9 Mistakes Sellers Should Avoid

9 Mistakes Sellers Should Avoid

Pricing Incorrectly

Understandably the seller wants as much money as possible when selling their home. Most often a listing that is priced too high nets the seller less than fair market value. Many times, sellers base their pricing on how much they paid for, or invested in their home. This can be an expensive mistake. If your home is not priced competitively, buyers will reject it in favor of better values. At the same time the buyers who should be looking at your house will barely see it because it is priced above their range.


Failing to Showcase the Home

Buyers look for homes, not houses, and they buy a home they could move into right away! Owners often fail to make necessary repairs and keep it clean, aired and neat. Buyers are often poor judges of the cost of repairs and sellers are better off to do the work themselves ahead of time. If you were selling a car you would wash it, maybe even detail it to get the highest price. Houses are no different.


Not Vacating Your Home During Showings

Buying a home is an emotional decision – people like to try on a house and see if it is comfortable for them. It’s difficult to do that if you follow them around pointing out every improvement you have made. It may even have the opposite effect by making them feel like they are intruding on your private space. Buyers will feel more comfortable asking questions without you home.

Mistaking Lookers for Buyers

For Sale By Owner houses often get more activity than houses listed with an agent. Realtors will only bring qualified buyers and these will be fewer than if you open your front door to everyone who walks down the street. A qualified buyer is one who is ready, willing and able to buy your home. Many potential buyers may have a house to sell first, may need to save more money or may have credit that needs fixing. When everything is in place, that’s when serious buyers go out looking with a Realtor.

Choosing the Wrong Realtor

It’s likely that you don’t interview people often and yet to find the Realtor that is right for you, you may need to interview several. The quality of your home selling experience is dependent on the experience level of the agent you hire. Its peculiar that in the real estate business, someone with many successfully closed transactions usually costs the same as someone who is inexperienced.


Over Improving the Home Prior to Selling

Sellers often unwittingly spend thousands of dollars doing the wrong upgrades to their home prior to attempting to sell, in the mistaken belief that they will recoup this cost. If you are thinking of selling, you should be aware of the most cost effective upgrades.

Failing to Take the First Offer Seriously

Often sellers believe that the first offer received will be one of many to come. There is a tendency to not take it seriously and to hold out for a higher price. This is especially true if the offer comes in soon after the home is placed on the market. Experienced Realtors know that more often than not the first offer ends up being the best offer and many sellers have had to accept far less money than the initial offer later in the selling process. The home is most saleable early in the marketing period.

Give us a shout to discuss how to sell painlessly, or any of your other real estate needs.
Mobile 519-722-9095
Jonathan Knight, Sales Representative
Re/Max Twin City Realty Inc., Brokerage