Today, we’d like to talk about some common mistakes made by sellers. We’d also like to share the three most common problems we’ve seen and give you some advice on how to avoid them.
1. Make sure your home is priced correctly. Unfortunately, the information you get online is not always accurate. This is why it’s so important to hire a professional agent, so that you don’t overprice your home when you put it on the market. Overpriced listings will sit unsold on the market for a while. Then when they do garner offers, they often come in below market value. If a house sits for too long, potential buyers make these lowball offers because they will perceive the seller as desperate and willing to take a bid below market value. Overpriced listings sit on the market unsold, and then when they do garner offers, they often come in below market value. If a house sits for too long, potential buyers make these “lowball” offers because of the perception that the seller might be desperate and willing to take a bid below market value.
2. Make sure your home is well-advertised. For our agency, advertising isn’t a problem. We know how important advertising is in order to successfully sell, and we work hard to ensure our properties are well-exposed. But we’ve seen other listings falter in this regard. The days of putting a sign out front and putting it on the MLS are long gone! In today’s market, it’s necessary to retain professional photography and a robust web-based presence. All effort must be made to draw interest to your property from outside your area. The average real estate agent spends about $250 monthly on marketing. That’s nowhere near enough to expose a property adequately in order to get the right buyer to your doorstep. Our own marketing budget of $9,000 per month insures that the properties we list are exposed not only professionally, but extensively.
3. Make sure your home is presentable. Whenever your house is being shown, whether it’s for photographs, for open houses, or for individual appointments, your house has to be presentable. When a buyer sees your house, they have to feel like it’s move-in ready. It has to feel homey and comfortable. Make sure your home is fresh and clean. Make sure it smells clean, pathways are clear, and it’s bright. Don’t give a buyer an opportunity to start digging away at your price point. Also, many buyers are not able to see potential, and while a good real estate agent will do everything to help them, it’s always better for a buyer to walk in and feel at home in your property as it is. To this end, it’s smart to really declutter your property by putting as much as possible in the garage, if possible. Buyers generally focus on the living space, not the garage. Presenting a clean property is so important to selling successfully that we offer a professional cleaning staff that will thoroughly clean each of our properties before it’s photographed or shown.
For more information about buying or selling a home in today’s market, feel free to drop us a line. We love talking to buyers and sellers, or people just looking for answers to questions about today’s market. You can reach us at (209) 834-2680, or online at email@example.com or firstname.lastname@example.org.