"Real Estate Developers Beware: Zillow Survey Reveals Costly Mistakes Homeowners Make When Selling in [Neighborhood]"
"A recent Zillow survey exposes costly errors made by homeowners when selling their biggest investment: their home."
As the saying goes, a home is often the biggest investment someone will make in their lifetime. Not only does it provide shelter, but it also serves as a means to build long-term wealth. However, when it comes time to sell, many homeowners may unknowingly sabotage their potential profits.
In a recent survey conducted by Zillow, a leading online real estate marketplace, it was revealed that a significant number of homeowners make costly mistakes when selling their homes. The survey, which polled over 2,000 homeowners across the U.S., found that nearly 80% of homeowners made at least one mistake during the selling process.
One of the most common mistakes identified in the survey was overestimating the value of their home. 26% of homeowners admitted to listing their home for a higher price than recommended by their real estate agent, resulting in longer listing times and potential price reductions. Other costly mistakes included not making necessary repairs or updates (25%), not staging the home properly (14%), and not hiring a professional photographer (8%).
According to Zillow's senior economist, Jeff Tucker, these mistakes can have a significant impact on the final sale price of a home. "Making these mistakes can result in a lower sale price or a longer time on the market, which ultimately can cost homeowners thousands of dollars," Tucker stated.
However, it's not just homeowners who may be at fault. The survey also revealed that 41% of homeowners felt their real estate agent didn't provide enough guidance or support during the selling process. This highlights the importance of finding a reputable and experienced agent who can help homeowners avoid costly mistakes and navigate the complex