Some homeowners who are attempting to sell their home or who will be selling their home make it seem like they are trying to solve a Rubik's cube. The reason these home sellers make the process seem so impossible is because they are making some silly and sometimes comical mistakes.
Home sellers who follow the proper steps for selling a home and who are educated on the process can make it seem simple. Those sellers who do not know what it takes to sell a home need to realize what mistakes can cost a home sale.
As a top real estate agent in Pittsford NY, I have seen for years sellers make crazy mistakes and sometimes some pretty humorous ones. It truly amazes me sometimes that the majority of home sellers who are making these mistakes have no clue that they are.
So...what are the most common home selling blunders and bloopers? Read on to find out five of the craziest home selling mistakes and bloopers that home sellers need to avoid at all costs!
Attempting To Sell Their Home Without A Realtor® (FSBO)
Most homeowners who attempt to sell their own home don't realize that more than 90% of For Sale By Owners (FSBOs) fail! You read that correctly, 9 out of 10 FSBOs fail!
There are tons of reasons why FSBOs fail in real estate and certainly one of the biggest blunder that is made by sellers is attempting to sell their own home. Selling a home is one of the biggest transactions that anyone will ever encounter and not relying on a top Realtor® to help is nuts.
Some of the most common reasons why FSBOs fail in real estate and why attempting to sell a home by owner is a huge home selling blunder include;
- FSBOs don't know how to screen potential buyers
- FSBOs don't realize the amount of time it takes to coordinate showings
- FSBOs don't know how to properly market their home
- FSBOs don't know how to properly determine market value of their home
Hiring The Wrong Realtor®
I do give credit for those home sellers who realize they should hire a Realtor® to sell their home. Another huge selling blunder that is not taking the proper amount of time to interview prospective Realtors® and ultimately, end up hiring the wrong one!
Choosing the wrong Realtor® to sell a home can be home selling suicide. The truth is that real estate agents are a dime a dozen, however, like any profession there are top quality professionals, average professionals, and other professionals who don't have a clue.
Hiring a top Realtor® who understands how to price a home properly and market a home properly nearly eliminates the chances a home seller makes themselves look foolish when selling their home. Since there are so many online real estate marketing strategies that real estate professionals should be using to promote their listings and themselves, it's important to take hiring a Realtor® very serious when selling a home!
Believing Their Home Is Worth More Than It Is
There are some homeowners who simply cannot believe their home is not worth more than they are being told. Whether a homeowner believes their home is worth more because they check out their "Zestimate" or because their neighbors home sold for more than theirs and isn't "nearly as nice as theirs," another common home selling mistake is sellers believe their home is worth more than it truly is.
Sometimes it doesn't matter if a seller talks with 3 top agents in their area and they all tell them it's not worth what they believe, they will find an agent who will agree to list it for the price they want. These are often classified as "YES" agents. Hiring a "YES" agent is one of the worst mistakes made when hiring a real estate agent to sell a home. "YES" agents will agree to list a sellers home for whatever they would like because they simply want the listing, even though they know deep down that it won't sell.
Not Accommodating Showings
Another common home selling mistake that is made by sellers is not accommodating showings. It's important that home sellers realize that when selling their home it can, at times, be very inconvenient. The possibility that a seller may have to leave their home multiple times in a day is very real since every buyer has different times that will work in their schedules to view prospective properties.
Those sellers who only allow showings during a small window of time and on certain days are shooting themselves in their own foot. It's important when selling a home that sellers do not make the home selling blunder of not being accommodating with showing requests. This is a surefire way to kill a home sale!
Being Unrealistic With Negotiations
Quite possibly the most humorous home selling blooper that sellers make is being completely unrealistic with their negotiations. Whether it's during contract negotiations or negotiating potential repairs from a home inspection report, a home selling blunder that is often made is not being realistic with negotiations.
Think about it for a moment...most buyers are going to have a home inspection and rightfully so. If a home inspector indicates that there are several double tapped circuits in an electric panel which is a potential fire hazard, don't you think it's warranted for a buyer to ask them to be corrected prior to them purchasing the home? I mean they are spending hundreds of thousands of dollars on the home and want to ensure their investment is a safe one.
Believe it or not, there are plenty of home sellers out there who make the common home selling mistake of not agreeing to make legitimate repairs.
The above 5 home selling blunders truly blow my mind when they are made. There are literally dozens of other top home selling mistakes to avoid, but instead of me talking about them, that is where you come in!
I'd love to hear what home selling blunders and bloopers that you have seen that absolutely blew your mind. Comment below with the craziest ones you have seen!