These are the top five mistakes we’ve seen home sellers make that you should do your utmost to avoid.
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Here are the top five worst mistakes that sellers in the market have made:
5. Investing in unnecessary upgrades. This is especially bad if you do it right before you put your home on the market. It’s virtually impossible to get a 100% return on your investment, at least within the first several years. What’s more is that it really isn’t necessary today—with digital renderings, you can show a buyer your home’s potential in your marketing.
4. Not making necessary repairs. When a buyer puts your home under contract, they’ll order a home inspection. Now, you’re going to be negotiating both the size and the scope of the repairs that need to be made, so remember: If there are too many of these repairs, the buyer is going to worry about the overall condition of the home.
3. Taking lowball offers personally. This one is hard. Negotiations are part of the process, and many of our clients are just not comfortable with it, but that’s what your real estate agent is for. Therefore, listen to their advice; sometimes, lowball offers make really good contracts. The important thing is to remain unemotional. That’s how you make a great business decision.
Overpriced homes don’t get shown because they rack up too many days on the market, and by the time a buyer comes along, they’ll make a judgment about either your motivations or the real value of the house.
2. Not preparing your house for sale. Decluttering and staging are two of the most important things you can do to help you outshine your competition, both when buyers see it in person and when they view it online. They’ll not only get you more showings, but also quicker and better offers.
1. Overpricing your home. Sellers guilty of making this mistake often think that they can always just reduce the price later if need be. What they’re not thinking of is the fact that buyers comparison-shop. They’ll look in your price range and see that everything else appears to be a better value. Overpriced homes don’t get shown because they rack up too many days on the market, and by the time a buyer comes along, they’ll make a judgment about either your motivations or the real value of the house. This is also why overpriced homes typically sell for far less money than correctly priced homes.
If you have any questions about buying or selling or suggestions for future topics you’d like to see us cover, please feel free to reach out to us. We’d love to hear from you.