Today’s real estate market is very competitive. As a first-time home seller chances are, you’ll find the whole process riddled with a lot of confusion. With economists predicting a major
How To Blow Up Your Home Sale
Everybody that wants to sell their home wants the same thing: to sell their home for the most money possible and as quickly as possible. This is exactly what we, asyour real estate agents, want as well. That said, there are three things that can keep this from happening: location, price and condition. Location, price and condition are always the deciding factors for buyers, and they also affect the amount they may offer on your home. Unfortunately, you cannot change the location of yourhome. However, you are in total control of the listing price and the condition of your home when you decide to sell it. Let's take a look at the top five mistakessellers make that can blow up a home sale.
Mistake # 1 is thinking your house is special.
As a homeowner, you are proud of your home. You might even feel that your home is superior to all of the other homes in your neighborhood. This might be because of thetime and money you spent remodeling it. You may assume that if you spend a lot of money on bells and whistles, that this has to make your home worth more, right? The answer is "maybe." Buyers are looking at your home, trying to envision it as their home. They’re also mentally calculating how much money they'll need to spend to do updates they feel they need to make the home their own. You must understand that your house may not be special to anyone but you, so it’s always best to cater to buyersby showing them your home’s cleanest, most neutral face. You need to clean your home until it shines, get rid of the clutter, paint, make needed repairs, and keep upwith your landscaping. You also need to trust your real estate agent (not Zillow) on where to price your home.
Mistake # 2 is believing you’re a salesperson.
As a seller you may think you’re being helpful by sticking around during showings to help agents and potential buyers see the features of your home. You might alsothink the buyer’s agent can’t possibly know how to showcase your home as well as you can. But, you may actually be hurting your chances of selling your home by beingpresent during showings. The honest truth is the best thing you can do is vacate the home during showings and give the buyers some space. Buyers want privacy. They don’twant to feel rushed when making the most expensive purchase of their life.
Mistake #3 is expecting they will come back.
Imagine you had a long day at work. It’s a hot day and your car’s air-conditioning isn't working well. Your kids are fighting and everyone is starving. Then, yourphone rings and it's your realtor calling with a last-minute showing request. You have two choices. The first is to plead for the showing to be rescheduled, becauseyou assume the buyers and their agent will rearrange their schedule and come back. Or, second, remind yourself that you want your home sold, and these buyers may onlyhave this time to see your home because they’re relocating from out of state and need to make a decision quickly. If at all humanly possible you should always choosethe latter. No matter how you feel or what kind of day you’re having, try to be accommodating. Home buyers will rarely come back at a time that is better for you.
Mistake #4 is not being willing to negotiate.
So, you get an offer on your home, and you accept it. This is exciting because it means all the showings will be over and you’re roughly 30 days away from closing.However, after the home inspection, the buyers may ask for some repairs to be made or ask you for a seller credit for closing costs. This is where you, the seller,need to think about meeting in the middle. Otherwise, you risk your deal falling apart. Sure, you can always re-list your home, but you’ll have to deal with moreshowings and keeping the house looking spotless. Please remember that this "pending sale" on your home has contingencies, including; the appraisal and the homeinspection. Both may require you to be flexible and willing to negotiate. Once you secure an interested buyer you need to trust your realtor and work with them to getyour home sold. Try not to waste time bickering over some repairs or a seller credit to get the deal done.
Mistake #5 is Pets
I know it is hard to believe but not everyone is a pet lover. Many people are allergic to cats or dogs or have sensitive noses that can smell urine and stinky litterboxes the moment they walk in your front door. When you’re selling your house and you have pets, you really need to make the home look and smell as if you don't haveany pets. The food bowls, pet toys, pet beds and scratching posts should be out of sight too. You should also remove the fur babies themselves. Before you leave,make sure your backyard is free of landmines. You may as well put Toonces’ litter box someplace out of sight and smell too. When a buyer leaves, they’ll remember theirfirst impression, so you want it to be a good one. Pet odor can be a deal breaker, even if everything else about your home is perfect.
In summary, your home may not be particularly special to anyone but you, so keep it clean and showing beautifully and as neutral as possible at all times. Don’t try tobe the real estate agent (i.e., be sure to leave the house during showings), and it is best to take your pets with you. Don’t assume that buyers will come back to seeyour home and work with your schedule. Remember, also that even in a seller's market, you may need to be flexible with negotiations. If you follow this advice, youshouldn’t have a hard time selling quickly and you’ll avoid the unnecessary stress that many sellers endure because they become their own worst enemy by blowing uptheir own sale.