Top 10 Seller Mistakes
Are you serious about selling your house?
Read about these common mistakes that many sellers make:
Too High of Price:
As you know when it comes to real estate, price is everything. Overpricing your home discourages buyers more than any other factor. If your home is overpriced, you put it in competition with homes that are likely to be newer, larger, or have more features/amenities. In other words, you help the competition sell their home, which leads to more days on market, costing you more money in the long run. Statistics show that the best opportunity to sell your property is within the first few weeks of placing it on the market. Therefore, it is crucial that your home be priced right. Be sure you receive pricing guidance from a professional. They will evaluate your home’s location, recent sold data, current market trends, and special features that set it apart from competitors.
A home that is in poor condition or needs much repair, does not attract and excite buyers. Instead, a buyer will look at it as a work project and money pit, a headache. Showing your home in great condition will significantly increase your chances of a sale at top value.
Low Curb Appeal:
Most buyers drive by the homes they are interested in before making an appointment to view. If your home’s exterior is attractive and well-maintained, it will get more attention and positively more showings. Fixing the smaller things to increase your home’s curb appeal will make a great difference.
Outdated, Dark Homes Don’t Sell:
Buyers like updated, light and bright homes. Dark carpets, paint, and curtains are often buyer turn-offs. through your home and remove clutter; touch up and update paint, counter tops, and carpets. Open your home up and make sure the sun shines in. Offensive odors from pets and smoking are also huge turn-offs to most buyers. Rid your home of offensive smells by burning scented candles and create a pleasant aroma. The most important rooms to concentrate on are the living room, family room, kitchen and master bedroom. Your entire home’s atmosphere is set off by these rooms.
Get your home in good showing condition, but don’t over do it. Huge projects such as complete remodels of kitchens, adding decks, and expanding room sizes may not pay back your investment. Before you jump into a huge improvement project, get some good advice.
Bad roofs, exterior paint, or structural problems may make your home un-financeable. The wider the scope of financing that your home can qualify for, the higher the overall market value. Remember — government programs like VA and FHA will be the most picky.
Get Good Advice and Good Market Exposure:
Hiring a professional agent will help you get your home priced right, and will also get you started with the best fix ups. A strong agent will get your home exposed to the largest number of potential buyers. Paying the agent fee is often the least expensive part of selling your home. Trying to sell your home yourself can be costly. Most ‘for sale by owner’ homes close for less than comparable homes listed with an agent, and you have no representation.
Don’t Be Present During Showings:
When your home is being shown, for a drive or a walk. Take yourself, your family, and pets and let the agent and their clients have the freedom they need. An agent can always do their best job of showing your home when you are not underfoot. Buyers are more at ease and much more likely to spend time looking at your home’s features and benefits.
Let Your Licensee Do the Negotiating:
If there is ever a good reason to have a veteran agent working for you, it’s during the negotiation of your home sale. A good negotiator can mean thousands of dollars to you, and will protect your interests. Don’t let your emotions run wild during negotiations. Try to separate your emotions from your business side. Remain cool and calm during this time.
Act Fast With Offers:
When you do get an offer on your home, act quickly and decisively. Letting offers sit around without acting can be a huge mistake. Things can change quickly in the mind of a prospective buyer. Acting quickly while the excitement and interest level are at a high point can be very important. Typically, a buyer’s motivation level decreases with time. Buyers’ remorse can even set in. Acting in a timely manner is essential.