Top 12 Seller Mistakes and how to avoid them if you are looking to sell your house:
- Selling on your own. There have been so many changes in financing, contracts, and regulations that it is difficult to keep up with if you are not in the business learning and keeping up with these changes you can get burned at the last minute. How will you navigate the process when things go wrong with no experience in how to handle the types of problems? The business is changing exponentially virtually daily.
- Not hiring a true professional. A true professional in the business is someone who is actively selling houses and participating in continuous training – not just someone with a license. Nearly 40% of licensed Realtors did not sell a house in the last 12 months. Be sure your agent is a true professional who is keeping up with the changes in the market, trends, contract changes and all other aspects of the business.
- Not listening to the advice of your professional. Some owners will hire an active agent in the business, listen to their advice but then take over “the driving” of the listing by dictating the pricing, condition, showing details, negotiations, etc.
- Not hiring a stager. Some sellers fancy themselves as decorators, interior designers, etc. saying they know how to put their property in the right condition to sell – well, it doesn’t help in most cases. If your agent isn’t an Accredited Staging Professional – hire one and do all that they tell you to do to sell your house.
- Not doing what the stager or professional suggests. Yes, some people will hire professionals and not take their advice or delay in making the changes suggested.
- Not following the advice of feedback presented by agents who show the property quickly or in a timely manner. Agents who are actively previewing or showing properties have the best perspective on the market. Their buyer’s feedback is the heart of the market and its conditions so their input should be carefully considered and followed – with the advice of your agent.
- Not maintaining the “right” condition of the property during the sale process. Many times, especially as time goes on in the marketing process, sellers won’t make beds, load the dishwasher, keep the blinds open, etc. and that is when the property will be shown. It is a difficult process but it must be followed because you don’t know when the next showing will occur.
- Pricing the house a little high for negotiations. Pricing is extremely critical. What happened last month, last year or when you bought your house doesn’t matter in today’s market. Buyers are looking for houses that are priced right – which in many cases, is a little below what the last sale was in the neighborhood. Pricing a little low may also generate multiple offers and allow you to attain a higher sales price.
- Not utilizing a lockbox to grant access – appointment only will hurt the number of showings and thereby extend the length of time the property is on the market which will lead to frustration on everyone’s part.
- Not leaving during the showing process – it is uncomfortable to the buyers and they won’t provide the best of feedback.
- Not negotiating contracts that come in – no matter how low. Sometimes buyers or their agents will see how low they can go before they will agree at a reasonable price and terms.
- Not making the contract work and get to closing. Often times both buyers and sellers will need to negotiate all the way to the closing – home inspection items, HOA violations, appraisal issues, title issues, and so many other things can become stumbling blocks. Remember to keep your eye on the end goal of selling the house.
By avoiding these costly mistakes, you can get your house sold in virtually any market in a reasonable time.