MISTAKE #1––WRONG PRICE.More than any other factor, the right price sells a house. When the listing price is more than 5% over market value, experience shows that the price alone discourages buyers. An overpriced house scares away potential buyers who think they can’t even afford to look. Buyers who do look at an overpriced house know they can get more house for their money somewhere else.
MISTAKE #2––AS IS WITH NO FIX-UP.It’s a competitive market, and very few buyers are interested in a “handyman” special. Bottom line is that a sparkling showcase home gets top dollar! What most buyers want is an inviting home in move-in condition––a “model” home. Buyers who are willing to tackle repairs and fix-up automatically subtract the cost of the needed repairs from their offering price. Either way, you save nothing by putting off fix-ups, and are likely slow the sale of your house.
MISTAKE #3––NO CURB APPEAL.Your house gets only one chance to make a good first impression. “Curb Appeal” is one of the most critical points in selling. Buyers fall in love at first sight––or not at all. The most perfect floor plan or the most tasteful interior cannot make up for lack of curb appeal. Spruce up the view of the house from the street, and pay special attention to lawn, shrubs, shutters, windows, front door, mail box––add potted flowers out front, a wreath on the door, brass outdoor lighting fixtures––whatever it takes to enhance your home’s “pick me” look.
MISTAKE #4––DREARY ROOMS.Buyers want a clean, bright decor. Your best dollar-for-dollar investment for selling you home fast is fresh paint. Neutral colors are best. Next to fresh paint, new carpeting makes a big difference. A little elbow grease can be as effective as spending cash to brighten your home. Get rid of accumulated junk and too much furniture. Clean each room top to bottom––you can make your home look better than it’s ever looked before. The three most inspected areas are: the kitchen, master bedroom, and garage––focus on them. The kitchen should have clear counters, uncluttered cupboard, a clean oven and refrigerator.
The master bedroom needs to look spacious and clean. The ideal garage stores only cars, and perhaps an orderly display of garden tools. No clutter.
MISTAKE #5––OVER IMPROVING.Balance whatever needs fixing and cleaning with considering a major project which could cost more money than you would 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. Of course, some major projects, such as roofing, 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. Consider accepting FHA and VA financing, offering seller financing, paying closing costs or points, providing a decorator’s allowance, or other buyer incentives––be flexible.
MISTAKE #7––DO IT YOURSELF.Going it alone 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 and the listing agent. You’ll find agents do a lot more than most people know––from bringing qualified buyers, to keeping things on track to settlement.
MISTAKE #8––ALWAYS BE HOME.Prospective buyers will feel like intruders if you and your family are always home. If you are at home when it 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 should focus on your home by viewing it and not socializing. If an open house is scheduled, plan to be away from home, but leave instructions on how you can be reached quickly. If other agents leave their business card, tell us, and we will follow up.
MISTAKE #9––BOXING GLOVES NEGOTIATIONS.Approach negotiations in a positive frame of mind, not as an adversary of 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 your agent. We’ll make it our business to get you the best deal.
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