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SELLING: HOW TO AVOID THE 10 BIGGEST SELLING MISTAKES
If you're serious about selling your house, it's critical - before you sign anything - to know how to successfully sell in today's market. The secret sounds so simple. (Maybe that's part of the problem!)
To beat the competition today, you simply must avoid the mistakes other sellers are most likely to make. Then you'll sell faster and get the best price, too! Here are the 10 most common mistakes other sellers make - but you can avoid.
MISTAKE #1. Wrong Price
From experience, I know the right price sells a house faster than any other factor. When the listing price is more than 5% over market value, the price alone discourages buyers. That's because an overpriced house scares away potential buyers who think they can't even afford to look. Buyers who do not look at an overpriced house know they can get more for their money elsewhere.
MISTAKE #2. As - Is Condition
In today's competitive market, most buyers will not even consider a house that needs fix ups. In contrast, a sparkling showcase home gets top dollar when it comes to the bottom line. What most buyers are looking for is an inviting home in move-in condition, one that looks as good as a model home. Buyers who are willing to tackle the repairs after moving in automatically subtract the cost of the needed fix-ups from the price they offer. Either way, you save nothing by putting off fix-ups and likely slow the sale of your home.
MISTAKE #3. No Curb Appeal
Your house gets only one chance to make a good first impression. That's why "curb appeal" is one of the most critical points in selling. Buyers are apt to fall in love at first sight - or not at all. If your home lacks curb appeal, chances are the first impression will not be counteracted by the most perfect floor plan or the most tasteful interior. Spruce up the view of the house from the street, including lawn, shrubs, shutters, windows, front door and mail box. Add potted flowers out front. A wreath on the door, brass outdoor lighting fixtures - whatever will enhance your home's "buy me" look.
MISTAKE #4. Dreary Dungeon Cells
A clean, bright decor is what buyers want. Probably the best dollar-for-dollar investment for selling your home fast is fresh paint. Neutral colors are best. Next to fresh paint, new carpeting - replaced for either condition or color - makes a big difference.
Elbow grease can be as effective as spending cash to brighten your home. Start by ruthlessly getting rid of the junk you've accumulated. Clean each room top to bottom. Dare to make your home look better than you've ever had it looking before.
Focus on the four rooms most inspected - kitchen, bathrooms, master bedroom and garage. Forget those and you may as well forget the buyer, too. In the kitchen, clear off counters and unclutter cupboards. Keep in mind, some prospects may judge the whole house by the cleanliness of the oven or refrigerator. Bathrooms must be spotless. In the master bedroom, move or remove furniture to create spaciousness. The ideal garage stores only cars and perhaps an orderly display or garden tools, so throw out your junk to show off room for theirs.
MISTAKE #5. Lavishly Over - Improving
While it's important to fix whatever needs fixing to get your home ready for sale, undertaking a major project could cost more money than you could recover from the sale. Spending too much on remodeling projects just drains money out of your pocket. If your improvements will push your home's value more than 20% over the average neighboring home values, don't expect to recoup the entire cost. (Some major projects, however, like replacing a roof, should be done if they are needed.)
MISTAKE #6. Inflexible Financing
The more buyers you appeal to in terms of financing, the greater your chances of selling faster. Be flexible. Offering seller financing or an interest rate buy-down, pay closing costs or, provide a decorator's allowance or other irresistible buyer incentives.
MISTAKE #7. General Custer Syndrome
Going it alone like General Custer could invite disaster. Without a professional advisor, you probably won't sell. Even if you do sell, surveys show self-sellers often net less from the sale than sellers who use a real estate agent. Selling a house is a team effort between you as the home seller and me as the listing agent. You'll find agents do a lot more than most people know - from bringing qualifies buyers to keeping things on track to closing.
MISTAKE #8. Always being underfoot
The presents of your family can make prospective buyers feel like intruders. If your at home when your home is being shown, be your usual friendly - but low key - self and keep children and pets out from underfoot. It's the agents job to show buyers what they need to see. Buyers can better focus on your home's advantages by viewing them than by socializing.
MISTAKE #9. Put Up Your Dukes
No one wins if you enter negotiations with boxing gloves on. Instead, approach negotiations in a positive frame of mind, not as an adversary for the buyer. After all, you both want the same thing - a sale. Leave most of the discussion of price, terms, possession and other conditions up to me. I'll make it my business to get you the best deal.
Mistake #10. Let The Buyer's Contract Languish
One of the most important moves you can make is to reply immediately to an offer. When buyers make an offer they are, right then, in the mood to buy. Moods, as you know, change, and you don't want to loose a sale because you stall in replying.
WE'LL WORK TOGETHER
Let me help you sell your house without a mishap. Working together, we'll avoid the common - and not - so - common - mistakes sellers often make. I can also advise you on the purchase of a new home. Please feel free to call me at 604-783-0778 with all your real estate questions.
