5 Big Mistakes Sellers Are Making
Learn How To Avoid Them
Everyone knows the current real estate market across the nation is a buyer’s market. And that is not necessarily a bad thing. When the real estate market in your area is more of a buyer’s market, that doesn’t mean that your home won’t sell; it just simply means that you, as a Central Ohio home seller, need to be careful to avoid these huge mistakes that many home sellers without expert Central Ohio real estate agent advice are falling into.
Check out the following mistakes you must avoid and learn my expert advice on how to make your home competitive and attractive to home buyers. Being in a Central Ohio real estate buyer’s market isn’t bad, it just means that you need to take the extra bit of time and effort to get your home ready to showcase its best assets.
Top Home Seller Mistakes
These mistakes will cost you a sale, every time.
1. Over Pricing Your Home.
This really can be the kiss of death to your Central Ohio home selling goal. I know you want to get the most for your home and it can be hard if your equity has plummeted because of the economy, but over pricing your home will not get you a sale. Instead, your home will sit forever on the market, people will start to wonder what else might be wrong with it, and buyers will quickly assume that you will be getting desperate for any offer after months and months on the market.
Thus, Central Ohio real estate buyers will go even lower on their offer than they might have originally. If you precisely price your home the first time, taking in value points for the current market, your amenities, your neighborhood and even the street in your neighborhood, you will be in a much better position to get a strong offer within the first week and your negotiation position for items such as any repairs, and closing costs is also much stronger.
Get the proper pricing for your Central Ohio home for sale by signing up for our FREE Central Ohio Real Estate Market Analysis.
2. Choosing The Wrong REALTOR® Will Cost You.
Because it is a buyer’s market, it is essential to have your home correctly priced, and this can even be as important as pricing slightly differently depending on what street in your neighborhood you live.
Is your house:
- Close to the pool?
- Closer to the road?
- On the biggest corner lot?
- On a smaller, but more private lot?
All these details can make a difference when it comes to the price of your home, and only a true expert REALTOR® will be able to precisely determine what every single aspect of your home can bring to the table for a home buyer. A well established expert Central Ohio REALTOR® will also know down-to-the-minute details on the current market conditions all around your area and neighborhood and will be able to analyze what price point your house can demand of current home buyers to get your home sold.
When choosing your Central Ohio REALTOR® you of course want to go with someone that has been practicing real estate in your area for a number of years. Find someone that demonstrates knowledge of your area, expertise in the entire real estate process, displays strong marketing skills and, most importantly, with whom you can communicate well.
3. Not Leaving Your Home During A Showing.
If there is one thing that will kill a home sale quicker than mispricing, it is staying in your home while home buyers tour it. It may seem reasonable to want to be there - you want to hear what the home buyers are saying, what they think, and perhaps even make sure they don’t break any of your things. If you are truly serious about selling your home though, you will get out and let the home buyers envision themselves living there. In all my years of real estate, the biggest turn off for home buyers has not been the pink wall paper, but the home owners that stayed in the home and followed them around talking about their home.
If you, the home owner are there, home buyers will feel more like guests, they will feel a bit uncomfortable looking at closet and kitchen space and they will be disinclined to talk about things they don’t like, because they are thinking of it as your home, not their home. Thus, they never discuss the ideas that could change what they had disliked into something they would like. If they have never taken wall paper down, they may be under the impression that doing so will damage drywall and cost lots of money - a simple comment to their REALTOR® may open the discussion and then they will learn that there are many products are on the market to make wall paper removal quick and painless.
4. Talking To The Buyer Or Buyer’s Agent And Giving Wrong Information Or Bad Impressions
First impressions are everything - and they can’t be redone. Once a home buyer gets a first impression of your home, that impression will stay with them.
By mentioning the very noisy neighbor, talking about the trouble you’ve had with the A/C, or even just accidentally mentioning something you think is an HOA rule, but actually isn’t - such as stating that there can’t be sheds in the yard may jeopardize a potential offer, and therefore talking to the Buyer or Buyer's Agent is not advised. Such a mistake could make a home buyer not interested in your home and they may not take the time to fact check what you tell them about the HOA rules. They will probably just move on to the next home for sale.
Need help? Take advantage of our FREE Central Ohio real estate advice with an in home presentation to learn how The Raines Group will market and sell your home.
5. Not Staging Your Home
Staging can make or break setting your home apart from others on the market. When preparing your home to sell, be sure to keep the following in mind:
- Take down all personalized items such as family photos, heritage and religion specific items.
- Clear out as many items as you can to showcase each room to its fullest potential.
- Stage with neutral colors.
- Clean or replace carpets, paint walls, and use neutral colored decorative items.
Make your home as much of a clean slate as possible, so home buyers can easily envision their items in your home.
If you have an oddly shaped room, staging can help home buyers see the functionality and purpose to a space and give them a starting point for their own decoration ideas. Staging also comes across a lot better in online searches. It is always more fun to look at a nicely decorated room with furniture that can help you sense the size and space, instead of just an empty space of carpet and walls. An expert REALTOR® will be able to recommend staging services and advice to you.
I hope these pointers have helped you get your home ready to sell. Even though you have emotional attachments and memories to your home, remember that it is an investment and you want to get every penny you can now that you are ready to sell and make new memories in your new home. Avoid these mistakes and you will be well on your way to hanging a “sold” sign. To learn more about our marketing plans, what our expert Central Ohio REALTOR® team can do for you, or to see what other resources we offer home sellers, contact The Raines Group today.