Hey there, home seller! So you’ve listed your house and the showings have started, but no offers yet. What gives? Before you blame the market or get desperate and drop your price too low, take an honest look at how you’ve been handling the selling process. Chances are, you’re making a few crucial mistakes that are turning off potential buyers and costing you the sale.
#1 Overpricing Your Home
You’ve put your heart and soul into your home, but after weeks or even months on the market, it’s still not attracting any offers. The problem “could be” your asking price. Overpricing is one of the biggest mistakes sellers make and one that in the long run does not always turn out the way you might think!
Pricing too high means you’ll miss out on interest from qualified buyers who can afford a fair market value. They’ll pass you right by for a house that’s more reasonably priced. Meanwhile, the only people who will come to see it are “looky-loos” – curious folks with no intention to buy. Keep in mind that YOUR particular market is always the KEY to understanding what is actually happening. A good rule of thumb is to check recent selling prices of comparable properties in your neighborhood. Compare size, age, features, and, most importantly the overall condition to determine a competitive price range. You may want to actually have your home appraised before you put it on the market. This will save you a lot of time and worry!
The bottom line is that the market determines a home’s worth, not your emotional attachment or how much you paid 10 years ago. Price it too high and you could end up dropping the asking price repeatedly. Which looks bad and turns off potential buyers. The sooner you set a fair asking price, the sooner you’ll get a serious offer and be sitting at an attorney’s office with a check in hand! And isn’t that the whole reason you’re selling in the first place? Make this one adjustment and you’ll be well on your way to closing a deal.
#2 Poor Property Condition
If your house has been on the market for months without any solid offers, the problem could be its condition. In today’s market Buyers want a move-in ready home, not a major renovation project. Check for any major structural or electrical issues that need fixing first. Nobody wants to inherit a money pit, so get professional inspections to identify serious problems. Repair or replace anything unsafe or not up to code.
Pay attention to the details. Clean up clutter, scrub surfaces, mow the lawn, trim shrubs, power wash dirty siding or decks. Make sure everything is in good working order, from leaky faucets to squeaky doors to torn screens. You may want to seriously consider doing a “Listing” Inspection so there are no surprises that show up and kill a deal!
Freshen up the paint, especially on dingy walls or trim. Touch-up scuffs and dings in walls and floors. Steam clean carpets and area rugs or consider replacing them if they’re old or permanently stained. Your house needs to sparkle and shine to attract top dollar. Don’t just do a quick tidy and hope for the best. Really evaluate how your place shows to objective eyes and make an effort to remedy issues, spruce up tired elements and make the whole property more inviting.
Minor repairs and cosmetic upgrades are worth the investment. They signal to buyers that the home has been well-maintained and is move-in ready. The more appealing and turnkey you can make your house appear, the more likely you’ll find an eager buyer and get the best possible price. With the right improvements and staging, you can transform your listing from a dud to a desirable dream home.
#3 Limited Marketing Efforts
Selling a home is challenging enough without making it harder on yourself. But many homeowners sabotage their own sales by not putting in the necessary effort to market the property. If your home has been on the market for a while without much interest, it may be due to limited marketing efforts.
A. Not advertising online
In today’s world, most homebuyers start their search on the internet. Not listing your home on the major real estate websites and apps means you’re missing out on huge numbers of potential buyers. Make sure your listing includes professional photos, a compelling description highlighting the home’s best features, and an attractive asking price.
B. Relying only on the sign
While a “For Sale” sign in your front yard lets neighbors know your home is on the market, it has limited reach. Don’t assume that people driving by will see the sign and immediately call the listing agent. You need an online presence to capture serious buyers.
C. Pricing too high
It can be tempting to price high in the hopes of getting the most money possible. But an overpriced home often sits on the market for a long time and gets passed over by most buyers. Do research to determine a competitive price for your neighborhood and comparable properties. Be willing to negotiate to find a fair price that will motivate serious offers.
#4 Unappealing Listing Photos
Unappealing listing photos are one of the biggest mistakes sellers make. Your listing photos are the first impression potential buyers get of your home. If they’re dark, blurry, or don’t highlight the best features of your house, you’re losing interested buyers before they even step through the front door.
B. Poor Quality or Lack of Photos
Having too few photos or poor-quality images is an instant turn-off for most home shoppers browsing online listings. They want to see all rooms, outdoor spaces, and any recent upgrades or renovations. Make sure you have at least 10 high-resolution photos that give a comprehensive tour of your property. For the best results, hire a professional real estate photographer. Their photos will make your home shine.
C. Messy, Cluttered Photos
Busy, cluttered photos make rooms appear smaller and distract from your home’s best attributes. Do some decluttering and deep cleaning before the photographer arrives. Put away knickknacks, paperwork, and anything else cluttering surfaces. Make sure all rooms are spotless. Your home will show much better in the photos and to anyone who comes for a showing.
D. Lack of Staging
Staging your home, even with minimal effort, can make a huge difference in how appealing your listing photos appear. Consider renting stylish furniture to fill any empty rooms. Add decor accents like artwork, plants, throws, and pillows. Make your bed with plush linens and decorative pillows. These little touches create a welcoming space that buyers can envision themselves in.
E. Poor Lighting
Dark, shadowy photos are unappealing and make your home seem dreary. Turn on all lights and open blinds to let in natural light before the photographer arrives. Spotlights, floor lamps, and overhead lighting all help brighten a space. For outdoor photos, shoot during the daytime when possible. Good lighting and bright, airy photos will capture interest and generate more showings.
#5 Failing to Negotiate
One of the biggest mistakes sellers make is failing to negotiate. You’ve received an offer—congratulations! But the offer price may not be ideal. Don’t be afraid to make a counteroffer to get the best deal.
A. Price Isn’t Everything
The offer price is important, but so are the terms. Consider things like the closing date, concessions, and inclusions. If the offer is low but the terms are ideal, you may be able to counter by adjusting the terms rather than the price. For example, you could ask for a shorter closing period or request the buyer covers more of the closing costs.
B. Do Your Research
Check recent selling prices of comparable properties in your neighborhood to determine a reasonable counteroffer range. You want to make sure you’re not countering too high, but also not leaving money on the table. A good rule of thumb is to counter 5-10% above the offer price.
C. Explain Your Reasoning
Don’t just throw out a number. Provide a rational, evidence-based explanation for your counter to show you’re negotiating in good faith. Explain how you arrived at that figure based on the property’s attributes and the current market. This approach is more likely to lead to a productive back-and-forth negotiation.
D. Be Flexible
A successful negotiation requires give and take from both parties. Don’t dig into an unreasonable position. Be willing to compromise to reach an agreement. Have a range in mind rather than one set figure for your lowest acceptable price. Consider other terms the buyer may be open to adjusting as well.
E. Get Help if Needed
If you’re not comfortable with negotiating or want support, don’t do it alone. Ask your real estate agent to help you craft a strong counteroffer and work with the buyer’s agent. Your agent can also often convey your counter in a way that keeps emotions out of the negotiation. With the right approach, you’ll get the best deal possible. Don’t leave money on the table by failing to negotiate!
Conclusion
So there you have it. Five common errors that are sabotaging your home sale and costing you money. Avoid these mistakes, make the necessary changes to your listing, and watch the offers start rolling in. You’ve put in the work to get your place ready to sell, now make sure you cross the finish line by fixing these issues. Your dream buyer is out there, you just have to make sure your listing is attracting them.
IF you are ready to get your home SOLD, call me today, and let’s TALK! (404-219-1938)
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425 E. Crossville Road, Suite 213 Roswell, Georgia 30075
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Cell:404.219.1938
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Website: AnitaWheelerRealtor.com
