom Line</h3>
<p>If you want to avoid making mistakes like these, you need to work with a real estate agent.</p>
</div>
</div></article>