Nov 12, 2018
What Are The Worst Mistakes Sellers Make?
Selling a home is an emotional process, one that can make sellers susceptible to all sorts of pitfalls along the way. In an effort to help make the transition easier, we asked top real estate agents to point out the biggest mistakes that sellers make. Read them over so you don't fall into the same traps.
Forgetting about curb appeal:
"If you can’t get the buyer’s through the front door, any interior improvements might not matter. Take time to lay new sod, plant hedges, or colorful flowers to create an inviting entrance to the home and set the stage for your buyers to fall in love. The old saying still reigns true: you never get a second chance to make a first impression."
Pricing your home too high:
One of the biggest mistakes a seller can make is to price their home high. Sellers will think they can always reduce the price if needed. However, the problem with this approach is the home will sit on the market until the home is priced right and it may become stigmatized. Price your home right from the start - based on comparable recent sales, upgrades, and condition - and it will sell fast."
Not preparing the home for sale:
"The biggest mistake I see is sellers who try to rush to put a property on the market without the proper preparation. Too often, I see sellers disregard easy steps like decluttering and staging their home. If they would’ve taken the extra time to do these things, they could very well see a higher purchase price and save time on the market. Real estate is like any other product — proper delivery is paramount to success."
Neglecting to make necessary repairs:
"Many homeowners who are planning on selling within a few months or years tend to put off maintenance because 'it won't be their problem for long,' but this can prove to be a costly mistake. Once you sell the property, you will have to disclose all known defects to a potential buyer. It's likely that the repairs will be more expensive to fix later and will come off the sales price of your home."
Investing in unnecessary upgrades:
"One of the biggest mistakes sellers make is investing into upgrades that a new buyer may or may not want. Remodeling a kitchen or bathroom can be a large undertaking and involves a lot of preference. Doing so right before selling rarely leads to a return in investment, especially when carrying costs during the renovations are considered."
Taking low offers too personally:
"Sellers who are trying to get top dollar for their property need to recognize that the buyers are trying to pay the least amount possible for that property. If a low offer comes in, try not to take it personally. It may be a starting point for negotiation or it may be an automatic 'no', but either way, it's important to keep a level head while making your final decision. "
Forbes