Six Mistakes Sellers Make
We get it, you may be ‘so over’ your home and ready to sell but it’s still a touchy subject. Complete strangers walking through your once beloved space, criticizing the color you spent hours picking out for your master bedroom walls, “what do you mean this sea foam green isn’t appealing to buyers, can you not see it’s the perfect beachy, oasis escape?” So, as you prepare to stick that for sale sign in the ground, we put together a list of six things to avoid, we apologize in advance if some of this seems like a hard pill to swallow.
1. Not being clear and honest – It’s important to come to terms with the exact reason you are selling your home so that you can get through the process without flip flopping back and forth. If you’re not, “all in,” no offer on your home will seem attractive. Changing your mind only creates frustration for all parties involved and sorry not sorry, but changing your mind after you’ve accepted an offer ranks high on the absolutely do not do list.
2. Listing at the wrong price point – It’s common to want to get what you paid for, plus what you’ve put into a home and then some (although that actually rarely happens) however listing too high means you won’t attract a large portion of the market that is looking just below your list price. In addition, a sudden 20K price drop looks suspicious to buyers, not to mention asking too much for what it is you are selling could make you look greedy and like it or not some buyers don’t want to deal with a seller that may seem like a pain in the butt. Now, you don’t want to list to low either because then it makes it appear as though your home is not worth it’s value. Needless to say, this is why working with an agent is so crucial, we are pricing strategy experts!
3. Screwing up showings – This may seem obvious but, go away. Don’t linger or be home to snoop to see who is checking out your digs. Another way to mess up a showing is by leaving notes all over home (don’t touch this, use this light instead, do not open, etc.) are all very unwelcoming. Buyers need to feel an emotional and welcoming connection to the home or it won’t be a contender for them.
4. Cover ups and disclosures – While you don’t need to tag every broken item in the home, you need to be up front about any of the major issues without trying to cover them up. Water damage, a window that leaks or mold and other unfavorable bits of information must be disclosed in the contract or you could face legal action.
5. Forgetting your own finances – Selling usually means you’re buying something else and often times the situation is that you can’t put an offer on a home until you receive an offer on your home (a contingency.) Therefore, you must be prepared on your end by getting a preapproval for the new mortgage. The last thing you want is for the deal to fall through on the sale of your home, because whelp, turns out you can’t afford that new home after all.
6. Speaking of budgets remember the cost of selling – It’s important to be realistic about the entire process of selling your home and that includes the reality that it could cost money in the following ways: Agent Commissions (typically around 5 – 6%), closing costs, home inspection repairs and seller concessions.
All this adds up to the biggest mistake sellers make, not using an agent! For Sale By Owner might save you agent commissions but it’s proven that sellers net 25% more when they use a Realtor®. If you’re thinking of selling your home contact us today, we can help you avoid these mistakes and more, we’ll help make sure the selling process goes smoothly and you know just what to expect every step of the way.