5 Mistakes to Avoid When Selling a House with an Agent in Olympia Washington

Selling a house traditionally is overwhelming. You need to tackle the right repairs for maximum return, carefully select a qualified agent, keep your home spotless for showings (even during holidays), negotiate effectively with buyers, and accommodate various inspections. Plus, you’ll need to handle unexpected repair demands and potential closing delays.

The entire process can be downright exhausting and stressful!

Beyond these challenges, avoiding the 5 critical mistakes we’ll outline below is essential to prevent complications, reduce time on market, and protect your final sales price.

Mistake #1: Selecting an agent based solely on their highest listing price estimate

Choosing an agent who promises the highest listing price could end up being your most expensive mistake.

Some agents will deliberately “buy your listing” by suggesting an unrealistically high price. To secure your business, they’ll price your home higher than other agents would, even knowing your property won’t sell at that price.

From their perspective, there’s no downside. They secure your home with a lengthy 6 or 7-month exclusive listing agreement, betting you’ll eventually lower the price so they can collect their commission.

They’ll reassure you with phrases like, “We’re just testing the market – you can always reduce the price later if needed.”

Any honest, experienced agent knows this approach is flawed. To sell your house at the best price in the shortest timeframe, correct pricing from day one is crucial. The first few weeks on market are your most valuable opportunity. When overpriced, potential buyers simply skip over your listing.

Even worse, savvy agents may use your overpriced house to make properly-priced properties look like bargains to their buyers. By comparison, your inflated listing helps other homes sell quickly while yours sits untouched. This tactic helps agents secure commissions – just not from your property.

An overpriced house inevitably sits on the market too long and risks getting what professionals call the “kiss of death” – a term you may not have heard before, but one that has very real consequences.

When a home lingers on the market, it becomes stigmatized. Buyers and agents assume something must be fundamentally wrong with your property – otherwise, it would have sold already.

Once your home gets this “kiss of death,” selling becomes nearly impossible without drastically cutting the price to overcome the negative perceptions that have formed in buyers’ and agents’ minds.

You’ll likely eventually sell, but typically at a significantly lower price than if you had priced it correctly from the beginning – defeating the purpose of the initial high listing.

Mistake #2: Failing to account for repair costs in your profit calculations

Unless your home is in perfect condition, always factor repair costs into your profit expectations. Even when selling “as-is,” these potential expenses should be subtracted from your anticipated proceeds.

When selling through traditional channels with an agent, you’ll attract traditional buyers – typically families planning to live in the home. Almost universally, these buyers purchase with mortgage financing.

This means your home must pass an appraisal inspection for your buyer to secure mortgage approval. Here’s where complications arise, especially if you planned to sell as-is to avoid repair expenses.

If an appraiser identifies significant repair, safety, or health issues, you’ll be required to address them regardless of your preferences. Refusing means your buyer won’t receive mortgage approval, forcing you to restart the entire sales process with a new buyer.

Mistake #3: Assuming you’ll find a qualified buyer immediately

Buyers sometimes make offers only to discover later they can’t secure financing. Others experience life changes or cold feet and withdraw from deals entirely.

Don’t assume you’ll find a buyer quickly and rush into purchasing another home. Commit to buying your next property only after securing a qualified buyer and confirming their mortgage approval is proceeding smoothly.

Mistake #4: Expecting a fast, seamless closing process

Save yourself unnecessary stress by building extra time into your future plans and transition schedule.

Remember that finding a buyer doesn’t guarantee a smooth closing process. Delays happen frequently and for numerous reasons beyond your control.

Mistake #5: Underestimating your seller closing costs

A prudent approach is to carefully calculate and subtract all seller closing costs from your expected sales price. This gives you a realistic picture of what you’ll actually receive on closing day.

Did you know there’s a stress-free way to sell your County house while avoiding all 5 of these common mistakes?

Sell your house directly to a local, trusted investor like Sound Home Buyer. By working with us, you eliminate all the headaches of traditional home selling. In fact, you won’t even need to list your house. We’ll evaluate your property and typically make an offer right on the spot.

Since we purchase homes with cash and don’t rely on bank financing or appraisal inspections, you can confidently sell your home completely as-is – no repairs or updates needed.

You’ll have certainty that your home will sell immediately with a quick closing. We can finalize your sale in as little as 7 days or according to whatever timeline works best for your situation.

And you won’t need to worry about closing costs eating into your proceeds – we cover those expenses for you, providing total transparency and no surprises.

Call SoundHomeBuyer at 360-317-2777 for a 100% hassle-free, straightforward selling experience. You have nothing to lose. Contact us today to schedule a free, no-obligation consultation.