6 Mistakes to Avoid as a First-Time Home Seller

Selling your property for the first time can be both exciting and nerve-wracking. Buying your first home is a big deal. It makes sense to be emotionally attached to your first home. As you prepare to sell your home, it's important to approach the process with an element of caution. These mistakes could make it harder to sell your home.

Being in a Rush

One of the most important parts of selling a property is preparing it for the market. This isn’t a fast process, and the more time you spend upfront getting your home in order, the more time you’ll save down the line.

Take your time to get everything done properly before listing your home. Start with a thorough spring clean, decluttering, and making any necessary repairs. Don’t underestimate how long this can take. If you need to get a professional tradesman or handyman in, make sure you have enough time for the repairs to be done. The last thing you want is to be delaying putting your home on the market as you wait for a tradesperson to become available or for a part to arrive from another store.

Not Hiring Professionals

First impressions matter, and professional photography plays a huge part in helping to sell your home. Listings with high-quality images tend to receive more views and attention from potential buyers. Invest in professional photography to present your home in the best possible way. This not only helps with online listings but also allows you to market your property through print and digital media.

Real estate agents offer these services, however, it’s also a good idea to opt for any extra services they may offer like a drone video of your house or printed pamphlets to help get the word out.

Not Spreading the Word

Selling your property is dependent on attracting as many potential buyers as possible. Make sure your real estate agent has a marketing strategy in place, and don’t be afraid of switching real estate agents if you feel like your property has been on the market for a while.

Your estate agent should be listing your property in local magazines, newspapers, and online real estate websites as well as sharing it on social media. In the 2023 market, homes are no longer selling as quickly as they once were. Real estate agents should also be reaching out to potential sellers and using their network to sell your home.

Don't underestimate the power of your own network. Share your property's listing on your facebook account and encourage friends and family to do the same. Word-of-mouth can be a powerful tool in finding the right buyer.

Setting an Unrealistic Asking Price

Pricing your home correctly is important for attracting serious buyers. Putting too high a price on a property can turn off potential purchasers who might not even inquire about your property. If you bought your home in the last few years, it’s understandable that you may want to hold out for a higher asking price. If you bought five to ten years ago, try not to hold out for a particular number. Selling a home for more than you paid for it is always a win, especially if it brought you many years of memories and joy.

Stay informed about the market and chat with your real estate agent regularly so that you have a good idea of what other properties are selling for. Serious buyers tend to research and visit numerous properties, making them experts on what's available at a particular price range. Work with your agent to set a realistic asking price that aligns with the current market.

Not Making Your Home Appealing to A Buyer

Before you sell, walk through your home and try to imagine it from the point of view of a buyer. When potential buyers visit your property, they want to imagine themselves living there. While it can be difficult, especially if you’ve been in your home for a while, consider putting away some more personal items on display.

Ideally, you want potential buyers to imagine themselves living in your home, and lots of clutter, personal photos and items can distract from the bigger picture.

Creating an inviting but neutral environment can help increase the appeal of your home to potential buyers.

Overspending on Pre-Sale Repairs and Renovations

While making repairs to your home is important, be careful about how much you spend on renovations before you sell. Not all renovations are worth the money, and you should be careful about doing up a home that you’re not going to get to enjoy living in. Focus on fixing minor issues and attending to maintenance tasks rather than undergoing costly upgrades. Consult with your real estate agent about which repairs are necessary to increase the property's value within your budget.

Selling your first home can be an emotional journey, but avoiding these common mistakes will help make the sale of your first home a success.