The 3 Biggest Mistakes Sellers Are Making Right Now

To successfully sell your house, it’s essential to have the right strategies and realistic expectations. However, many sellers haven’t adapted to the current market conditions. They’re overlooking the fact that there are more homes on the market and that buyers are becoming more cautious with their budgets. As a result, these sellers are making costly missteps.

Here’s a quick overview of the 3 most common mistakes sellers are making and how working with an expert agent can help you avoid all of them.

1. Pricing the Home Too High

A survey by John Burns Real Estate Consulting (JBREC) and Keeping Current Matters (KCM) found that real estate agents agree the biggest challenge sellers face right now is pricing their home correctly (see graph below):

More often than not, homeowners end up overpricing their listings. If you’re not fully aware of what’s happening in your local market, you might be tempted to set a higher price to give yourself more room for negotiation. However, this is a mistake you want to avoid.

Today’s buyers are more cautious because of higher rates and tighter budgets, and a price that feels too high will drive them away. If no one’s showing interest in your home, how can it possibly sell? This is exactly why many sellers are having to lower their prices.

To steer clear of this issue, rely on your agent’s expertise from the start. A skilled agent can provide insight into what your neighbor’s home recently sold for and how it affects your property’s value.

 

2. Skipping Repairs

Another common mistake is neglecting to address maintenance issues around the house. While a leaky faucet or squeaky door might not bother you, buyers could see these small flaws as red flags. They may worry these minor problems signal larger issues, which could lead to lower offers or requests for concessions. As Investopedia puts it:

“Sellers who do not clean and stage their homes throw money down the drain. . . Failing to do these things can reduce your sales price and may also prevent you from getting a sale at all. If you haven’t attended to minor issues, such as a broken doorknob or dripping faucet, a potential buyer may wonder whether the house has larger, costlier issues that haven’t been addressed either.”

The solution? Work with your agent to prioritize anything you’ll need to tackle before the photographer comes in. These minor upgrades can pay off big when it’s time to sell.

 

3. Refusing To Negotiate

Buyers today are feeling the strain of high home prices and mortgage rates. With affordability so limited, their offers may come in lower than you’d like. Don’t take it personally. Instead, keep your focus on the ultimate goal: selling your house. Your agent can guide you through negotiations with confidence, helping you avoid letting emotions affect your decisions.

With more homes available on the market, buyers now have more options—and that gives them more negotiating power. They might request repairs, closing cost assistance, or other concessions. Be ready for these discussions and rely on your agent for guidance. Often, a small compromise can help close the deal without impacting your bottom line. As U.S. News Real Estate puts it:

“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.”

The Biggest Mistake of All? Not Working with a Real Estate Agent
Notice a pattern? For each of these mistakes, teaming up with an agent helps you avoid them from the start. That’s why attempting to sell your home without an agent is the biggest mistake of all.

Bottom Line

Steer clear of these common mistakes by starting with a solid plan—and the right agent. Let’s connect to make sure you avoid these pitfalls.