Selling a home is a challenge. That is why you have your real estate agent there to guide you through the process. Here are the top five home seller mistakes to avoid:
This is a tough one. You want to get the most money out of your home when selling. And if you have put forth effort to keep your home up-to-date, pricing it can be a sensitive topic. Depending upon when you purchased your home (i.e. height of the housing bubble), you may have purchased it at a price that is no longer valid for your area. But do not be tempted to overprice your home. Why? Here is what overpricing from fair market value does:
- Prevents potential buyers from considering or previewing your home
- Your home is on the market for a longer period of time
- With no offers, you finally lower your price and may have to accept a price lower than fair market value due to a perception that with your new price: (1) you are desperate to sell; or (2) there is something wrong with the home since it has been on the market so long
A fair price reflects the current market. When your home is listed for several weeks with people coming to look at it, you will get a good feel about your pricing strategy based upon offers and feedback. And, remember, you need to talk to your real estate agent and get their opinion. They are looking at homes every day and know what the market conditions and home values are.
Buyers prefer homes in good condition, especially if they are going to pay near-asking price. To get top dollar, you need to prepare your home for sale. If your home does not look like it is in good condition, you may get offers far below what it’s actually worth.
Problems Showing Your Home
In order to have a sale, people need to come and see your home. You need to keep it “show ready” (super clean and tidy) and be willing at a moment’s notice to make it available for showings. Most buyers do not want your agent there for showings – they want to see the home for themselves with their agent. And they definitely do not want you there.
If you turn down a showing, those buyers will move on to look at other homes.
Stinky homes do not make positive impressions. Take out the garbage. If you have pet odors, you need to tend to those issues. Read more about selling with pets here.
Do you smoke? You will need to have your home deodorized and refrain from smoking in the house while it is on the market. Smokers cannot smell the odor of the cigarettes, but those who do not smoke can.
When your home is listed and on the market, it needs to be super clean. Cleaner than clean. Obsessively clean. Shiny clean. Get it? And this means top and bottom, inside and out. Read more about cleaning your home here.