Common Seller Mistakes

By adam
05/12/2011   Leave a comment
  1. Wrong Mind-Set: Unless you are a “Zen Master” it will probably be a huge undertaking to get your home (and your life) ready for the project. You need to swallow your pride and clear out your schedule or hire serious help. In this market, not taking the project seriously is a recipe for too-many-months- on-market. Bite the bullet, be industrious, get it done. Have your agent  show you your competition if you are really serious about selling.
  2. Pricing Too High: Price is everything. When you overprice, you put your home in competition with newer, larger more amenity-packed homes. You help your competition.
  3. Poor Condition: Nobody wants a project! A home that in poor condition, does not excite buyers. A home in need costs money indeed. Having your home in good repair and in great showing -condition will improve your chance for a timely, profitable sale. Fix everything, the results are predictable. People like it!
  4. Poor Curb Appeal: There is a wonderful TV show on this. Watch it.
  5. Dark is Bad: Buyers like updated, bright homes. Dark carpets, paint, and curtains are statistical turn-offs. Remove clutter, touch up or completely re-paint inside and out, buy new-counter-tops when damage is apparent, and carpets. Open your home up and make sure the sun shines in. Offensive odors from pets and smoking are also huge turn-offs. Create brightness in the master suite and common areas first. Let the light shine!
  6. Don’t Over-improve: Get your home in good showing condition, but don’t overdo it. Huge projects such as complete remodels of kitchens, adding decks, and expanding room sizes may not pay you back. We can help you decide.
  7. Be Finance-able: Moisture and structural problems can make property 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.
  8. 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.
  9. Don’t Be Present During Showings: When your home is being shown, go for a drive or a walk. Take yourself, your family, and pets and let the agent and their clients have the freedom they need. Let the agent do their best showing for your home. Buyers are more at ease and much more likely to spend time looking at your home’s features and benefits.

Let Your Agent 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.