Serious about selling your home? Before you sign anything, read about these common mistakes that home sellers make:
- Pricing Too High: It's no secret...the price is everything. Overpricing does more to discourage buyers than any other
single factor. When you overprice, you put your home in competition with homes that may be newer, larger, or have more amenities than yours. You are helping your competition sell their home. This leads to more days on the market and costs you
money in the long run. Make sure you get your pricing advice from a professional agent who knows the market.
- Poor Condition: A home that is in ill repair, or otherwise poor condition, does not excite buyers. A home like this is
looked at by buyers as a work project and money pit. Having your home in good repair and great showing condition will significantly improve your chances for a sale at top-dollar value. Having your home pre-inspected by a termite and dry rot inspector
will also have a positive impact on buyers.
- Poor Curb Appeal: Most
buyers today want to drive by homes before they decide to view the insider with their agent. If your home is an attractive drive-by, it will gain more attention and certainly more showings. Doing the little things to help your home's curb appeal
(such as adding fresh mulch, planting a few bright flowers, or keeping the lawn mowed) will make a huge difference.
- A Dreary Dark Home: Buyers like updated, bright homes. Dark carpets, paint, and curtains are often buyer turn-offs.
Go through your home and remove clutter before touching up or updating paint, countertops, 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 using fresh plugin scents and create a pleasant aroma. The most important rooms to concentrate on are the living room, kitchen, and master bedroom. Your entire home's atmosphere is set off by these rooms.
- Over-Improving: Get your home in good showing condition, but don't overdo it. Huge projects such as a complete remodel
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 from an agent with lots of market knowledge.
- Not Being Financeable: 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 pickiest.
- Getting Bad Advice and No 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 commission is often the least expensive part of selling your home. Trying to sell your home yourself
can be costly. Only 11% of "for sale by owner" homes are sold successfully and almost always close for lower sale price than comparable homes listed with an agent.
- Being Present During Showings: When your home is being shown, take yourself, your family, and pets out of the house. You
may feel like you need to stay with your home during showings, but you must let the agent and their clients have the freedom they need. Buyers are more at ease and much more likely to spend time looking at your home's features and benefits. The
agent is there to ensure your house is left as it was found, and your listing agent can digitally monitor when agents access your home via the code-secure lockbox.
- Not Letting 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. We understand that it can be a stressful time and promise to always explain the process to you as we go along.
Try to separate your emotions from your business side so you can remain cool and calm during this time.
- Act Too Slowly 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 so acting quickly while the excitement and interest level are at a high point can be very important.