Major Mistakes That Calgary Sellers Make
Listing a house for sale on the market may sound as simple as just putting out a sign or advertising it and showing it to prospective buyers. Many sellers find it is not as simple a process as previously thought and can actually be a long drawn-out process and expensive as well. However, by researching a bit about the real estate market, learning valuable information and learning the tricks and tips of selling a house, you will be able to get through the entire procedure a lot more smoothly.
9 Common Mistakes Sellers Make
It can be difficult to sell your house, especially since there are hundreds or thousands of houses on the market already. When it comes to selling your own home, it is important to know what will work and what will not. Listed here are some of the common mistakes sellers make:
1 – Setting your price too high
Real estate agents know that offering a property at the correct price will sell a house more quickly than anything else. If the list price is 5% or more over market value, buyers will be discouraged from even viewing the property. Overpricing will scare prospective buyers because they will feel they cannot waste their time even looking at it. If they do see it, they will know they can get the same kind of house for less money somewhere else.
2 – Offering a property “As Is”
In a buyers’ market, prospects will not even bother to view a house that needs a lot of renovating or fixing. Houses that showcase their best features will bring the most money. Most buyers want move-in condition that is sparkling clean and inviting. They want to see a model home. If they expect to do repairs themselves after moving in, they will want the home at a “fixer upper” price, which will be much lower than one in move-in condition. It will also take much longer to sell the home so you will save nothing by not making repairs
3 – A dismal interior
Buyers want to see a bright, clean interior and the best investment you can make is often a simple can of paint. After painting, new carpeting or flooring will also make a great difference. Stick to neutral colors with both carpet and paint. Another benefit is elbow grease—clean the home thoroughly. That is very effective in brightening a home and costs nothing. Be sure to de-clutter first and get rid of all junk. Buyers must be able to see themselves in the home and that is not possible with someone’s junk taking center stage. Start by emptying each room of everything and clean it thoroughly. Pay particular attention to the master bedroom, bathroom, kitchen and garage. Remember buyers will look into cupboards and closets, so clean those, too, and at least organize them if you cannot empty them. Even if you have to temporarily store the treasures you cannot give up, it will be well worth it to get everything you can out of the house before showing. This is the reason professionals “stage” a home, so do some of your own staging.
4 – Lack of curb appeal
You will have only one chance to make a first impression with your home so make it a good one. How a home looks to a prospective buyer—known as curb appeal—is extremely important. If the home does not look good, buyers will not even come in the door. If you have the best interior of all the homes on the market but buyers will not come inside, it will be for nothing. According to the time of year, have the lawn mowed, shrubs trimmed and potted flowers in the front. Even a good mailbox is spotted and makes an impression on buyers. Be sure outside lighting is adequate and replace light bulbs.
5 – Over improving
It is important to have everything in working order, but do not undertake major projects that you will spend more money on than you will recover. Just do basic repairs, such as roofing or plumbing. Now is not the time to add a spa or sauna, for instance. You cannot anticipate another person’s taste or what will be valuable to them.
6 – Delaying negotiations
Always reply immediately to a buyer’s offer whether or not you want to accept. Do not lose a sale by stalling. Do not overlook the first reasonable offer you receive, either, as you do not know when or if another one will come along.
7 – Making negotiations difficult
Be ready to negotiate in a positive way and find a win-win situation for both yourself and your buyer. If you have a real estate agent, leave the negotiations up to him or her, as they want the same thing you want – a sale.
8 – Hanging around during a showing
Prospective buyers may feel uncomfortable if you or your family hangs around while showing the house. If you must be there, stay away and keep pets and children in one place. You are selling—not socializing.
9 – For sale by owner
You may end up with a disaster if you plan to sell the home with no professional help. If you manage a sale, statistics show owners get less money than agents. Real estate agents will bring screened, qualified buyers and you will be safer and get more money using their services. They will have the proper forms and procedures and will protect your interests
Where to start
Selling a house is an intricate and complicated process. When you are ready to sell, contact me for more information.