10 Reasons Why People Throw Away Money When Selling Homes


How do you feel when you see someone wasting thousands of dollars at a blackjack table in Vegas? You are probably disgusted in their wild behavior. At least they’re losing money while having fun. You are flushing your hard-earned cash down the drain.

It’s likely you’re missing out on tens of thousands of dollars too. The reason you find yourself in this predicament is because you don’t know how to sell your home, which is worth more than anything you’ll ever own. Would you like to know how to do things differently?

1. Stick to One Agent

If I wanted to sell my house I would stick to one agent. A lot of people think they’ll sell their home quicker if they use lots, which you could argue is actually true. You would just end up getting less money for it.

In those types of situations where there is lots of competition agents want to grab their commission. If they tried to negotiate another agent could snatch the cash. Stick to one and they’ll focus on getting you the best deal.

2. Damage Is Like a Virus

When you’re suffering from a virus it spreads around your body. It’s just the way it works. If potential buyers are visiting your home you don’t want them to see any damage, because they think of it like a human virus.

The damage in one area of your home must have spread throughout it, or at least that is what they think. Once someone sees a little damage the estimated value of your home will drop by quite a significant amount.

3. Painting Is Always Effective

I’m not sure how old your home is right now, but it’s not the actual age anyone cares about. It’s why homeowners spend millions of dollars on extravagant castles. It only really matters how your home looks.

When someone wants to look younger they put makeup on, which is exactly what you’d do to a house. Once you paint the walls it will make a world of difference, plus you’ll be able to do everything on your own with the right equipment.

4. Treat Neighbors Kindly

When someone moves into a home it’s not just the structure they’re buying. They want to become a part of the community. Nobody will feel optimistic if they visit your home and notice everyone in the general vicinity dislikes you.

In the UK, one study showed unfriendly neighbors could reduce the price of a house by up to £37,000. It’s even more in dollars in case you’re wondering. It would be a good idea if you became friends with your neighbors.

5. Grow a Nice Simple Garden

At some point in time, you’ve walked through a garden that took your breath away. It’s almost like you’ve been transported to a mystical planet, especially if you live in a populous city like New York.

Although these stunning gardens are nice to look at nobody wants to own one. They require too much work that buyers are unwilling to do. If you have a lush garden they’ll need to hire a gardener, so they’ll want to pay you less money.

6. Playing Around With Illusions

Mini homes seem to have caught on in the last couple of years, but only a tiny percentage of the population are interested in them. In the real world, buyers would like their new home to be absolutely huge.

You can’t create space out of thin air, but a few illusions will make your home appear bigger. Mirrors are the obvious one everybody knows about. Knocking down walls and installing floor-to-ceiling windows will work well too.

7. Hire an Interior Designer

If you studied interior design at college you can ignore this advice, but if you didn’t pay close attention. Phone up an interior designer in your local area and ask them to visit your house for an hour.

It hardly costs anything to hire a professional, even if they’re great at their job. Think of all the tips they’ll be able to give you. When people come to visit your home they’ll be a hundred times more attracted to it.

8. Cut Your Energy Costs

Buying a home is only the beginning as I’m sure you already know. Think about all the extra costs you’ll need to pay over the years. One of the consistent ones will be your energy bills, which buyers do actually care about.

Don’t be surprised if a couple of people ask to see your bills. You can prepare for this ahead of time by lowering them. One of the top ways to do it is by sealing up any holes letting warm air escape into the atmosphere.

9. A Lack of Research

The next time you see your real estate agent ask them to give you a comparative market analysis (CPA). Not only will it show you the homes for sale in your neighborhood, but you’ll know how much buyers paid for them.

You don’t need to go under these numbers. In fact, unless something drastic has happened recently you shouldn’t. It’s possible you’ll need to make changes to get what you want, but research lets you know it’s possible to get it.

10. Improving Air Quality

We could come up with dozens of ways to improve the air quality in your home, but we’re only going to focus on one. Scatter a lot of plants around the rooms and they’ll help get rid of terrible odors.

Who needs to bake cookies before inviting potential buyers into your home when you have plants? Also, don’t forget they’ll create an amazing atmosphere too. Everyone will be in a good mood while they’re walking around.

Forget About Mistakes in the Past

If you’ve sold homes in the past you should forget about all the mistakes you made. Throw 100 percent of your effort into working out how you can maximize profits from your current home, which shouldn’t be difficult after analyzing all these fantastic tips.

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