Top Mistakes That Will Keep Your Home from Selling
Don’t Prevent YOUR House From Selling! Selling a home is not easy, especially when there is plenty of competition, and buyers have a host of properties to choose from. There are a lot of beautiful homes just like yours up for sale at any given time so you can not afford to be casual when you decide to put your house on the market.
Luckily for you, I have gone put together a compilation of the top mistakes that will keep your home from selling. If you want a quick sale for top dollar without repairs having to be made, here are several things you need to avoid.
Listing Your Home For More Than It Is Worth
This is by far one of the most common and detrimental mistakes home sellers make. There is nothing wrong with wanting to sell your home at a profit, however, you should never overprice your home if you want to sell quickly. Price is by far the most important consideration for home buyers. As a result, the price you set should be attractive and represent the true value of your home according to an expert real estate agent and not your own wishes or expectations.
You can hire an agent to value your home and carry out a thorough market analysis. This will ensure your home gets listed at a market price, taking into considerations such as location, home condition, and any home upgrades or improvements you have undertaken. As a note, overpriced homes discourage interested parties from making offers, and often sit on the market. If you are not getting showings and have no offers, you need to seriously consider lowering your asking price.
To Repair or Not
This should go without saying. The last thing many buyers want is to resolve issues the seller should have already taken care of. It is advisable to get your property in the best condition possible before you decide to sell it otherwise you will have a hard time attracting buyers.
Take care of the easy fixes like jiggly door knobs, sagging screen doors, broken windows, siding tears, loose hand rails on the steps, dirty/damaged gutters, dripping faucets etc. and work with your agent to determine if it is cost effective to take on major repairs (i.e. heating/air, roofs, etc.) or offer the buyer a credit at closing. It is better to include the cost of repairs in your asking price than consider settling for a lower offer.
Keep Your Emotions In-Check
Many home sellers make this mistake which is totally understandable. Homes are beloved possessions full of memories. Nevertheless, potential buyers may not see your home as such which is why you need to be as rational as possible if you want to give your house its best opportunity to sell.
If it helps, you should think of your home as a commodity as opposed to an extension of who you are. You can have an agent review your property and advice you on what you need to change to make your home more marketable. They see houses daily…listen and heed their advice.
Home features aside, you should avoid getting offended by low offers. Most home sellers get emotional when they are offered less than what they expected. Instead of blowing off potential buyers or having other emotional responses, decline such offers politely and/or give a counter offer. You should not blame anyone for trying to get a great deal. Furthermore, you might push away a serious buyer since low offers are part of the negotiation process.
Trying to Sell For-Sale-By-Owner
Although there are benefits of selling your home yourself, the disadvantages can easily outweigh the advantages when you do not know what you are doing. Contrary to popular belief, selling your own home is not easy. In most States in the U.S. for instance, you automatically accept some liability when you try to sell your home yourself.
The entire process can also be tedious and time consuming not to mention the special skills required (i.e. negotiation skills) to sell real estate successfully. In a nutshell, it is better to hire a local real estate professional if you want the best outcome possible. The money you stand to save as a first time home seller is not worth the hassle of trying to go for-sale-by-owner.
In fact, you may end up incurring avoidable costs when you attempt to sell your home on your own because of factors such as poor negotiation skills, lack of real estate market knowledge, and not understanding the real estate laws in your state. List with a knowledgeable agent and you have every opportunity to close on your home.
Do Not Let Details Derail You
Many home sellers also have a hard time selling their homes because of being too rigid over minor details. It is possible for a home sale to fall apart because of minor details. For instance, a seller may want to take a mantle with them instead of leaving it behind. Unless the mantle is really precious to you (i.e. it has been in your family for generations), you can always find another mantle. It is not worth losing a serious buyer over such a minor detail especially if you are getting a great offer.
Fixes that you probably should have kept up with over the years such as brass fixtures, wallpaper, unsightly landscaping (untrimmed hedges, overgrown lawn or flowerbeds, broken borders, etc.) need to be resolved as quickly as possible. If you are unsure where to start or need a little inspiration, visit model homes in your area and see what local builders are doing.
You only get one opportunity to make a great first impression with buyers. Do not be offended, just make the necessary changes and your home will glow. That includes getting rid of excess and clutter. Clear out old books, newspapers, appliances, and knick-knacks. Buyers want space and many will not be a able to see past your stuff to recognize the potential your home offers.
Potential buyers want to envision themselves in your home as opposed to sharing your personal memories and tastes. That is why it is important to make your home as neutral as possible (remove your personal collections, use natural/neutral paint, etc.). The less of you the buyers see in the home, the better!
Remove family photos, offensive material, trophies, your taxidermy collection, etc. Don’t prevent your house from selling…instead remove the distractions so potential buyers do not need to look past your keepsakes to see all your house has to offer.
Fresh paint smells and looks clean and makes it easier for buyers to visualize how their stuff will look in each room. Remember, you are trying to sell the home, not show off your flair or possessions.
Market Like You Mean It
This is one of those areas where hiring a technical savvy agent who has a solid online presence will pay dividends. Long gone are the days where putting a ”For Sale” sign in your yard and/or taking a few photos of your home and posting them online is enough. If you want to sell your home fast and at the best price possible, you need to consider all marketing options at your disposal.
For instance, your agent should utilize the internet fully by posting that your home is available on as many sites as possible (syndication helps). They should also be competent in using social media, online local groups, etc. to let consumers know your home is ready for visits. A key is to ensure your agent either takes, or hires a professional, to take quality photos of your home. With over 90% of real estate consumers starting their home search online, photos that make a positive impression will go a long way towards securing a contract on your home.
Sellers…Don’t Prevent YOUR House From Selling! There is time to fix the issues and resolve any disconnects, but they really need to be taken care of as early in the listing process (preferably before going on the market). Make the simple changes, listen to your agent, and put yourself in a better position to sell your home!