FIVE THINGS HOME SELLERS SHOULD NEVER DO
By Pete Chaison
Savannah List For Less
When preparing to put your home on the market, you hope that everything will go according to your ideal plan: your home will sell the first day at over listing price.
The reality usually isn’t so rosy. Your home may get few showings or no offers. You may have to lower your list price. Or, your home may not sell at all because you made a big mistake, so take heed of the following no-no’s.
DON’T IGNORE THE MARKET. Every market is different and those differences can impact the sales price of your home, the number of days your home spends on the market, and whether your home sells or not. Market conditions will influence the success of your home’s sale. If home prices are going up, you’ll do well but it will be more expensive to purchase your next home, unless you move to a less expensive market. And if prices are going down, you may not net what you were hoping for, but your next purchase may be a bargain.
DON’T HIDE PROBLEMS YOUR HOME MAY HAVE. If you’ve had a major water leak or had your foundation fixed, you need to disclose that in the seller’s disclosure form. While it may be tempting to check the, I don’t know box, any untruth can come undone. You don’t want to face legal problems because you tried to hide the truth. Disclose the problem and then provide proof of what was done to fix the problem.
DON’T OVERPRICE THE HOME. When your home is overpriced, it’s underdressed for the party. Buyers in your price range notice that it doesn’t quite measure up to the others in the same price range. Buyers who could afford your home if it was priced correctly will be searching in another price range.
DON’T IGNORE YOUR AGENT’S ADVICE. A REALTOR is a professional. When he or she tells you that you will get a better offer more quickly if you de-clutter, stage your home, make certain updates or repairs, it’s a proven truth. Buyers are more negative when they see homes that need work, and tend to make offers or withhold offers based on their feelings.
Your REALTOR will show you a comparable market analysis and recommend a listing range to price your home. If you go over that you’re risking a negative response from the market, long days on the market and probable price reduction.
DON’T HIRE THE REALTOR WHO TELLS YOU WHAT YOU WANT TO HEAR. To get the listing, potential agents may employ a number of strategies, including suggesting or agreeing with you to a high price for your home. Don’t fall for it. Choose an agent who is straight with you, about the market and about your home.
Do things right from the beginning and you’ll have a smoother, easier, and more profitable transaction and achieving your ultimate objective. That of attending a successful closing
Pete Chaison is co-owner of Savannah List For Less and can be reached at 912-313-2759 or firstname.lastname@example.org