Last week, we discussed mistakes that home buyers may make when purchasing a home.
This week, it is the home sellers’ turn. Here are some of those mistakes.
Not pricing to the market — The market and comparable sales dictate where a home should be priced.
We frequently hear, “let’s try it at this price and see what happens.”
Unfortunately, nothing happens.
The most important marketing days for a home are the first six weeks it is on the market.
If it is overpriced, it will turn away buyers.
If it languishes on the market for a period of time, the listing may become stale.
In this market, we have also seen home sellers chase the market down with their pricing strategy and eventually make less money than if it had been priced properly at the beginning.
Clutter — Pack away the personal treasures in anticipation of a move and store them out of the way. Stage a home so that a buyer can envision themselves living in the home.
Emotion — On occasion a home seller will get a low-ball offer. Some sellers may take this personally and refuse to respond or negotiate further with a buyer.
A home seller should take the emotion out of the transaction and begin the negotiation process. Just as a seller may want to test the waters as previously described, so may a buyer. However, by responding to all offers, a sale may be consummated.
Deferred maintenance — Sometimes when selling, there is an attitude of “let the next guy fix it.”
Your home is competing with other homes on the market. A home’s first impression as the buyer pulls up the driveway is extremely important. Consider what a fresh coat of paint and a landscape tune-up will do to enhance your home’s curb appeal.
Accessibility — Home sellers should always have their home “ready to show.” A buyer may want to see your home at a moment’s notice.
It would be unwise to turn down a showing because that buyer may be the one that falls in love with the home. Additionally, some sellers may be opposed to the realtor’s key safe. The easier and more accessible your home is, the better the chance it will sell on a timely basis.
The biggest error a seller can make is to be present when the home is being shown to buyers.
Buyers may not be at ease when the owner is present and will often hastily exit without giving the home a chance. A seller who shadows the realtor and the buyers to explain the minute details of the home is even more intimidating. A half-hour walk or going for a cup of coffee will give the buyers ample time to explore and discuss the benefits of buying your home.
Ray Pugel is a designated broker with Coldwell Banker Bishop Realty. Contact him at (928) 474-2216.