Top 10 Seller Mistakes
Don’t get in your own way of selling your home! Check out our Top 10 Seller Mistakes!
1. Not dealing with the needed repairs and improvements
You will lose money if you don’t take care of repairs before the house goes on the market. It’s not just the cost of the small leak that you’ll lose – if buyers have an impression that a home has not been maintained or cared for, they will have an overall impression of a lower value..and wonder what else has been neglected that they can’t see.
It’s always going to cost you less out of pocket to fix things ahead of time, rather than have buyers see your house in disrepair. We promise they’ll offer less or ask for a credit back after a home inspection for the work that needs to be done before the deal closes.
Good news: We take care of getting all those repairs and improvements completed for our clients AND we set up a pre-list home inspection so there are no surprises by the time you list.
2. Not trusting the Staging
We know YOU love your grandma’s chair and the art you picked up on your travels. But it’s not about your taste, it’s about getting the most money for your home.
Our team has prepared and designed hundreds of homes for sale. This is going to be blunt so prepare yourself..How many homes did you sell? Exactly. Don’t get in your own way of making the best impact and connection with buyers.
3. Being the biggest roadblock to people seeing your home.
Your goal is to sell your home but we completely understand that kids have to go to bed and you have to live in your home while it’s on the market.
We ourselves put a ‘no showings after 9pm’ rule when we sold. But not confirming a showing because you had a great night of The Good Wife lined up does not make buyers happy. Nor do buyers like viewing your home while you ‘quietly stay out of the way’ and at work in your home office. Think of it as an opportunity to get out and explore new restaurants, movie theatres and coffee shops instead possibly jeopardizing a sale.
4. Still reorganizing your closet when the staging team shows up.
Although we can help you with the overall organization and layout of your home, only YOU can sort through your particulars in your closets and decide which toys should stay instead of going to storage.
When we show up to stage the house, it’s time to work our magic to make you home one buyers will instantly fall in love with.
If the home isn’t ready, the time our team could be using to do more for your home will get taken up with clean up. Plus, it’s really hard to layer a bed covered in the contents of your closet!
Make sure it’s a fresh canvas ready to go!
5. Not taking the first offer on your home seriously.
Most of the time, your first offer is your best offer. Generally speaking, the potential buyer who makes the first offer is highly motivated and ready to do business. The first offer might be lower than you’d like, but that’s what negotiations are for.
You can hold off in the hope of a better offer, but many times properties sit on the market too long growing “stale” because the seller didn’t work with the first buyer. Three months later, the seller ends up taking less than the first offer they received. By this time, that first buyer has already bought and moved on. The seller is kicking themselves for not making it work.
6. Letting your ego get in the way
So many times sellers take the points of negotiation personally like a buyer saying they’ll put an offer in but the master bedroom is a bit too small. They lose sight of the end goal which is to sell their home. This is why you have an agent – to keep this a business transaction – perhaps the biggest one of your life. Even when we sell our own homes we have one of our agents represent us – it’s amazing how emotional it can get so try to take your ego out of the process and keep your goals in focus.
7. Not having incredible photos and staging
94% of buyers start their search online so if your home does not look the best, they will pass on by with one easy click. It’s incredible how many listings we see on MLS with photos that were clearly taken with someone’s phone. Or $2M+ listings with master bedrooms so stripped down and cold with barely a pillow on the bed.
We have invested in over 3,0000+ square feet of staging inventory and consistently layer rooms for a ‘lived in’ feeling that buyers can emotionally connect with. Not to mention we only use professional real estate photographers and create a unique property website for all of our clients’ homes. And the proof is in the results – our homes sell faster and for more money than average.
Make sure your home shows the best and is represented the best possible way at a professional level. You only get one chance to make a first impression.
8. Overpricing your home
It’s tough to digest this one when homes are selling like hot cakes and you hear of places going $100,000 over ask. But the reality is, most of these homes were priced close to or under value to begin with.
When buyers are looking at homes on the market they are comparing yours. Take your emotional house pride out of it, or the perception that your home is ‘special’. If your home is not materially justifying the price, buyers will move on to one that does. By the time you realize that showings are not happening the way they should and you have to reduce your price, you may miss out on a surge of interest in properties like yours, and buyers may wonder if there’s something wrong with the property that kept other buyers away.
Don’t fall into the overpricing trap. It will cost you more in the long run.
9. Unpleasant Odours
A home that is beautifully staged and presented is irrelevant if buyers can smell your wet dog or your scallops from last night’s dinner. Scent is one of the most powerful senses and people will have a visceral reaction if there is something off-putting. It’s a delicate conversation to have with clients but necessary.
You also don’t want to over-mask odours with too many air fresheners. This can be equally offensive. We personally avoid cooking anything too powerful while the home is listed, keep animals out of the house entirely if possible, and open up all the windows for an hour prior to showings or open house days. The basic smells of laundry or baking are popular…tucking a few dryer sheets in the couch or under rugs can go a long way for a subtle but fresh smell.
10. Picking the wrong agent
Your cousin is a real estate agent so you decide to list with him. We see it all the time. People are taking their biggest investment and putting into the hands of someone without paying any attention to their experience, track record, and often times the agent isn’t even in the area and has no knowledge of the local market.
Even if you are considering your relative or buddy, we suggest interviewing more than one agent. At least then you’ll know what you’re comparing them to.
Don’t be afraid to ask them tough questions – what services can you expect, what is included and not included, what is their marketing strategy, how well do they know the local market, have them present a Comparable Market Analysis with their price recommendation and why they are a better choice than anyone else? There are good real estate agents and bad real estate agents – take the time and effort to pick the right one.
Thinking of buying or selling this year?
Don’t worry – we’ll help you avoid all of these pitfalls 🙂 Contact us today to learn how we can help you from beginning to end with every step.
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