5 Mistakes Homeowners Make That Cost Them Money
Knowing the true estimated value of your home is necessary for a successful sale. First impressions start with two things, price and appearance. Read how to avoid making a bad impression in this special articles for you homeowners.
First Impressions are key to making a happy relationship. The same applies when you are trying to list your home to sell in a competitive market. Knowing the true estimated value of your home is necessary for a successful sale. Pre- owned homes are always in demand. So with less to choose from buyers will tend to lean more towards homes that are appealing to the eyes, the nose and the pocket book.
I’ve been in this business long enough to see and know that within the first week of listing your home, if you the homeowner receive negative feedback or no showings it falls into the category of the mistakes we will discuss below.
As your real estate professional, I will make sure at our Home Market Consultation to go over any adjustments that are needed to make your home stand out to buyers and create more visibility on your home. All this will turn into offers coming in sooner than later.
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-Don't Be This Type of Home Seller-
#1 Overpriced Home:
The pricing of your home can create buyer activity or silence. What you may feel your home is worth as a homeowner is not the same as what market data reveals. The market data is accurate and taking into consideration what real estate has resulted in within the last 6 months. Note, this is specific to your community or neighborhood.
You’ve spent many years and have put some sweat and more likely tears into taking care of your home. That is wonderful to see homeowners have a pride of ownership. The question is: what improvements justify the price you are wanting to list for? There are key improvements that hold a home’s value if done correctly. If you want a list of those, please request here.
Another problem that is too often found, is that homeowners feel internet real estate websites are giving them the correct home value. In actuality, a homeowner could be potentially losing money. Internet sites are not taking into consideration genuine real time data. As your Realtor, I have access to that very data. It will give a detailed breakdown of your specific market.
With this type of data we can come to the Best price to list your home so that you can generate showings and an offer or more.
#2: Cluttered Living Spaces:
Presentation from online viewing to the actual showing is key to generating interest and offers. A buyer will have a very difficult time visualizing themselves living in the home if every nook and cranny is pack with items. If we take note of a model home, there is ample floor and wall space made visible to the eyes. Everything is in each room has a specific space with the feel to add more if one wanted.
Despite the temporary inconvenience of keeping a pristine look, your home is in competition to the new model homes nearby. So in all your home needs to present a crisp, clean and high end look no matter the list price. When sellers have adamantly refused to de- clutter their home it has cost them time on market which is money out of pocket and potential loss of their next home.
#3: Bad Odors:
It’s always a rule of thumb to have your home professionally cleaned prior to listing it to sell. Why you may ask? Isn’t that spending money on a home Im leaving? Yes, there is money spent initially, but it is minimal money that is spent and will help hold a higher value on your home when listed.
You and your family have lived in your home for awhile, so you’ve become accustomed to the odors. Whether you have pets or are a very active family or live in a vintage home those odors may not bother you, but will more than likely bother potential buyers upon entering the home. Bad odors can create the idea that something is wrong with them home and can deter buyers. Having carpets and rugs shampooed, having a detailed cleaning of all areas of the home will allow a fresh space that is ready for List Day.
#4: Home Repairs:
This is a common misconception homeowners have when they want to list their home for sale. I have personally seen the unwillingness to make repairs on the home.
Repairs depending on what they are can be costly. Yet if you know what you are able to fix prior to listing and what may not be feasible to repair, this can be a life saver in generating solid offers on your home. Fix what you are able too.
I recommend on most repairs hire a professional, it will save you heartache and money during the transaction period. Spending some money is doing repairs can work wonders on holding close to your list price at offer time.
#5: Unwillingness To Negotiate:
A seller has an offer and it is now time to negotiate…well so I think. Remember, in real estate everything is a negotiation. Being a realistic home seller is very important.
Buyers do not see your home the way you see it. They see it from their eyes. So at the time of even thinking to list one’s home, it is time for the homeowner to cut off emotional ties to the home. It is now a business.
So as the homeowner’s representation, I advise my client prior to listing this considerations:
- What is the lowest they will accept in price for the home.
- What is included and what is not conveying with the home.
- How much they are willing to give for any repairs that may be needed.
Though this is not written completely in stone(as is discussed with my client), it allows me as their agent to know how be their voice to potential negotiations.
List your Home To Sell The Right Way
Listing your home is more than just putting a sign in your yard. It is making sure from Day 1 your home stands out as unique and strong to buyers searching in your area. Especially if a number of buyers are looking in your community, making sure your home is not just another house takes a bit of marketing skill and a realtor willing to work the public where the public is looking.
Although I am a full- time Realtor I also co- own a marketing company with my husband. I utilize both of these skills and create a stronger marketing strategy for my selling clients to generate visibility, showings and offers. These offers come sometimes before a home is even on the market.
Have your Heard of a Seller’s Concierge Service?
Here is a basic overview of what is included:
- Coming Soon Campaign
- Broker Only Open House( campaign and event)
- Home Seller Vendor Prep List
- Professional Photography
- Neighborhood Notice
- Broker Tour
- Regular Listing Monday Follow Ups
- Initial Listing Open House Weekend
- Gift Card For Open House Weekends
- Closing Day Celebration
- Moving Day Luncheon
Sounds Pretty Nice Right?
If you have read this whole article, then you must be ready to sell your home. If so, let’s sit down for a Market Home Consultation to find out how to sell your home aggressively and fast. Fill out the form on this page or contact me direct.