Top 5 Home Seller Mistakes

At last, you’ve decided to sell your home. You’ve figured that waiting for the economic situation to get better is getting you nowhere. With the prices plunging and people going after the lowest buys, you’ve realized that things could get even worse. The uncertainty keeps looming ahead. But don’t go ahead and sell your home just out of fear. The biggest mistake you could ever make is to sell your property at an excessively low price, thus wasting away its good value.

So before you place a “For Sale” sign on your front lawn, take the time to learn from experts, read on the current market and real estate trends, and most of all, know what you should avoid doing in order to land the best deal for your home.

Here are common mistakes that many home sellers make:

1. Not knowing what buyers want.
Stepping inside the shoes of a buyer is always a helpful tip for any seller. Imagine that you are the buyer of the home you are selling. Would you buy it? Does it look nice, clean, and built to last? Is the price reasonable? Is there anything that’s lacking? Once you train yourself in this perspective, you will learn to ask yourself all the helpful questions that would make your home appealing to many buyers.

2. Getting the wrong real estate agent.
Many sellers fall victim into the hands of the wrong agent. Take time to look for the ideal and trusted one. Ask around. Once you have narrowed down your choices, compare them in terms of track record and their list-price to sell-price ratio. Ask how them how they are going to market your home and set it apart from similar listings in your area. You deserve an agent who can sell your property to the right buyer at the best deal.

3. Poor listing and advertising.
If you present your home to prospective buyers over the Internet, present it in the best way possible. Take lots of great photos of your home, possibly every area. This is your first chance to invite the buyer to take a peek inside your home. If there are areas, furniture and fixtures that need repair or replacement, do it early. A complete overhaul is not necessary, a refreshing appearance will do. Check if the walls need repainting, if the yard needs trimming, if the bathrooms need new accessories, if the living room needs rearrangement, and so on. See your home with fresh, new eyes so that you will be able to advertise it well and compete against other similarly-priced homes.

4. Failing to Offer Incentives.
There are lots of homes on the market right now, so you need to make yours stand out. Lowering your asking price is one way to help buyers take notice. Other perks such as a home warranty, a $1000 painting or flooring allowance or pay a year’s worth of dues at a local golf or swim club can sway a buyer your way.

5. Overpricing and non-negotiability.
Buyers go to websites such as Zillow.com and Trulia.com to get an automated and estimated pricing of properties. If your listed price is way too high compared to the valuation results, the buyers would most likely look for other properties. In order to avoid this, look around for similar homes in the area and find out how much they were sold. Keep your price reasonable and close to comparable homes in your area. Be open for negotiation even if you get a low ball offer, by giving a realistic counter-offer. This way the real negotiation can begin.

Related posts:

1. Top 5 Mistakes First-Time Homebuyers Make