Common seller mistakes like overpricing can sabotage your home sale.

According to an article from Keeping Current Matters, there are five common seller mistakes that you should avoid in today’s real estate market. Inventory is increasing in certain cities, including the Twin Cities and interest rates are holding steady, although we have seen some drops and closed homes with buyers in the low sixes, which is exciting and good news for people planning to purchase.

However, even though sellers are still somewhat in control of pricing, there are still homes sitting on the market. If you’re one of those homeowners wondering why your house isn’t selling, it’s time to reevaluate and check whether you’re committing these five seller mistakes.

1. Overpricing. This is the biggest mistake sellers are making right now. Overpricing your home will only cause it to sit on the market longer, potentially turning buyers away. Buyers are more thoughtful about purchasing homes, ensuring they’re accurately priced based on comps and factors like location and condition.
2. Skipping the small stuff. Buyers today expect a move-in-ready home, especially if they are willing to pay a premium. Don’t neglect minor repairs or updates. Addressing minor and major issues in your home can make a big difference in attracting potential buyers.

“Remember that the market dictates the value of your home, not just your desired price.”

3. Not being objective. Put yourself in the buyer’s shoes. With higher interest rates, affordability is a major concern holding buyers back. In fact, 40% of first-time buyers believe they will never be able to afford a home.

4. Refusing to negotiate. Flexibility is important in today’s market. Be ready to negotiate on price and terms to attract serious buyers. Remember that the market dictates the value of your home, not just your desired price.

5. Not hiring a professional. Selling a home is a complicated process. While you can try to sell your home on your own, it’s best to hire an experienced real estate professional who knows your local market. If they’re new, ensure they have someone backing them up and are working with a good broker.
By avoiding these common mistakes and working with a Realtor, you can increase your chances of selling your house quickly and for top dollar. If you have questions, please feel free to contact us at (612) 961-9448 or Mark@MarkCallenderHomes.com. I’m looking forward to working with you.