Top 5 Mistakes Home Sellers Make That You Should Avoid
Now that April Fool’s Day is over, we’re not fooling around… and you shouldn’t either when it comes time to sell your home.
In order to ensure you get the best possible selling price for you home, make sure to avoid the following five mistakes that we’ve found sellers often make:
1. Try Not to Overprice Your Home
Overpricing the home when they first offer it for sale is the biggest mistake sellers make.
The first two weeks a property is on the market are very important to generate buyer activity, buyer competition and possible full price offers.
And more people can qualify the lower the price and monthly payment are. (Serious buyers usually know the market values because they’ve done their homework and already researched property values online.)
After a property is on the market for a while, buyers will think something must be wrong with the property since no one has bought it.
When the seller reduces the price, they will get lower offers and end up getting a lower price than they would have gotten when the house was first offered for sale.
2. Make Necessary Repairs and Improvements First
Not making necessary repairs and improvements before offering the property for sale is a costly mistake.
Most buyers want a property in move-in condition. Offering buyers a monetary credit for obvious repairs and improvements does not work.
Buying a home is an emotional decision and telling a buyer that you will credit them for new carpet does not help get the house sold.
Seeing, smelling, and even feeling new carpet will help encourage people to want to own the home.
3. Use a Professional Real Estate Agent
Studies have shown that a seller trying to sell by For Sale By Owner and not using a professional real estate agent will result in a lower sales price.
Buyers will want to get the sales savings the seller thinks they will get from not paying a real estate agent.
There are a lot of legal documents and negotiating necessary to get to a successful closing and it’s wise to have professional working to negotiate one of the most important transactions most people are involved in their life.
4. Hire a Professional Photographer
Home sellers don’t understand the importance of having professional photographs of the property online and on all marketing material.
Wide angle cameras will make the rooms appear spacious and it’s necessary to declutter and stage the rooms before taking the photos. (Pro Tip: To get sharper pictures, use a tripod.)
To get light and bright pictures, make sure to use a digital camera with flash. And to get the best pictures of the front exterior focus on the front door and take the photo mid afternoon when the sun is over head and the sky is blue.
5. Allow Buyers Access During Prime Time Each Day
Home sellers don’t understand the importance of every potential showing.
It is necessary to have electronic lock box access to the home. Buyers who are denied access may not come back.
The home has to be ready to show between 9:00 am and 8:00 pm with a maximum of 1-hour notice.
And while most people love animals, both you and your pets should vacate the house during all buyer showings.