Biggest Regrets Of First-Time Sellers

Real estate articles will frequently talk about first-time buyers, since they are a significant proportion of buyers overall. Less discussed are first-time sellers. It may be time to change that, since it seems like they could use some advice from experts. In the past two years, 84% of first-time sellers wished they did something differently during the sale process. The four things first-time sellers most regret are their decisions regarding pricing, online presence, timing, and repairs.

The most frequent comment was that they should have priced their home higher. Of course, that depends on the market. That may have been true when they sold, but don’t necessarily take that to heart. It’s also possible to list too high, which may be a more common regret this upcoming spring. Regardless of the list price, though, 90% of first-time sellers believe they could have done something to get a higher price. For 39% of them, this may be better listing photos. Virtual curb appeal is important nowadays when many people are looking online for their purchases. Since listings with virtual tours get 69% more views, this could boost your chances by quite a bit, and 25% of people agree a virtual tour would have helped. According to Zillow, the optimal time to sell is the second half of April. Not everyone has the flexibility to do this, but 25% still wish they listed at different time. 36% also didn’t have a good idea of how long it would take to sell. Even though 66% of first-time sellers completed at least two home improvements before selling, 25% believe a bigger investment in repairs or improvements would have increased the sale price.

Photo by @felipepelaquim on Unsplash