If you're serious about selling your home, it’s critical
before you sign anything — to know how to successfully
sell in today’s market. The secret sounds so simple.
(Maybe that’s part of the problem!)
To beat the competition today, you simply must avoid
the mistakes sellers are most likely to make. Then you'll
sell faster and get the best price, too!
Here are the 10 most common mistakes sellers make —
but you can avoid:
MISTAKE #1. Wrong Price.
MISTAKE #2. As-Is Condition. MISTAKE #3. No Curb Appeal.
If your home lacks curb appeal, chances are the first
impression will not be counteracted by the most perfect
floor plan or the most tasteful interior. Spruce up the view
of the home from the street, including lawn, shrubs, shutters, windows, front door, mail box. Add potted flowers out
front, a wreath on the door, brass outdoor lighting fixtures — whatever will enhance your home’s “buy me” look.
MISTAKE #4. Dreary Dungeon Cells.
Elbow grease can be as effective as spending cash to
brighten your home. Start by ruthlessly getting rid of the
junk you've accumulated. Clean each room top to bottom.
Dare to make your home look better than you've ever had
it looking before.
Focus on the three rooms most inspected — kitchen,
master bedroom and garage (if you've got one). Forget
those and you may as well forget the buyer, too. In the
kitchen, clear off counters and unclutter cupboards.
Keep in mind, some prospects will judge the whole home
by the cleanliness of the oven or refrigerator. In the master
bedroom, move or remove furniture to create spaciousness. The ideal garage stores only cars and perhaps an
orderly display of garden tools, so throw out your junk to
show off room for theirs.
MISTAKE #5. Lavishly Over-Improving. MISTAKE #6. Inflexible Financing. MISTAKE #7. General Custer Syndrome. MISTAKE #8. Always Be Underfoot.
If an open house is scheduled, plan to be away from
home, but let us know how to reach you quickly. When
you're not at home at other times, agents accompanying
prospects will leave their business card. Please alert us
afterward so we can follow up.
MISTAKE #9. Put Up Your Dukes. MISTAKE #10. Let A Buyer’s Contract Languish.
Experience shows the right price sells a home faster
than any other factor. When the listing price is more than
5% over market value, the price alone discourages buyers.
That’s because an overpriced home scares away-potential
buyers who think they can't even afford to look. Buyers
who do look at an overpriced home know they can get
more home for their money elsewhere.
In today’s competitive market, most buyers will not
even consider a home that needs fix-ups. In contrast, a
sparkling showcase home gets top dollar when it comes to
the bottom line. What most buyers are looking for is an
inviting home in move-in condition, one that looks as good
as a model home. Buyers who are willing to tackle the
repairs after moving in automatically subtract the cost of
needed fix-ups from the price they offer. Either way, you
save nothing by putting off fix-ups and likely slow the sale
of your home.
Your home gets only one chance to make a good first
impression. That’s why “curb appeal” is one of the most
critical points in selling. Buyers are apt to fall in love at first
sight — or not at all.
A clean, bright decor is what buyers want.
Probably the best dollar-for-dollar investment for selling
your home fast is fresh
paint. Neutral colors are
best. Next to fresh paint,
new carpeting — replaced
for either condition or
color — makes a big difference.
While it’s important to fix whatever needs fixing to get
your home ready for sale, undertaking a major project
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. (Some major projects, however, like
replacing a roof, should be done if they are needed.)
The more buyers you appeal to in terms of financing,
the greater your chances of selling faster. Be flexible.
Consider accepting FHA and VA financing, offering seller
financing, paying closing costs or points, providing a
decorator’s allowance or other irresistible buyer incentives.
Going it alone like General Custer 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 home 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.
The presence of your family can make prospective
buyers feel like intruders. If you're at home when your
home is being shown, be your usual friendly but low key— self and keep children and pets out from underfoot.
It’s the agent’s job to show buyers what they need to see.
Buyers can better focus on your home’s advantages by
viewing them than by socializing.
No one wins if you enter negotiations with boxing
gloves on. Instead, 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.
One of the most important moves you can make is
to reply immediately to an offer. When buyers make an
offer they are, right then, in the mood to buy. Moods,
as you know, change, and
you don't want to lose
a sale because you
stall in replying.
E-Mail Laura at: laura@lauragilley.com today!