#1 Setting the price too high. Not only will you get fewer offers, but buyers may think something is wrong with your property when you lower your price. Get an appraisal or do a Comparative Market Appraisal (CMA), then set your asking price accordingly.
#2 Waiting for a market change. No one can predict when the housing market will turn, and you risk a deeper decline by waiting. Unless you have the luxury of years, don’t wait to put your home on the market. You can always reject any offer that’s too low.
#3 Selling as-is. You don’t have to pour money into renovating, but visible damages can make buyers wonder about hidden problems with your home. Make necessary repairs, update the fixtures, and give your home a general spruce up before you list it.
#4 Overdoing renovations. While you shouldn’t sell your house as-is, you also shouldn’t go overboard on improvements. Even the most desirable updates only yield a 70-80% return, and dramatic renovations don’t result in a dramatically higher selling price.
#5 Using a poor photo. Since most home are listed online, pictures give buyers their first look at your home. Pixilated or black-and-white photos make bad first impressions, so use only high-quality, high-resolution photos that show your house to its best advantage.
#6 Stretching the truth. It may seem creative to call your den a third bedroom, but taking liberties in your ad is a bad idea. You run the risk of alienating real buyers who want to see what your house has to offer.
#7 Being unavailable. In today’s market, waiting even a day or two to return a potential buyer’s phone call can mean a missed opportunity. Make sure buyers can reach you, both by phone and in person, to ask questions, set up appointments, and view your house.
#8 Hovering over buyers. Crowding potential buyers while they view your home will make them feel uncomfortable and rushed. Let them know you’ll wait on the porch to answer any questions, and make sure to give them some space.
#9 Accepting offers from unqualified buyers. If a buyer can’t afford your home, you could waste time – and miss other offers – while they try to get financing. Save yourself the headache and only deal with prequalified or preapproved buyers.
#10 Rejecting early offers. Negotiating with an existing interested buyer is always smarter than waiting to see if something better comes along.