9 Mistakes Sellers Must Avoid
There are countless mistakes that a seller can make when putting their house on the market. Here we will cover the 9 Mistakes Sellers Must Avoid during the selling process.
If you’re serious about selling your house, it’s important that you know the facts. The process may seem simple- just put the house on the market , snap a few photos, show to few buyers, and make a sale- but as many sellers find out, it’s just not that simple.
Consider the following list of the most common mistakes made by home sellers:
Mistake 1: Selling your home in “As-Is” condition
In today’s competitive market, most buyers (non investors/speculators) will not even consider a house that needs extensive repair. In contrast, a sparkling showcase home gets top dollar. What most buyers are looking for is an inviting home in move-in condition, one that looks as good as a model home. Buyers who are willing to tackle the repairs after moving in automatically subtract the cost of needed fix-ups from the price they offer. Either way, you save nothing by putting off needed repairs and likely slow the sale of your house.
Mistake 2: Selling your home with a dull or cluttered interior
A clean home with bright decor is what buyers want. The best dollar-for-dollar investment for selling your home fast is a fresh paint job. Neutral colors are always best. Next to fresh paint, new flooring makes a big difference. It’s time to earn some sweat equity. Start by getting rid of the junk you’ve accumulated over the years. Then you must declutter and declutter some more. Clean each room top to bottom. Focus most your time and energy on the three most inspected rooms- Kitchen, master bedroom and garage. If they are not looking their best, you may as well forget the buyer.
>For Ideas on Design, DIY Projects, and Organizing and Cleaning
Mistake 3: No “Curb Appeal”
You only get one chance to make a first impression, so make it count. Curb appeal is one of the most critical points in selling. Buyers are apt to fall in lover at first sight- or not at all. If your home lacks curb appeal, chances are a negative first impression will not be counteracted by the a perfect floor plan or tasteful decor. Be sure to spruce up the place including- shutters, windows, entry way to front door, and mailbox. Add potted flowers out front, lots of them. Do whatever it takes to enhance your home’s “Buy Me Look”.
Mistake 4: Over-improving your home
While it’s important to fix whatever needs fixing before the sale of your home, undertaking a major project could cost you more money than you would recover from the sale. If your improvements will push your home’s value more than 20% over the average neighboring home values, don’t expect to recoup the entire cost (some major projects, however, like replacing a roof should be done if needed).
Mistake 5: Financing Incentives
Make the terms of your sale appealing to buyers by offering financing incentives. Be flexible. Offer to pay closing costs or points. The more buyers you appeal in terms of financing, the greater your chances of selling fast.
Mistake 6: Delayed negotiations
One of the most important moves you can make is to reply immediately to an offer. When buyers make an offer they are, right then, in the mood to buy. Moods, as you know, change and they can change quickly. You don’t want to lose a sale because you stalled in replying.
Mistake 7: Being Adversarial during negotiations
No one wins if you enter the negotiations with boxing gloves on. Instead, approach negotiations in a positive frame of mind, not a s an adversary of the buyer. After all, you both want the same thing- a sale. Leave most of the discussion of price, terms, possession and other conditions up to your agent. I will make it my business and top priority to get you the best deal, so leave the negotiation to me!
Mistake 8: Not having a presentable house
Avoid being home during showings. The presence of your family can make prospective buyers feel like intruders. If you happen to be home during a showing, be your usual friendly- but low-key- self and keep conversation to a minimum. Its the agents job to show buyers what they need to see. Agents accompany all prospective buyers when viewing your home. They will leave their business cards behind. Please let me know afterward, so that I may follow up. I will ask the right questions to find out what their buyer thought of your home: if they didn’t love it- why and if they did love it- how can we close the sale!
Mistake 9: Setting the wrong price for your home
Experience shows us that the right price sells a house faster than any other factor. When the listing price is more than 5% over market value, the price alone discourages buyers. That’s because an overpriced house scares away potential buyers who know that they can get more house for their money elsewhere.
