If you are here, it probably means you are looking to sell your home. If you have not already noticed, the selling process is full of mixed emotions. One of these emotions you might be feeling is stress. And we understand why! There are some nuances and logistics to the selling process that may be unfamiliar to new sellers. At Gateway Realty, we are here to help. Below, we offer three commons mistakes to avoid as a novice home seller.
Creating Impractical Price Expectations
One of the biggest mistakes of sellers is having unrealistic expectations when it comes to the price of the house. If you do not follow the housing market, trends, and benchmark neighborhoods, it can be difficult to gauge how much your house is actually worth. With new sellers especially, there is a tendency to list an asking price for much more than the home’s actual value. This not only elongates the property’s time on the market, but it can make the home less competitive down the road. At Gateway Realty in Twin Falls, Idaho, our agents understand the intricacies of the housing market, are up-to-date on housing trends, and keep tabs up-and-coming neighborhoods to ensure your asking price walks the fine line of competitive and practical.
Agreeing to the Highest Offer
Another mistake people make is accepting the highest offer. This might seem counterintuitive. After all, you want your home to sell for as much money as possible, right? Absolutely! The problem is that not all offers are reliable. Buyers sometimes put out large offers to eliminate competition. However, these can fall through based on financing, appraisals, and other reasons. In short, receiving a bid that is reliable is just as important as a bid that is close to your asking price.
Selling Your Own Home
If you are like many others in the selling journey, you may have considered trying to sell your home by yourself. This is called a “for sale by owner,” or FSBO. We understand the appeal. It cuts Realtor costs and could alleviate the headache of involving more people into the process. And with this being a seller’s market, it’s a win-win, right? Maybe not so much. There is a lot more that goes into selling a home than just finding interested buyers. Finding a knowledgeable Realtor is an investment. This means you are getting information of the market, as well as someone to help you navigate the paperwork. At Gateway Real Estate, we know the ins and outs of the Idaho housing market. We have first class Realtors who are eager and ready to assist in the selling process.