Sellers Most Commonly Made Mistakes
The Most Common Mistakes Sellers Make
- The first common mistake is not truly analyzing why you are selling and then keep it to yourself! Are you in a rush because you are being relocated? If this is the case, it's even more crucial that you hire the "right" agent. How do you do that? You find out what agent has the stats for a low number of days on the market before receiving offers. With Signature Home Sales, their staged listings are under contract on average in 13 days. They can guide you through the process of preparation and staging of your home so that a buyer is secured quickly and yet you will not leave money on the table. This involves hiring an agent who is not overloaded with listings who can give you the one-on-one personal attention you need. If you contact Cathy or Brock at Signature Home Sales, that is who you will be interacting with from start to close.
- Another common mistake is not thinking through why you are choosing a certain agent. Perhaps you think name recognition equals best choice when in reality this is rarely the truth. Think about it... if an agent has a strong level of name recognition, changes are his business is huge and you just become one teeny fish in his sea of clients. Do you expect to work directly with THAT agent or with another agent who is paid a fraction of the deal to work clients for him? If you want to work with the agent you reach out to, interview agents until you find one who is going to be the face-to-face person with you. They will have support folks on the back end rather than having the back end support be the face-to-face person with you. Cathy and Brock are the agents you will deal with on a daily basis and the relationship with you will be nurtured and built on trust, clarity of process and results that you will be thrilled with. Their staged listings are under contract on average in 13 days! And the buyers they work with more often than not win the bids in multiple offer scenarios because there is strategy involved in buying as well as selling.
- Another common mistake is not accepting data presented to you by your agent and taking their recommendation on pricing the home. It's a better strategy to price lower and generate more buyers who may start a bidding war as opposed to pricing too high and not getting much or any traffic. The fact is that every buyer in the marketplace will know you have your home priced too high. Buyers are the most educated even over agents because they are visiting every property in that price range whereas not all Realtors® are doing that.
- Another common mistake is not being willing to invest in your home to make it stand out in the crowd of a buyers options. This is doing yourself a disservice since your ROI is always much higher than doing nothing. If necessary, take out a line of credit to make some repairs, paint, deep clean, etc. Cathy and Brock guide their clients to what is going to bring them the highest return. Again their stats (13 days on the market) prove this strategy works!
- Another common mistake is not having your home staged to maximize the appeal to a broader market. Statistics show that homes seller faster and for more money when they are staged by a professional.
- Another common mistake is not making it easy for buyers to tour your home. Always make your home available with an hour notice. It's quite easy to step outside if necessary to accommodate a tour of your home. Never stay inside while a tour is taking place because it does not give the buyer a sense of ease that they can discuss important matters with their agent. They also feel rushed to leave if you remain in the home.
- Another common mistake is not being in control of the negotiations process. How do you do that? By giving your home the WOW and positioning for multiple offers. Strategy, pricing and staging are key elements to positioning for multiple offers. Cathy and Brock guide seller clients to this every time they take a listing.
- Another common mistake is wanting to take the highest offer rather than looking at every offer carefully and making sure you understand that each buyer may have different levels of financial strength. Not all offers are created equal even if they are offering the same price.
- Another common mistake is not disclosing latent defects in your home and finding yourself in a precarious situation after a buyer has spent $550+ dollars on a Home Inspection. If a buyer would not have made an offer had they known of a latent defect, you could potentially be in a lot of trouble for non-disclosure! So disclosing known defects in your sale is critical to staying out of trouble!
- Another common mistake is moving out before you sell. If it is at all possible to stay before you sell, you should. A home shows better occupied since it gives space scale so buyers can see how the space is utilized. Plus keeping your furnishings in the home is best for staging and giving your home the WOW!
- Another common mistake is giving a buyer who is Under Contract for your home permission to pre-occupy the property prior to settlement. It's not uncommon for a buyer's financing to fall through so allowing them to move in before settlement is a risk you take. If their financing falls through, you then have to get them out. And if they become difficult about moving out, you could have an eviction scenario on your hands which is stressful and difficult. They can play the system for a year or more and cause you serious financial distress.