Biggest Home Seller Mistakes

Reblogger Jerry Newman
Real Estate Agent with Brown Realty, 210-789-4216,www.JeremiahNewman.com TREC #0492321
https://activerain.com/droplet/49RH

 

Sellers in the San Antonio and surrounding county areas! If you are ready to avoid some of the "Biggest Home Seller Mistakes", and Get Your Home Sold Today, call Jerry at 210.789.4216. Knowing what to avoid and partnering with the "Right Agent" is a nice combination for Getting Your Homes Sold in San Antonio, TX. Our inventory is low at 4.2 months, and now is a great time to get your homes on the market. If you want a FREE Market Analysis of your home, go to my website at Selling-SanAntonoHomes Today.

Original content by ActiveRain Real Estate Network

Real Estate Agents Rank Biggest Home Seller Mistakes

A recent survey of real estate agents by ActiveRain has confirmed that there are certain things a seller should avoid if they are trying to get their home sold for the best price in the least amount of time. 

The results of this survey are no surprise to real estate agents, but sellers need to understand that eliminating as many hurdles as possible to the sale of your home will help you achieve your desired outcome.


Biggest seller mistakes 

 

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Of the top mistakes, most are ultimately in the hands of the seller. Working with your real estate agent to minimize the impact of each of these mistakes will make the sale of your home a reality.

Here are the top mistakes real estate agents commonly see made by homeowners looking to sell their house.

1. Overpriced Home

Nothing shocking here. This was far and away the most common mistake sellers make that prevent them from selling their home. 

If you overprice your home there is a pretty good chance no one is going to want to buy it. Real estate agents do not set the real estate market. A great real estate agent will suggest a price at which to list your home based on comparable homes that have already sold in the market. Overpricing a home to 'see if you can get someone to bite' is not a strategy employed by someone really serious about selling. Overpricing a home will lead to missed opportunities with buyers that are serious about buying in the range at which your home should be listed.

The first week during which a home is listed will generally be the time that the most eyeballs are on the home and the largest potential pool of buyers will be exposed to the listing. Setting a price that reflects the market is essential to selling! This is exacerbated in a downward trending market. Many a seller has lost thousands, even tens of thousands of dollars chasing a market down after setting a listing price that was outside what the market was willing to bear.

Margaret Goss, a Broker with Baird & Warner on the North Side of Chicago gives you a few reasons that an agent will take your overpriced listing and then shares the repercussions of making the decision to price your home too high. 

2. Showing Availability - It's Difficult to Set a Showing

The chances your home will sell when buyers can't get in to physically inspect the property are minuscule. Sellers need to understand that listing a home for sale is going to lead to some inconveniences in your normal routine. Many serious buyers may want to physically inspect a property during times which may not be convenient for the seller. Knowing this, motivated sellers need to understand that flexibility in when you allow the home to be sold could have a direct impact on the sale of your home.

It's not uncommon for sellers to see 8, 10, even 20 homes during a showing tour with their agent. If your house isn't on that list because you only do showings on Saturday and Sunday from 10am to 4pm, you will miss out on ready, willing and able buyers. 

As a seller, realize that the more people that can see the home in person, the more chance you have to find the buyer that wants your home. Eric Kodner, a broker with Madeline Island Realty in La Pointe Wisconsin shares a real life example of an unavailable seller costing herself a sale and a lot of money.

3. Cluttered Space - Unwilling to Depersonalize or Remove Clutter

Sellers are sometimes unwilling to either make the effort, or unwilling to compromise how they live in their home during the time the home is on the market for showings. Serious sellers realize that by depersonalizing the home and removing unwarranted clutter, it allows potential buyers to more easily visualize their own things in the house.

When you live in your home day in and day out, you become comfortable with your own 'things'. In many cases, however, your 'stuff' can make a room feel smaller than it actually is and in some more extreme cases, your 'stuff' can completely distract someone from visualizing the potential of a room. We know you are proud of your kids as the shrine in the living room displays all of their ribbons, trophies and diplomas from the last 20 years. But for a buyer, this is only a distraction. 

Many agents will make recommendations about ways to remove clutter or depersonalize your home. Some will even suggest that a professional homestager be brought it to completely maximize the space and create a setting maximizes the buyers ability to visualize their own things. The key thing to remember here is these suggestions are not personal and you may have to be a little uncomfortable so that your house puts it's best foot forward.

Ralph Gorgoglione, a real estate agent with the John Aaroe Group in Los Angeles reminds us that "as a seller, the most important thing to realize is that, yes, your crapola means a lot to you. But it means nothing to anyone else." Especially a buyer trying to visualize their own stuff in your house.
 

4. Unpleasant Odors in the House

"Mr and Mrs. Seller, your house stinks!"

Most agents aren't going to be this blunt. But in some cases they wish they could be. They'll take a more tactical approach and say something like.....'during the time your house is on the market, it might be a good idea to smoke outside'.

But what they know is that nothing will stop a potential buyer in their tracks faster than a strong odor of any sort. In some cases this could just be the left over smell from last nights dinner. In more extreme cases, agents tell horror stories of entering homes that have a bad smell of pet urine or smoking. 

The main concern for the buyer is, of course, "is the house going to smell like this once we move in?" Real Estate agents confirm that many a buyer has passed on a home after coming to their own conclusion on that answer. 

Your agent isn't suggesting a fresh coat of paint and new carpet because they don't like how things look. They are making this suggestion because they realize that the smoke odor in your home is going to be a major turn off for anyone thinking about buying your home.

Real estate broker Dick Greenburg with Elevations Real Estate, LLC in Fort Collins Colorado even goes so far as to suggest "homes with bad odors don't sell because buyers are having intense and complex negative reactions that are beyond working around."

5. Seller Unwilling to Make Repairs Prior to Listing

No seller wants to spend a few thousand dollars making repairs to a house you are about to sell. Agents understand that. But they also understand that few buyers want to move in to a house that needs a bunch of work done immediately upon moving in. 

One of your objectives to selling your home is to make it as appealing as possible to as wide of an audience as possible. If the seller is unwilling to make repairs, and a buyer doesn't want a bunch of work upon moving in, you've shrunk the pool of potential buyers for your property.

Some sellers may want to offer the buyer a credit at closing for certain repairs. Real estate broker Chris Ann Cleland, with Long and Foster in Gainesville, VA shares with us why that strategy isn't better than making the repairs yourself before putting the home on the market.
 

6. Sellers Unwilling to Negotiate with Buyers

Setting a market price on a home is not an exact science. Many real estate agents will give the seller a range in which they predict the home will sell. As a seller, you should always want the most money the market will bear. That being said, the unwillingness to negotiate with buyers can turn away even the most serious buyers.

Price is not the only condition which is open to negotiation. Buyers and sellers can negotiate on dates, fixtures that might stay with the home, repairs and a host of other sticking points. Sellers that refuse to negotiate and are set on digging in their heels are much less likely to find a willing and able buyer.

Don't be insulted by low offers. Buyers want to get the home for the best price and on the best terms they can. Just like a sellers wants to sell for the best price on the best terms. It's rare that either party walks away from a negotiation with everything they want. Motivated sellers understand this and are willing to negotiate.

Debbie Reynolds, a broker with Prudential PenFed Realty in Clarksville Tennessee, cautions sellers against being unwilling to negotiate as well as second guessing your original listing price

7. Bad Photos in the MLS

This one will most likely fall on your real estate agent. But knowing that bad photos in the MLS can be an impediment to the sale of your home, as a seller it's imperative that you demand great photography from your agent.

Studies show that greater than 85% of people are going online as a part of their research for buying a home. Most buyers will probably first be introduced to your home online. Poor photos could be cause for them to disregard your home before they ever set foot in it. 

The photos used to market your home are generally the first impression any buyer will have of your home. When picking an agent to list your home, ask to see examples of photos from previous listings. Do their photos make you want to take a look at the home?

Never let your home go on the market without photos! If it means waiting a day or two before listing, wait. A large number of potential buyers in your market will be exposed to your home the first day it goes on the market. Having great photos the first day the home hits the market is a must.

Tammie White, a REALTOR® with Benchmark Realty LLC in Franklin Tennessee tells us why "it is crucial to have professional photographs to show off your home."

8. The Home is Just Plain Messy

You were late for work this morning so you ran out of the house without picking up from last night's dinner. Not a big deal.....unless you have potential buyers that will be stopping by. 

Some people may be able to look past the dishes stacked up in the sink, but enough buyers won't be able to look past the mess. Remember, buyers want to envision their things in your house. The more obstacles you put in the way, the harder time they have connecting with the home emotionally.

Take the time every day to make sure everything is cleaned up and the home is in showing condition. 

Woody Edwards, a REALTOR® with First Choice Realty in Chesterfield Virginia is reminded of an old saying his grandmother used to have, "never leave home until the home is in dying condition". This couldn't be more true than when selling your home. 

9. Sellers Who Like to Play Tour Guide During Showings

Almost every real estate agent who participated agreed that sellers should leave the house during showings. Some sellers want to stick around and make sure buyers see all the important features of a home. The problem with that.........as a seller you don't know what's important to a buyer. 

Sellers that hover around during a showing will make the buyer nervous. They won't feel comfortable discussing things they like or dislike about the house with their agent. In addition, most buyers like to explore a little bit. Interested buyers tend to do things like open cabinets and check in closets to get a better sense for the entire home. A hovering seller can make this very uncomfortable for some buyers.

Bottom line......leave the house when it's being shown. Your presence there will only make things worse. Karen Feltman, a real estate agent with Skogman Realty in Cedar Rapids Iowa gives you a couple of specific ways that a seller's meddling during showings can hurt or kill a deal

10. Picking the Wrong Agent

You decided to list with your aunt or with your friend that just got in the business. You paid no attention to their experience or what they do to market a home. Maybe not the best idea. 

Real Estate agents will often suggest interviewing more than one agent. You'll never know if your aunt is going to do a good job of marketing your home for sale if you have nothing to which to compare her. 

Don't be scared to ask a real estate agent questions about why they are a better choice than anyone else you may be considering. Just like with any profession, there are good real estate agents and there are bad real estate agents. Anita Clark, a REALTOR® with Coldwell Banker in Warner Robins Georgia shares a great list of potential questions you will definitely want to ask before you pick an agent

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Ambassador
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Brenda Mullen
RE/MAX Access - Schertz, TX
Your San Antonio TX Real Estate Agent!!

Nice reblog Jerry.  This covers all the mistakes that home sellers make when trying to get it sold :)!

Jan 23, 2014 05:38 AM #1
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Jerry Newman
Brown Realty, 210-789-4216,www.JeremiahNewman.com - San Antonio, TX
Texas REALTOR, San Antonio Military Relocation

Thanks, Brenda. Sellers do need to avoid all these mistakes while trying to sell their homes.

Jan 23, 2014 05:49 AM #2
Rainmaker
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Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Jerry,

This was a great idea to reblog.  A

Jan 23, 2014 06:58 AM #3
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Bill & Cyndi Daves
Hiawassee, Young Harris, Blairsville, Hayesville, Murphy and Beyond! - Hiawassee, GA
TeamDAVES - Your REALTORS In the GA/NC Mountains!

Jerry -  Thank you for reblogging.  I was registered but had to miss the webinar this afternoon.

Cyndi

Jan 23, 2014 07:14 AM #4
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Fred Griffin Tallahassee Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

I missed Bob's Webinar today.    Thanks for Reblogging this!

Jan 23, 2014 09:56 AM #5
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Connie Harvey
Pilkerton Realtors - Brentwood, TN
Realtor - Nashville TN Real Estate

Jerry, I've been out of the office and missed this. Yep. No surprises here! Will have to repost it myself!

Jan 24, 2014 05:00 AM #6
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Karen Kruschka
RE/MAX Executives - Woodbridge, VA
- "My Experience Isn't Expensive - It's PRICELESS"

Jerry  If you left anything out I can't find it - wel done

Jan 24, 2014 05:17 AM #7
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Jerry Newman
Brown Realty, 210-789-4216,www.JeremiahNewman.com - San Antonio, TX
Texas REALTOR, San Antonio Military Relocation

Yes, Ron & Alexandra. I am certainly going to be using this Info-graphic in my listing presentations.

Jan 26, 2014 12:06 AM #8
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Jerry Newman
Brown Realty, 210-789-4216,www.JeremiahNewman.com - San Antonio, TX
Texas REALTOR, San Antonio Military Relocation

Hi Cyndi & Bill. I believe the webinar was recorded, so you may be able to get a copy. This is a great tool to use for your presentations.

Jan 26, 2014 12:07 AM #9
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Jerry Newman
Brown Realty, 210-789-4216,www.JeremiahNewman.com - San Antonio, TX
Texas REALTOR, San Antonio Military Relocation

No Problem, Fred. Some very useful information came out of that webinar.

Jan 26, 2014 12:08 AM #10
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Jerry Newman
Brown Realty, 210-789-4216,www.JeremiahNewman.com - San Antonio, TX
Texas REALTOR, San Antonio Military Relocation

Yes, Connie. I know many agents will be using this information on their listing presentations soon.

Jan 26, 2014 12:08 AM #11
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Jerry Newman
Brown Realty, 210-789-4216,www.JeremiahNewman.com - San Antonio, TX
Texas REALTOR, San Antonio Military Relocation

Hi Karen, It's certainly a great list, and a very useful tool. Have a Blessed Week!

Jan 26, 2014 12:09 AM #12
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