In a buyer's market, selling a home can be a tricky proposition. Homeowners must walk the fine line between being gracious hosts and assertive salespeople when attempting to make the sale. By understanding the most common mistakes that sellers make, you can sell your home quickly and make the most profit.
Skipping Seller Prep
You will need to make your home sparkle and shine in order to attract the most buyers. Have the lawn professionally landscaped and manicured, give the exterior a fresh coat of paint or cleaning and have the interior thoroughly cleaned. Buyers need to be able to picture their own belongings in your home, so clear away clutter and personal effects before showing. Family photos, trophies and knick-knacks hurt sales, so tuck them away before showing your home.
The same applies to children and pets. You may love your dog, but prospective owners may be allergic to pets or concerned that the house has been soiled with pet waste. Avoid using any fragrances like air freshener, perfumes or scented candles when showing your home. One scent, however, is a favourite of buyers, sellers and agents---that of freshly baked cookies. Pop a batch in the oven before buyers arrive.
Neglecting the Home Inspection
The home inspection process is vital to both the buyer and the seller. By having your home professionally inspected, you will be able to accurately price your home and negotiate repairs with your buyers. Having a home inspection performed means there will be no surprises when it is time to sell. You don't want your buyer to find out about the leak in the roof before you do.
Even small items in need of repair can make buyers lose faith in the quality of your home. Loose railings, missing door knobs and peeling paint can signal a neglected home, and many buyers will simply move on to a different house. Make small repairs and have your home inspected thoroughly to ensure buyer confidence. One thing to keep in mind: a home inspection is different from a home appraisal.
Sinking Too Much Into Improvements
While it is true that upgrading your home can increase its value, many homeowners embark on expensive remodelling projects that don't ultimately pay off. Having a $50,000 kitchen built may not always mean a $50,000 increase in price. On the flip side, avoid embarking on do-it-yourself projects in order to save money. Some people convert spare bedrooms into playrooms, offices and gyms. This can actually decrease the price you're able to ask for your home.
Swimming pools, outdoor kitchens and any other improvements that require constant upkeep can also decrease the value of your home.
Selling Too Hard During Showings
Using the "hard sell" approach during showings often backfires. Some homeowners that the prospective buyers around, pointing out all of the features and upgrades of the home. This can often make the buyers uncomfortable, like they are intruding in your personal space. Couples who tour homes together are also less likely to discuss the home if you are hovering over them.You want the buyers to feel like the home is already theirs. Open the door for them and allow them to tour unescorted. Have a seat in the backyard or on the front porch and stay out of earshot. Home buyers will often gush over a home and get more emotionally invested if they are alone while they tour. Let the home "sell" itself. A "hard sell" can backfire and cost you the sale.
When it comes to getting the best price for your home, avoiding common seller mistakes is crucial. By pricing your home correctly, staging it for buyers and avoiding the hard sell approach, you will enjoy the quick sale of your home.
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