Top 10 Mistakes Home Sellers Make

February, 2014


Selling your home is no easy feat. You may think that any potential buyer would jump at the chance to buy the place that you call home. You may think that you live in a prime location or that you boast an incredible view or even extra large living space that would be ideal for anyone looking, but the reality is there are several mistakes that you most home sellers fall into without even noticing.

Top Mistakes by Homeowners

Mistake #1: Trying to sell an overpriced home

Sometimes homeowners over exaggerate their selling prices in hopes of getting the best deal possible. The only problem is that an overpriced house will most likely remain unsold simply because it does not match what the rest of market has to offer. Then when sellers realize that they have made a mistake and start to reduce the price they may become unpleasantly surprised that the interest in their property has already gone down. The reason for diminishing interest is that price fluctuations create a negative impression with potential buyers because it makes the seller seem like someone who is not really serious. Moreover when a property remains on the market for an extended period of time, its likelihood to get sold decreases as well. That is why it is crucial that homeowners listen to the advice of real estate agents who are aware of market rates, how to best price their property and ultimately make a sale.

Mistake #2: Showcasing a house that is overcrowded with people

If you are expecting a potential buyer to pay a visit to your home, then it's important to clear out family members. Nobody wants to walk into a place full of people watching TV in the living room, someone cooking in the kitchen and another enjoying tea on the balcony. It's a very uncomfortable situation for the buyer who quickly becomes emotionally disconnected and more than eager to walk out. This discomfort will make the visit very brief and won't give them a fair chance of really evaluating the house.

Mistake #3: Not maintaining your home

When a potential buyer walks in the house, the first thing that grabs his or her eyeis imperfections. Things like peeled paint, dripping faucets, grime on the bathroom tiles, broken windows etc. They are looking for ways to push the price down and when a home isn’t carefully maintained, you give them plenty of ammunition to shoot down your selling price.

Top Mistakes by Homeowners

Mistake #4: Not removing odors

First impressions happen only once. The minute someone steps in and smells an unpleasant odor like the smell of a pet, a garlic infused meal or even insect spray, they are already rethinking the visit. As they tour around the house they are still thinking how long the odor will linger after they have moved in. So before a buyer steps in, make sure to air the house out then step out for at least an hour and then walk back in and see how it smells like. If it’s fine then you are ready for a visit.

Mistake #5: Not keeping it clean

You are not just selling a home. You are selling an image and a lifestyle. So keep your home clean and spotless. Maintenance is one point but buyers need to walk in to a home that is spotless. Make sure nothing is out of place and everything is picture perfect. You will be amazed at how well this plays on a buyer’s perception.

Top Mistakes by Homeowners

Mistake #6: Not having enough light

Poorly lit rooms may be a big turn off especially if a buyer is visiting in the evening or after dark. It may even make the rooms seem smaller and unwelcoming. You cannot always guarantee that the visit will happen in the daytime so ensure that light fixtures are working and if needed add extra lighting just for the occasion. And if you are even more serious, repaint the room in a lighter color to reflect more light and make it even more inviting.

Mistake #7: Keeping a room closed and unavailable for viewing

When a buyer comes to view your home, they expect to see the entire space and imagine its functionality. So it is not a wise decision to keep a room locked even if you do use it just for storage. Not having access to even that one small space leaves them with an incomplete impression that will not work in favor of you making a sale.

Mistake #8: Ignoring professional advice

There is a general tendency to distrust real estate agents and with due cause. But if you hire a professional agency then now would be the best time to listen to their advice. Not only do they have a large portfolio of clients but also they are aware of market trends and home property values. Their commission might even be higher which is why they will ensure the highest value for you. The benefit even more from getting you the highest price so listen.

Mistake #9: Not disconnecting emotionally

The minute a buyer makes an offer that doesn’t please you, it’s easy to become emotional. It’s your home after all and you probably think it’s priceless. It’s an emotional situation but you need to refocus and look at it from a purely financial perspective after all it’s why you offered it for sale. Take a moment to remember how you felt like when you were shopping for your home. It was about getting the best price for the home that you wanted. These buyers feel the same. So take a moment to detach and think about it as a financial goal that you want to achieve. Another issue with not emotionally detaching is your tendency to overprice your house simply because you are not really ready to let it go. And as clearly indicated in mistake #1, which could be the death of the sale.

Mistake #10: Not acting friendly

Believe it or not, a lot of people care about how the seller carries his or herself. They want to be greeted at the door and welcomed into your home. If you treat them with indifference or unfriendliness they will factor this in their decision making process. However if you are friendly and welcoming you may strike them as someone they actually want to make a business deal with. It’s surprising how many business transactions actually happen when people feel at ease with their counterparts.

Now that we’ve listed the top 10 mistakes that homeowners usually make, we hope that we’ve lessened the stress of your home selling experience and if you need more consultation, please feel free to Contact us at 16088