Common Mistakes to Avoid When Trying To Sell Your House Fast

Colorado boasts one of the fastest-growing real estate markets in the United States. According to Yahoo Finance, the median purchase price for a single-family home in the Denver metropolitan area is $637,000 as of 2024.

However, whether you flip properties as a full-time job or have opted to sell your current home (either to purchase a new one or move out of state), due diligence is paramount to get the best bargain from the sale.

In this post, we’ll shine a light on the common mistakes to avoid while trying to sell your house fast.

1. Not Enlisting Professional Help

Many homeowners prefer selling their houses by themselves, arguing that real estate agents charge significant fees (sometimes up to 5% of a property’s selling price). But unless you’re a certified real estate agent, it’s imperative to consult a realtor before selling your house.

Realtors have a better understanding of the market and can quickly point you to a serious buyer. They also possess impressive haggling skills, vital when negotiating the final price with a buyer.

Even better is that most real estate agents maintain an online presence. Simply search for a relevant phrase like ‘sell my house fast Colorado,’ your search engine will pull dozens of realtors who operate within the state.

2. Picking the Wrong Time to Sell Your House

Despite Colorado’s booming real estate market, not every time of the year is ideal for selling your house.

Winter is notably the slowest period for flipping a property anywhere.

As most families are embroiled in holiday preparations, your listings are less likely to generate meaningful interest. Besides, winter’s frigid conditions make it unsuitable for potential buyers to go house shopping.

However, winter isn’t necessarily a bad time to list your property. Just don’t expect a buyer to come along until the season changes.

The saving grace is that fewer sellers also list their properties around wintertime. So, listing your house during this period gives it higher visibility, even if it doesn’t necessarily attract a buyer.

3. Being Overly Sentimental About the Sale

If you’ve owned a property for years, you may be hesitant about letting it go. Your emotional attachment to the house may have you listing the property and pulling down the listing.

Unfortunately, this can create the wrong impression and cause serious buyers to look the other way.

Some potential buyers might assume you’re just another joker out to waste their valuable time. Others may consider you a scammer trying to sell someone else’s property illegally or that something is amiss with the house and causes it to change hands so fast.

4. Setting an Unrealistic Price

A suspiciously high or low listing price can hinder you from flipping a property fast.

An overpriced listing can dissuade potential buyers from negotiating, while an underpriced one may cast aspersions on the property’s legitimacy.

To set the right price, you’ll need to conduct a market analysis. Note that house prices vary significantly across the state, depending on a property’s size, location, and architectural design.

Getting your home valued by a certified property valuer can also provide key insights into its likely selling price.

5. Not Willing To Negotiate

Very few buyers will purchase a home at the asking price. In fact, beware of a buyer who doesn’t care to negotiate, as that’s a sure sign your house was seriously underpriced.

Remember to implement a pricing strategy that allows you to profit from the sale even after extensive haggling.

For instance, if a single-family unit in Denver costs an average of $637,000, you may price a similar property at $620,000 to close the sale at a minimum of $600,000.

6. Skipping Major Repairs

Probably the most common mistake made by homeowners trying to sell their houses for quick cash!

It makes sense to skip major home renovations when you’re already in dire straits. However, the benefits of such repairs far outweigh the drawbacks.

Common renovations before selling a home include repainting, fixing electrical and plumbing systems, repairing the roof and gutters, sealing walls and foundational cracks, and doing landscaping touch-ups.

If you’re strapped for cash, a home renovation loan might help fund most of these repairs, allowing you to price your property appropriately.

7. Concealing Problems

A home isn’t a souvenir you can quickly purchase without asking tough questions. Note that most buyers will schedule a physical visit to your property before closing on a sale. So, it pays to indicate any problems ahead of time.

First, your listing photos and videos will need to be crystal clear. You don’t want a potential buyer guessing whether a mark on the roof is a tree leaf or a dent.

When describing the property, start with its standout features. Specify the house’s architectural design, size, included amenities, etc.

And if there’s a problem you couldn’t fix, be sure to state it in the description page as well.

Final Word

Avoiding the above mistakes can give you a head start when trying to dispose of your property in Colorado. Although we’ve already mentioned it, it’s important to underscore the significance of working with a licensed realtor while trying to sell your home.

Insist on a real estate agent who works full-time, preferably a state-based one. The realtor should be happy to provide references and a detailed work methodology. Needless to say, compare agent fees to pick someone that charges competitive commissions.