7 Common Mistakes Made By NJ MLS Home Sellers and How to Avoid Them

Advice on what not to do when your home is for sale in the NJ MLS Search

Selling a home is an experience many homeowners dread perhaps because they know that with such an important investment, one error or wrong decision can cost tens of thousands and even jeopardize a sale. What many people are not aware of is that there is a simple way to avoid making the mistakes most commonly involved in selling a home. Actually, many homeowners make some of the same errors when selling their home, regardless of how many homes they have sold in past years. Sometimes these slip-ups can only make the process of selling more difficult for everyone involved or even cause the sale to be terminated. By understanding these mistakes, home sellers can arm themselves with information and gain a better chance of achieving a profitable sale.

The following are the 7 most frequent errors made by home sellers, according to leading NJ MLS Realtors:

Hiring the wrong Realtor

Most often, people hire a friend or family member as their agent when in fact they should be choosing the most successful agent with the most experience in their area with the best track record. Successful agents in the NJ Real Estate industry have many contacts with buyers and know the market in and out. In addition, it is also important to let the agent do his or her job without telling them how to do so. If you have chosen the right person for the job, you will have a valuable team member on your side that cannot only protect your best interests, but help you make your sale as profitable as possible.

Limiting accessibility to the home

Prospective buyers should be able to view a home when it is convenient for them, not when it is necessarily convenient for the seller. Because of this, most Realtors suggest using a lockbox for the property when it is for sale in the NJ MLS search to maximize expediency for everyone involved.

Pricing the home incorrectly

The biggest factor in whether a home will sell quickly or remain on the market for a long period of time lies in how well the home is priced. Many new homes on the market and in the NJ MLS search do not sell quickly because of inadequate pricing. Conversely, a home that is priced too low can sell too fast, leaving the seller with less profit. It is pertinent that home sellers understand what is happening in the local real estate market and evaluate the true value of their homes based facts, not gut instinct or conventional wisdom.

Failing to disclose important property issues

Fortunately for homebuyers, sellers with homes in the NJ MLS search of today’s market are required to comply with property disclosure laws. Often, this includes issues sellers may not be aware of in the home such as mold as well as what they do know about the condition of the home. Homeowners ignoring disclosure laws and regulations can kill the sale of their home as well as potentially being sued.

Selling at the wrong time

Putting a home up for sale in the NJ MLS search hastily, also referred to as panic selling, is a result of poor planning up front and poor advice. By being made aware of all the ins and outs of selling prior to putting your home on the market as well as working hand-in-hand with the right real estate professional, you can make sure you do not settle for the first offer that comes along.

Forgoing minor cosmetic improvements

Many home sellers are reluctant to making minor cosmetic repairs such as repainting a boldly colored bedroom or installing new carpeting. By forgoing advice and suggestions from professionals such as Realtors, sellers can greatly increase the risk of their home not selling. First impressions are lasting, and spending as little as $1,000 on new carpeting can potentially have a $4,000 or more return at the time of closing.

Putting your home up for sale on your own

Many people that attempt to sell their homes themselves do so because they believe they can save money by not having to pay commission to an NJ real estate agent. However, many times those homeowners find that the true cost of selling a home themselves is found in the substantial amount of time and effort they must spend to do it or wind up paying even more money repairing a costly mistake that could have been avoided with proper guidance. Selling a home is a full-time job, and homeowners should make sure they are aware of all the pros and cons prior to attempting to do it themselves.

 

The Real Estate market is changing rapidly and expanding into new avenues almost daily. Sometimes it can be very difficult to find the answers you need on a specific topic or issue. In times like these, you need a Real Estate professional who will provide valuable information and trustworthy advice. For more information on NJ Real Estate, call us today or click here to be connected with one of our top Real Estate specialists.