7 Home Selling Mistakes to Avoid in the South Bay
The South Bay is massive, holding most of Santa Clara County inside its limits. The area stretches from grapes in Morgan Hill wineries and Gilroy’s garlic field, up to the shores of San Francisco Bay. The real estate market is ultra-competitive, which can work for or against home sellers.
There are common home-selling mistakes made around the world, and South Bay sellers make the same missteps. As one of the most expensive places to buy a home, little errors during a sale can become costly.
These are 7 mistakes we’ve distilled for the South Bay home sellers about to list a property.
Downtown San Jose - via Eric Fredericks
The 7 Mistakes South Bay Sellers Need to Avoid
These home-selling errors and mistakes aren’t ordered in any specific way, but don’t miss a single one. Each item on this list can put more money in your pocket after a sale.
Choosing the Wrong Listing Price
Many home sellers accidentally price their property too low, losing out on valuable profit. Home sales often get finalized, and sellers are unaware that they could have collected thousands more.
Choosing the right listing price is tricky and this is where a realtor in the South Bay will be valuable. Not only are they monitoring the market, they’ve probably seen comparable homes selling recently. They’ll be able to gauge the right figure, considering your home’s features, neighborhood, and several other factors.
There are situations where you might price a home for a quick sale, but you’ll usually go for maximum value. This doesn’t mean waiting weeks for offers, as long as you choose the right listing price.
Try to Avoid or Cover Up Repairs
This is not one of the biggest home seller mistakes, but it must be mentioned. Anytime you try to avoid repairs during a home sale, you could be breaking your contract with the buyers. On top of that, it’s not the right way to conduct business.
If you have repairs or maintenance that look costly, there are options.
- You could ask a local realtor for help from one of their affordable contractors.
- Depending on the repair, the buyer might accept some kind of credit and fix it themselves.
If the home isn’t ready to sell, never hide this from potential buyers. It shows no integrity, and also, they will find out. Luckily, many people wouldn’t consider making this mistake. This may be especially true for the beautiful homes in the South Bay since it’s even easier to spot shortcomings.
Don’t skimp on repairs - via Marco Verch Professional Photographer
Rushing the Listing Photography
Almost all of your potential buyers will see your listing online, so your photography must be top-notch. Street corner snaps with a 2005-era digital camera or old Motorola are unacceptable home selling mistakes these days. Realtors work with photographers for all of their in-house listings. You’ll see this for yourself anytime you browse listings on a decent real estate site.
Ideal lighting and angles can give your home instant appeal online. The good news is that professional photography is coming down in cost. A couple hundred dollars can pay for your home to be captured beautifully in a single day. For larger properties, inexpensive drones can get stunning aerial shots, which used to require a helicopter with a full tank of gas.
Trying to List and Sell Without an Agent
It can’t be that hard, right? Selling a home isn’t just about listing it and signing a contract. Getting the maximum amount of money for clients means that a realtor has to actively market the home, reach out to their network of buyers, host open houses, and complete many other duties. At the end of the day, all of this salesmanship collects higher sale prices.
A 2022 study confirmed this, showing that a typical FSBO home (For Sale By Owner) sold for $225,000. The average price a realtor got was $345,000, which is a huge $120,000 difference. The cost of a realtor’s commission is extremely low compared to the extra profit sellers collect.
But there’s another reason to use an agent - and you probably haven’t heard of this one. Our real estate team has a Guaranteed Sale Program. When you list your home, we’ll analyze the value and put that in writing. This means that your home is guaranteed to sell at that price, freeing you up to move into a new property without worry.
Accepting Lower Offers from Friends
It could be your friend, a colleague from the office, or your hairdresser. Anytime you sell a home to someone you know, the emotions could cost you value. With our friends or family, we aren’t going to collect maximum value from our home sale.
The proceeds from your home sale will benefit you and your family, so this is not a time to accept anything lower than full value.
Don’t sign on the dotted line for a lower asking price, even for friends
Hiring an Inexperienced Agent
A home is the most expensive asset you’re likely to own, so don’t entrust the sale to anyone without enough experience. Nothing less than a professional, and a local one, from the South Bay area. Choose a team that is involved in the community, connected to residents, and in touch with the market.
More experience means a higher listing price, fewer headaches through the entire process, and peace of mind. Forget home selling mistakes, because a pro will guide you through each step and keep you informed.
See what The Jamison Team offers, compared to others
Not Calculating Home-Selling Costs
One of the most costly mistakes to avoid when selling your home involves the selling costs. Most of the time, your equity will cover these expenses, but don’t be surprised by:
- Staging costs.
- Closing costs.
- Agent commissions.
- Home inspection costs.
- Seller concessions.
- Moving costs (we’ll help you move for free).
Anytime you work with a realtor, a full breakdown of these costs will be shown. Surprises are not part of our customer service, so we’ll always keep you in the loop. Our moving service could even help you get to your new home, completely free of cost. If you want to chat with us about selling your home in the South Bay, we’re just a short message or phone call away.
We’ll be happy to explain some of the latest trends in South Bay and speak about your specific situation.
More Questions? Follow-up With Us!
If you have more questions about what to expect from the markets around the Bay Area, don’t be afraid to reach out to us today. Our experts are experienced in all property types and the entire San Francisco Bay Area, and we can help you to find what you need to know today.