CHAPTER 10 Avoiding Costly Mistakes Selling a home can feel like navigating a minefield. One misstep, and you’re leaving money on the table—or worse, dealing with the fallout of a bad decision. The good news? You don’t have to make these mistakes yourself. Let’s take a walk through some real-life scenarios that showcase what not to do and the lessons every seller should take to heart. Underpricing: The Easiest Way to Lose Money on Your Home Sale The #1 reason people lose money selling their homes? Underpricing. It’s easier than you think to fall into this trap. Sellers often price their homes based on gut feelings, assumptions, or bad advice, without ever researching their property’s actual value. Take the case of a couple who sold three acres of prime real estate for $80,000—less than a third of its $300,000 value. Why? They hired an agent unfamiliar with the area, and neither the sellers nor the agent realized the land was zoned for high- density condos. The buyer? A savvy developer who turned their oversight into a goldmine. The Lesson Don’t guess, assume, or trust just anyone with your property. Hire an experienced agent who knows the local market, and insist on a detailed Comparative Market Analysis (CMA). Knowledge is power—and profit. 44
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