The housing market is going through a transition right now. And sellers who aren’t working with an agent may not realize that.

Here’s the downside. If you’re not informed, you can’t adjust your strategy or expectations to today’s market. And that can lead to a number of costly mistakes. Here’s a look at some of the most common ones – and how an agent will help you avoid them.

1. Overpricing Your House

Many sellers set their asking price too high and that’s why there’s an uptick in homes with price reductions today. An unrealistic price will deter potential buyers, can cause an appraisal issue, or lead to your home sitting on the market longer. An article from the National Association of Realtors (NAR), explains:

“Some sellers are pricing their homes higher than ever just because they can, but this may drive away serious buyers and result in unapproved appraisals . . .”

To avoid falling into this trap, partner with a pro. An agent uses recent sales of similar homes, the condition of your house, local market trends, and so much more to find the price that’ll attract more buyers and open the door for multiple offers and a faster sale.

2. Skipping the Small Stuff

You may try to skip important repairs, thinking you can pass the task on to your buyer. But visible issues (even if they’re small) can turn off potential buyers and result in lower offers or demands for concessions. As Money Talks News says:

“Home shoppers like to turn on lights, flush toilets and run the water. If these basic things don’t work, they may assume you’ve skipped other maintenance. Homes that appear neglected aren’t likely to fetch top price.”

If you want to get your house ready to sell, the best place to turn to for advice is your agent. A great agent will be able to do a walk through with you and point out anything you’ll want to tackle before the photographer comes in.

3. Being Unwilling To Negotiate

The supply of homes for sale has grown. That means buyers have more options, and with that comes more negotiation power. As a seller, you may see more of today’s buyers getting an inspection, requesting repairs, or asking for help with closing costs. You need to be prepared to have those conversations. U.S. News Real Estate explains:

“If you've received an offer for your house that isn't quite what you'd hoped it would be, expect to negotiate. . . the only way to come to a successful deal is to make sure the buyer also feels like he or she benefits. . . consider offering to cover some of the buyer's closing costs or agree to a credit for a minor repair the inspector found.”

An agent will walk you through what levers you may want to pull based on your own goals, budget, and timeframe.

4. Not Using a Real Estate Agent

Notice anything? For each of these mistakes, partnering with an agent helps prevent them from happening in the first place. That makes trying to sell a house without an agent’s help the biggest mistake of all.

Real estate agents have experience and expertise in pricing, marketing, negotiating, and more. That knowledge streamlines the selling process and usually results in drumming up more interest that can ultimately get you a higher final price.

Bottom Line

If you want to avoid making costly mistakes like these, let’s chat and make sure you’re set up for success.