10 COMMON Home Selling Mistakes (And) How To Avoid Them …. 64

#realtor #homeselling #homelisting

There are lots of mistakes one can make when listing their home for sale, even in a hot market. Here are a few I can think of

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1. Choosing an offer that has no chance of closing This is a fairly new phenomena. Let’s say you have three offers, and they are all over the asking price of your home. For the sake of this example, let’s say 10,000. What are the odds that all three will be able to close on the loan? What characteristics of the offer can help in determining that?
a. Loan to value…are they at 95% or 80%
b. Escrow amount…How much are they bringing to escrow
c. Loan Preapproval….One of the sellers gives you a bank statement that shows they have enough in an account to purchase the home, 1 shows a loan preapproval, and the other offer doesn’t have either. Which one should you choose? Cash.
2. Improperly filling out a seller’s disclosure Does the basement leak? You should put that down. Is a window pane cracked? Best to put that down. Hiding things on a seller’s disclosure is a recipe for disaster. For one, the buyer is probably going to get a home inspection, so they will probably find it, and number 2, smart buyers agents are looking at the home during their showings. When they see things that aren’t disclosed, they wonder what else is wrong with the home.
3. Not paying attention to curb appeal What do you think is the most important picture of a home listing? The front. Now, you can put drone pictures, pictures of your kitchen, etc…but it doesn’t have the same effect as the front of your home. If your house has tired landscaping, get the mulch, get the bushes and shrubbery you need and get to work. Make sure the grass is before and during the listing. If you have a dog, maybe pick up after it? I use the sidewalk exclusively…from experience.
4. Your house smells Did you ever notice your house smells? Like bad? Buyers and agents do too. And, don’t try to cover it up with heavy air fresheners. That just tells buyer agents you are hiding something. Ask a friend to come by and give your house a whiff. If they say it smells, try to figure out the source and eliminate it.
5. Restricting showings You may have a kid that needs a nap. You may want to come home after work and just sit in your recliner. That’s totally fine. However, most agents are showing 5 houses to the same client or more daily. They want to schedule something that works for their buyer. They don’t want to work around your schedule. When you restrict showings to odd times, it’s always a fail for the seller.
6. You picked an agent who doesn’t follow up with other agents… You pick an agent who has all the answers, and you really like them, but do you know how they “service” the listing? That is, do they respond to buyer agents quickly. Do they follow up with showing feedback? Are they organized? Choosing this type of agent can really hurt your chances of getting top dollar for your home, just because other agents don’t want to deal with them.
7. You have no idea what kind of house you have So, this is a tricky one. Many buyers think they have the best house on the market. After all, they bought it. The problem is, decades pass and things that were once a selling point are now things to hide. As an example, wallpaper was great in the 80’s. Not so much now. Pergo flooring was wonderful when it came out. Not so much now. And a kitchen that has bed remodeled 20 years ago may still function, but it’s definitely dated and not usually a selling point UNLESS buyers want something retro.
8. Not clearing the clutter Many people think their house is really clean and there isn’t any clutter…but they haven’t been actively looking in the market. The houses were sellers made an effort to reduce clutter will always sell faster than houses with stuff everywhere. Why? Well, buyers get distracted when they see all the stuff.
9. Skimping on Cooperating Agent Commission So, you call 4 real estate agents, three of the commission are about the same, but one is super low…what is going on? They are likely trying to short the cooperating agent. How to avoid? Ask what the total commission is, and then ask what the agent is paying to the cooperating broker.
10. Pricing your home too high - I get it….you want the most money you can possibly get. Who wouldn’t? Even in these crazy times, sellers can overplay their hand. As an example, there is a home on a major street near my house. They started at $240,000 it’s now down to $180,000 Why? It’s priced wrong.

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