The housing market is transitioning, with higher mortgage rates causing more moderate buyer activity while the supply of homes for sale is growing.

If you aren’t working with a Conejo Valley Realtor, you may not realize this. Here’s the downside: without the right information, you can't adjust your strategy or expectations to today’s market, leading to costly mistakes.

Here’s a look at some of the most common ones and how a real estate agent can help you avoid them:

1. Overpricing Your House

Many sellers set their asking price too high, resulting in an uptick in homes with price reductions. An unrealistic price can deter potential buyers, cause appraisal issues, or leave your house on the market longer. 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 this, partner with a pro. An agent uses recent sales of similar homes, the condition of your house, local market trends, and more to find the price that’ll attract more buyers and lead to multiple offers and a faster sale.

2. Skipping the Small Stuff

Skipping important repairs can turn off potential buyers and result in lower offers or demands for concessions. 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.”

To get your house ready to sell, turn to your agent for advice. They can do a walk-through and point out anything you’ll need to tackle before the photographer comes in.

3. Not Looking at Things Objectively

With high home prices and mortgage rates, buyers today may come in with lower offers, especially if you didn’t stage, price, or market the house well. It’s important not to take this personally. Ramsey Solutions says:

“Remember, a buyer’s offer is not a reflection of their opinion of your home or your housekeeping abilities... The sale of your home is strictly a business transaction. If they start out with a low offer, don’t take it personally and get emotional. Instead, channel that energy toward negotiating. Work with your agent and make a counteroffer.”

4. Being Unwilling To Negotiate

The growing supply of homes gives buyers more options and more negotiation power. As a seller, you may see more buyers requesting inspections, repairs, or help with closing costs. Be prepared for these 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 guide you through what levers you may want to pull based on your goals, budget, and timeframe.

5. Not Using a Real Estate Agent

Notice anything? For each of these mistakes, partnering with an agent helps prevent them. Trying to sell your house without an agent’s help can be the biggest mistake of all.

Real estate agents have experience and expertise in pricing, marketing, negotiating, and more. This knowledge streamlines the selling process, generates more interest, and can get you a higher final price.

Bottom Line

To avoid these common mistakes and ensure a successful sale, connect with a Conejo Valley Realtor. Let's set you up for success.