Avoid the Top 10 Selling Mistakes
Serious about selling your home? Before you sign anything, read about these common
mistakes that home sellers make:
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- PRICING TOO HIGH: It's no secret, 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 help your competition sell their home. This leads
to long days on the market, and costs you, the seller, money in the long run.
Make sure you get your pricing advice from a professional agent who knows the
- 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. 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 will make a huge
- DREARY DARK HOMES DON'T SELL: Buyers like updated, light and bright
homes. Dark carpets, paint, and curtains are often buyer turn-offs. Go through
your home and remove clutter; touch up and update paint, counter tops, 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 burning scented candles and create a pleasant aroma. The most important
rooms to concentrate on are the living room, family room, kitchen and master bedroom.
Your entire home's atmosphere is set off by these rooms.
- DON'T OVER-IMPROVE: Get your home in good showing condition, but don't
over do it. Huge projects such as complete remodels 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.
- BE 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 most picky.
- 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
- 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. An agent can always do their best job of showing
your home when you are not underfoot. 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.