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| Major Mistakes Made By Sellers |
From incorrect financing to lack of preparation, there are
countless mistakes that a seller can make when putting their house
on the market. This report covers some of the most common mistakes
made by sellers during the property selling process.
If you're serious about selling your house, it's important that you
know the facts. It seems like a simple prospect - just put your
house on the market, show it to a few buyers, and make the sale -
but as many sellers find out, selling a home can be a difficult,
expensive and long prospect. By knowing some valuable information
about the real estate industry, as well as some tips and tricks
about selling your property, you'll be able to more effectively
tackle today's real estate market. This report will tell you how you
can:
Avoid making mistakes when selling your home
Make you aware of the most common mistakes home sellers make
10 Biggest Mistakes That Sellers Make
Selling your home can be a difficult job, especially since you're
competing against hundreds of other properties. It's vital that you
be aware of what works and doesn't work when it comes to home
selling. Consider the following list of the most common mistakes
made by home sellers: |
| Mistake 1: Setting The Wrong Price For
Your Home |
| Experience shows 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 think they can't
even afford to look. Buyers who do look at an overpriced house know
they can get more house for their money elsewhere. |
| Mistake 2: Selling Your Home In ‘As-Is'
Condition |
| In today's competitive market, most buyers will not even
consider a house that needs fix ups. In contrast, a sparkling
showcase home gets top dollar when it comes to the bottom line. 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 fix-ups and likely slow the sale of
your house. |
| Mistake 3: Selling Your Home With A
Dull Interior |
| A clean, bright decor is what buyers want. Probably the best
dollar-for-dollar investment for selling your home fast is fresh
paint. Neutral colors are best. Next to fresh paint, new
carpeting--replaced for either condition or color--makes a big
difference. Elbow grease can be as effective as spending cash to
brighten your home. Start by ruthlessly getting rid of the junk
you've accumulated. Clean each room top to bottom. Dare to make your
home look better than you've ever had it looking before. Focus on
the three rooms most inspected--kitchen, master bedroom and garage
(if you've got one). Forget those and you may as well forget the
buyer, too. In the kitchen, clear off counters and organize
cupboards. Keep in mind, some prospects will judge the whole house
by the cleanliness of the oven or refrigerator. In the master
bedroom, move or remove furniture to create spaciousness. The ideal
garage stores only cars and perhaps an orderly display of garden
tools, so throw out your junk to show off room for theirs. |
| Mistake 4: No ‘Curb Appeal' |
| Your house gets only one chance to make a good first impression.
That's why "curb appeal" is one of the most critical points in
selling. Buyers are apt to fall in love at first sight--or not at
all. If your home lacks curb appeal, chances are the first
impression will not be counteracted by the most perfect floor plan
or the most tasteful interior. Spruce up the view of the house from
the street, including lawn, shrubs, shutters, windows, front door,
mailbox. Add potted flowers out front, a wreath on the door, brass
outdoor lighting fixtures--whatever will enhance your home's "buy
me" look. |
| Mistake 5: Over-Improving Your Home |
| While it's important to fix whatever needs fixing to get your
home ready for sale, undertaking a major project could cost more
money than you would recover from the sale. Spending too much on
remodeling projects just drains money out of your pocket. 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 they are needed.) |
| Mistake 6: Financing Incentives
|
| The more buyers you appeal to in terms of financing, the greater
your chances of selling faster. Be flexible, consider paying closing
costs or points, providing a decorator's allowance or other
irresistible buyer incentives. |
| Mistake 7: Stretching Out Buyer
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 you don't
want to lose a sale because you stall in replying. |
| Mistake 8: Being Adversarial During
Negotiations |
| No one wins if you enter negotiations with boxing gloves on.
Instead, approach negotiations in a positive frame of mind, not as
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. We'll make it our
business to get you the best deal. |
| Mistake 9: Not Having A Presentable
House |
| The presence of your family can make prospective buyers feel
like intruders. If you're at home when your home is being shown, be
your usual friendly--but low-key--self and keep children and pets
out from underfoot. It's the agent's job to show buyers what they
need to see. Buyers can better focus on your home's advantages by
viewing them than by socializing. If an open house is scheduled,
plan to be away from home, but let us know how to reach you quickly.
When you're not at home at other times, agents accompanying
prospects will leave their business card. Please alert us afterward
so we can follow up. |
| Mistake 10: Selling Without A
Professional |
| Going it alone like could invite disaster. Without a
professional advisor, you probably won't sell. Even if you do sell,
surveys show self-sellers often net less from the sale than sellers
who use a real estate agent. Selling a house is a team effort
between you and the listing agent. You'll find agents do a lot more
than most people know--from bringing qualified buyers to keeping
things on track to settlement. |
| Where to go from here? |
| This report is designed to illustrate that selling a home is a
complex, and often intricate process. If you're interested in more
information, please contact one of our knowledgeable team members to
assit you. |
