Avoiding the 5 Biggest Mistakes Home Sellers Make
Selling your home is exciting, exhausting, and a little bit scary. Your aim is to end up with a quick sale for the most money possible and the least stress possible.
(That may cost you big bucks!)
Arm yourself with our smart strategies and tips to get the most out of your purchase and avoid making the following costly mistakes, which could put a hold on that sold sign. These are true whether you are selling a condo, moving to a larger home, or thinking of downsizing!
1. Improperly preparing your home for sale. Some of the biggest turn-offs for buyers are hard to remove odours like cigarettes, strong pet odours or strong cooking smells. In addition to issues with hard-to-clean odors, some sellers have a hard time decluttering their home so it can always be ready for showings. Other things that can deter buyers from offering a reasonable price or selling quickly are:
a. Personal photos or religious items
b. A dirty home
c. Lack of curb appeal
e. Dated light fixtures
f. Visible lack of home maintenance
g. Mis-matched appliances (or old appliances in a renovated kitchen)
2. Overpricing your home. Knowing what a reasonable range of similar houses sell for & pricing it right is key. Your Realtor’s job is to get you an offer. To do that, buyers need to see it & get excited. If a home is overpriced buyers will not come and you will not get an offer!
3. Being home for showings or Open Houses Buyers need to visualize themselves living in your home. Give them space by leaving during showings or Open Houses! Also if you’re not there you won’t be tempted to say things that might impact your sale.
4. Needing to get a specific sale price If financial pressures mean you have to get a certain price to sell or are just ‘testing the market’, it will be harder for you to get your home sold unless you are in a very strong sellers market. Know recent comparable sales, prepare your home properly & be realistic about market expectations.
5. Expecting a specific return on renovations Thinking a home improvement expense is going to add an equal dollar value to the home could be a mistake. If you are going to do any renovations to sell make sure:
· you appeal to current buyers tastes
· have them done professionally
· don’t under or over improve for the area