01 Jun 10 Mistakes For Sale By Owners Make | Volume 2

Hello there savvy sellers! Have you found yourself feeling lost, at times, as you walk through the for sale by owner forest? Just like a big camping trip, selling your home takes a lot of prep plus the right knowledge to avoid getting lost in the woods so you can make it out alive. Today, we’re exploring Volume 2 of the top 10 mistakes that frugal folks selling their homes often make and as always, we also threw in a bonus! 

11. Limiting Showings

Imagine selling lemonade but only opening your stand one hour a day. Limiting showings is much the same; it drastically reduces your chances of finding a buyer. Be flexible! The more people that walk through your door, the higher the chances of receiving an offer. If you want to sell that home, make it accessible.

12. Keeping Clutter

Clutter doesn’t just hide your home’s charm; it screams a lack of space and maintenance. Before listing, declutter ruthlessly. Transform your space into a clean, welcoming environment where buyers can easily envision their new life. Remember, less is often more—more space, more appeal, and more potential for a sale.

13. Skimping on Staging

Staging is like dressing up for a job interview; it puts your home’s best foot forward. It’s not about fancy decorations but about highlighting your home’s strengths and softening its flaws. Professional staging can seem pricey, but it often pays off by speeding up the sale and getting better offers.

14. Not Comprehending Contracts

It’s all fun and games until someone signs a contract they don’t understand. Real estate contracts are binding and complex. Misunderstandings can lead to serious legal problems. If legalese isn’t your native tongue, consider hiring a professional to review all documents before you sign anything.

15. Downplaying Major Repairs

Covering up significant issues or pretending they don’t exist is not only unethical—it’s illegal in many areas. Be upfront about problems like leaks or structural issues. Better yet, fix them before you list. This honesty can prevent legal battles and give buyers confidence in your integrity.

16. Poorly Fixed Repairs

If you decide to fix problems, do it right. Cutting corners on repairs can backfire spectacularly. Shoddy work will be uncovered during the buyer’s inspection, potentially derailing your sale. Invest in quality repairs to avoid a mountain of trouble during negotiation.

17. Staging Costs

While staging is beneficial, blowing your budget on overly expensive staging services is a common pitfall. Set a budget that reflects the expected return on investment. Sometimes, simple changes like rearranging furniture or adding some plants can be just as effective as a pricey overhaul.

18. Home Inspection Surprises

A pre-sale home inspection can unearth problems you weren’t even aware of. This isn’t just about fixing them—it’s about not being caught off guard. Knowledge is power, especially in negotiations. Understanding your home’s condition allows you to price appropriately and negotiate wisely

19. Seller Concessions

Trying to sweeten the deal for buyers with concessions can be tempting, especially if you’re in a hurry to sell. However, excessive concessions can eat into your profits. Be strategic; use concessions to close the deal when it makes financial sense, not as a default strategy.

20. Expecting $0 Home-Selling Costs

Thinking selling your home will cost you nothing is like expecting a free lunch. There are always costs involved, from marketing to legal fees. Budget for these expenses to avoid unpleasant financial surprises down the line.

21. Ignoring the Importance of Curb Appeal

First impressions are crucial, and your home’s exterior is the first thing buyers see. Ignoring curb appeal can deter potential buyers from even stepping inside. Invest in basic landscaping, clean up the yard, and ensure your home’s exterior looks inviting and well-maintained.

Bonus Mistake: Thinking Negatively

Selling your home can be stressful, and it’s easy to fall into a pit of negativity, especially if things don’t move as quickly as you’d hoped. Stay positive and proactive. A good attitude won’t just make the process more bearable; it may even make your home more sellable.

Second Bonus Mistake: Attending to Active Time Wasters

Time is money, especially in real estate. Don’t waste your efforts on buyers who aren’t serious. Learn to recognize the signs of a genuine buyer versus someone merely touring homes for fun. Focus your energy on real prospects to streamline your selling process.

The Path to Success is Paved with Preparation

Alas, we’ve reached the end of our journey through the For Sale by Owner forest. Selling your home by yourself doesn’t have to feel like finding your way through uncharted territory. Think of this guide as your trusty compass or that cool multi-tool gadget that never leaves your pocket. Arm yourself with the right knowledge, sidestep these common pitfalls, and you’ll pave a clear path to success. If you keep your compass pointed towards preparation you’ll find selling your home can be as rewarding as it is profitable. As you move forward to your next big adventure—whether it’s another sale, a new home, or a well-earned break—carry these lessons with you and know that Desi and Gabe are always one phone call away!