TOP 10 MISTAKES TO AVOID WHEN SELLING YOUR HOME –
1. PRICING IT WRONG
Pricing your home can be tricky! If priced to low you could loose out on thousands of dollars in profit. But if priced too high you will discourage buyers from making you a serious offer or you might discourage them from even viewing your home at all. You could waste weeks or months before you reduce the price enough to get an offer. Don’t trust the internet, ask a realtor for a comparative market analysis that will show how many homes are selling for. Setting the right price from the start can determine how much your home will sell for and how much money you put in your pocket.
2. DON’T FORGET THE CLUTTER
Your home will never look its best if it is full of clutter. Too much clutter can make your home appear smaller and it makes it hard for a potential buyer to envision their belongings there. So clear off all the surfaces, pack up all the toys and miscellaneous items, clean stains, eliminate odors, and don’t forget to clean up after your pets. You of course love your pet, but the potential buyer may not.
3. NOT STAGING YOUR HOME PROPERLY
Now that your home has been decluttered you can focus on staging. This may not seem like a big deal but not staging your home properly is a huge home selling mistake. And if your home is vacant you should consider hiring a stager. An empty home never shows as well as one that has been tastefully furnished. Your agent will likely work with several stagers and be able to recommend someone who can set your home up to look its best.
4. TAKING A LOW OFFER PERSONALLY
It is important to remember this is a business transaction. Remember they LIKE your home and want it, they are just trying to negotiate the best deal possible for themselves. Even if you are starting with a low offer, now is the time to negotiate. Listen to your realtor’s advice, make a counteroffer. If they are truly interested they will be willing to negotiate and improve their offer.
5. CURB APPEAL
You will never get a second chance at a first impression. When the potential buyer pulls up to your home it needs to look its absolute best. Make sure the yard is neat and tidy, lawn freshly cut, weeds are pulled and flower pots are out (weather permitting). You could even consider doing some inexpensive fixes such as a new mailbox, light fixtures, or even house numbers. If these are out of date or dingy your home may not be conveying the aesthetic you think it is. Making a great first impression means the buyers will be excited to see what’s inside.
6. HIDING MAJOR REPAIRS
Think your buyer won’t notice a leaky roof, appliances that don’t work? Guess again. Most buyers have a home inspection as a condition of their offer. If a major issue comes up during the home inspection it could delay the sale or even crash the deal. Take the time to make repairs and ensure your home shows its best. And remember sellers are required to provide full disclosure of their properties history.
7. DON’T FORGET ABOUT LIGHTING
Bright rooms will make your home look bigger and more inviting. So turn on the lights and throw back the curtains! Also make sure you have no burnt-out bulbs anywhere, dark corners are not your friend.
8. BEING EMOTIONALLY INVOLVED IN THE SALE
It might be hard but you need to let go of the features you love about your home and remake it as a house most people could love. This may seem “boring” but it will help your home appeal to a larger market. Have your realtor walk through your home and provide suggestions to make it more marketable. Remember when it comes to selling your home you need to think of your home as a commodity and not an extensive of your personality or identity.
9. LOOSING A SALE OVER A LITTLE THING
When it comes to negotiating the sale of your home try not to get caught up over a minor detail. Loosing a buyer over a piece of furniture or fixture is silly. Unless it’s an heirloom you can probably find another one. If you do have a particular item that you can not live without replacing it or remove it before you list your home.
10. SELLING IT BY YOURSELF
This is a big one. Most people buy or sell once or twice in a lifetime, and there is a lot of money at stake. If you decide to not use an agent and go the for sale by owner route sure you are saving yourself commission but you could miss the chance to make a whole lot more money. Realtors are on top of the current markets and know what homes in your area have been selling for. An agent can also find out if someone is a qualified buyer or just a curious neighbour. Even if you have some sales experience you will not have specialized experience negotiating a home sale. It’s a tall task to learn how to sell your home without a realtor.
Would you like more information or a free market analysis? Contact me for details.