10 Biggest Selling Mistakes And How To Avoid Them
If you're serious about selling your house, it's critical — before you sign anything
— to know how to successfully sell in today's market. The secret sounds so simple.
(Maybe that's part of the problem!)
To beat the competition today, you simply must avoid the mistakes other sellers are
most likely to make. Then you'll sell faster and get the best price, too!
Here are the 10 most common mistakes other sellers make — but you can avoid:
Mistake #1: Wrong Price
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 afford to look. Buyers who do look at an overpriced house know they can get more
house for their money elsewhere.
Mistake #2: 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 noting by putting off fix-ups and likely slow the sale of your house.
Mistake #3: 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 lack 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, mail box. Add potted
flowers out front, a wreath on the door, brass outdoor lighting fixtures — whatever will
enhance your home's "buy me" look.
Mistake #4: Dreary Dungeon Cells
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
unclutter 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 #5: Lavishly Over-Improving
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: Inflexible Financing
The more buyers you appeal to in terms of financing, the greater your chances
of selling faster. Be flexible. Consider accepting FHA and VA financing, offering
seller financing, paying closing costs or points, providing a decorator's allowance
or other irresistible buyer incentives.
Mistake #7: General Custer Syndrome
Going it alone like General Custer 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.
Mistake #8: Always Be Underfoot
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 home at other times, agents accompanying prospects
will leave their business card. Please alert us afterward so we can follow up.
Mistake #9: Put Up Your Dukes
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 #10: Let A Buyer's Contract Languish
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.
Back to list of Seller's Tips
|
