Biggest Mistakes Home Sellers Make – Sellers make a lot of mistakes when it comes to selling their home. Today we are going to discuss the biggest mistakes sellers tend to make.
The aim of this article is not to down the sellers, but to show you where they tend to make mistakes and hopefully get you to avoid them. This is an opportunity for homeowners and real estate investors to learn what not to do when selling a property.
Biggest Mistakes Home Sellers Make
Biggest Mistakes Home Sellers Make
You work so hard to make sure your property is ready to sell. There is a lot of work that goes into selling a home. Don’t sabotage your efforts by making some of these simple mistakes that can really set you back.
Overpricing Your Home – If your home is overpriced in this market, it will not sell. I am sorry to be the one to break the news to you. There are far too many homes on the market today in competition. You must price your home according to the sales in the market. Otherwise, it will sit there on the market. It might be sentimental to you or you may just have to separate with some of the equity you have built over the years. Either way, you must be competitively priced in this market.
Lack of Curb Appeal – Can you imagine getting a present for a significant other and not wrapping it? This is kind of like not tending to the exterior of your home. Don’t go through the trouble of getting your home ready to be sold and not skip out on curb appeal.
First impressions are tremendous when it comes to home buying. The speculation is women know by the time they exit the car if they like a home or not. Ok, that is just me talking about my wife, but she represents a typical buyer in the market. Your curb appeal is important.
Read More: Curb Appeal Tips
Not Cleaning Interior – Nothing turns buyers off more than a dirty home. It is true, they don’t have to live in like the current condition, but it impedes them from being able to see themselves in the property. You want the buyer to be able to see themselves living in the property. Dirt and clutter will not help this process.
Lack of Staging – Building on the idea of getting your buyer to see themselves living in your home or property, why not stage the location? It is a great idea. Staged homes have a better chance at selling in a market like this.
It helps to de-clutter your home and gives your prospective buyers a better understanding how to use the various spaces in the home. It doesn’t have to be very many items, but just a few in each room really helps.
Read More: House Staging Ideas
Spending Too Much On Improvements – Don’t go over board with your improvements and renovations to your home. You are not going to get the return you could just a few years ago, so don’t bother. Just be sure to make your home livable and easy on the eye.
In appraisal terms, we are talking about “Over Improvements”. This is when you make an improvement in the market that will not add the same value to your property. There are extreme examples like a family that put a $75,000 kitchen into a $140,000 home. This was totally unnecessary. Then there are smaller over improvements like putting on a slate roof in a neighborhood where they are not expected. Great idea, but not going to return the value it cost you.
Not Allowing Buyers and Agents Into Property – When you are selling a property, you need to be available. Seriously, people are trying to purchase your home. You need to be available to let them in. You could at the very least put a lock box on your door. This way when agents call to show the property, they can just use the lock box to get inside. Frees up your schedule a lot.
There are so many things that could go wrong that don’t involve you when selling a home, you don’t need to multiply the issues by committing these seller mistakes. Get your head on straight and sell that home! - Biggest Mistakes Home Sellers Make
that’s lot to learn, things to talk about with friends who’s selling
Hopefully, some of them will help your friends.
Thanks for the comment!
Great list of the biggest mistakes for homeowners.
Overpricing is pretty much on the number one list for most homeowners especially for the ones who have seen their homes skyrocketed during the boom years. Some of them still think that the values are still the same. They just need to face reality that it has plummeted already and need to price their homes accordingly.
Yes. It can be difficult to let go of all that equity, but in most markets it is gone. The sooner they come to realize this, the better. Other wise, their house will sit on the market for years. And if they are paying two mortgages, that will get old fast!
Glad you enjoyed the post. Thanks for stopping by and commenting.
Great tips. We are going to be selling our home soon-ish, All things to think about.
Excellent, Niki! Good luck with the sale and hopefully you will be able to use some of these ideas.
Not in the market for selling but always interested in keeping an eye on the buying market. It is good to know these, so that the buyers can see through some of the staging and see the actual house behind that
Buying can be an emotional decision, but not in this market. When buyers have crazy options everywhere, they are more picky than before…..as they should be. Sellers really have to come with their A game if they are going to move their homes, but if they are overpriced, then they are dead in the water.
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When selling a home offer a reasonable price that your buyers cannot refuse to accept. Also, make your home look more appealing and comfortable to stay in. And make yourself always available to answer your prospect buyer’s queries.