Selling a house can be stressful. After all, it’s one of the biggest purchases (or investments) that most of us will make in our lifetime. Not only that, but homes can also hold a sentimental value. Those emotions can contribute to making mistakes that ultimately cost you money. On top of that, moving from one place to another is hugely stressful for most people. For these reasons (and more), it’s important to make smart decisions when selling your house. Otherwise, you’ll end up making costly mistakes.
Even experienced homeowners are prone to making errors when going through the sales process. Considering that the average house price in the U.S. today is more than $300,000 (and counting), these mistakes can add-up. The higher the value of the house, the more expensive any potential mistakes will be. In this article, we’ll talk about common mistakes that people make when selling a house — and how to avoid them.
12. Using The Wrong Sales Approach
Taking the right approach to selling a house is very important. Those who are organized, disciplined, and have some business sense might want to sell their house on their own. After all, those real estate commissions can get quite large. However, if you’re not an astute record keeper or have little experience in the real estate market, you’re probably better off using a real estate agent. The good news is that commissions are often negotiable. With housing prices exploding, many agents now offer a flat fee instead of the typical 5%.
You can often shop around for a real estate agent, like you would any other product or service. You may find them rushing to offer 4.5%, or 3.5%, or even lower, in order to secure your business. Be honest with yourself, though. If you are confident you can sell the house yourself (and keep the commission), then go ahead. There are some companies who specialize in helping with this. Otherwise, go ahead and use a professional. Many people who try to tell their home themselves end up regretting the decision.