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Top 10 Mistakes Sellers Make

1. Offering allowances instead of getting necessary repairs & upgrades done.  A first impression can never be changed. Once a Buyer walks through your door, they immediately create a memory of how your home looks.  For example, most Buyers can't imagine your home with neutral colors when purple walls are staring back at them.  Today's Buyers want move-in ready homes. They don't want the cost and hassle to get work done.  Another reason allowances are a mistake is that Sellers can increase their asking price by 1.5 to 2 times the cost of a paint, flooring, lighting or other upgrade. Get your home in move-in ready condition for a quick, top-dollar sale.

2. Not responding & adjusting to feedback from Buyers & Agents.  When we take a listing, we follow up on 100% of showings; we're always surprised to hear from clients who worked with Agents who gave them no feedback. It's very important for Sellers to know what Buyers & Agents think of their property.  If 8 out of 10 people objected to the bathroom wallpaper, it needs to be addressed. It's tough to hear negative feedback, but Sellers who respond to feedback sell their homes fastest.

3. Upgrading beyond the neighborhood norm. To compete successfully, upgrade your home according to the neighborhood norm: the average condition of other homes in the area. Often Sellers mistakenly over-improve resulting in too much money spent on upgrades that won't pay off.  Consult with an Agent before undertaking a major remodel to see if it will pay off. If only 5% of the homes in your neighborhood have sprinkler systems, then you don't need to add one to compete.

4. Failing to do a thorough deep clean. Preparing a home for sale is a daunting task. Getting your home sparkling clean is a top priority. The cleaner your home, the more assured the Buyer will be that your home is in top condition.  Windows and light fixtures should sparkle.  Kitchens and bathrooms deserve special deep-cleaning attention. Eliminate home odors (ask a friend to check for odors as many homeowners are desensitized to pet and other odors).  Refrain from potentially offensive cooking odors such as fish and strong spices while your home is on the market.    

5. Not compiling a detailed list of all upgrades completed.  Our goal is always to net our Sellers top dollar. One way we can justify a high asking price is with an itemized list of all upgrades the Seller has completed showing the grand total of money spent.  Sometimes Sellers are unable provide this list or don't keep records of their upgrades.  Even if you don't plan to sell now, start keeping a list of all upgrades including item, year completed, amount spent and running total. It's an invaluable marketing tool when you are ready to sell.

6. Ignoring curb appeal. It's not uncommon for a Buyer to drive by a house and decide if they want to see it or not based on exterior looks. If your house lacks curb appeal, you may be turning away Buyers even if it looks amazing inside. In real estate a book is judged by its cover.  Add blooming flowers and keep your lawn green and tidy.  It's an inexpensive way to attract Buyers.

7. Not de-cluttering enough. Hands down the biggest bang for your buck is decluttering your home.  Statistics show that this inexpensive home improvement can net you as much as 500% of your investment.  Sellers who don't de-clutter make their rooms look smaller, their home appear messy, and Buyers have a hard time visualizing their own belongings there. After you have de-cluttered your home, go through and de-clutter again.  Less is more when selling your home.

8. Staying at home during showings.  When a Seller remains at home, the Buyer will feel rushed and that they are intruding. We know our Sellers have kids, dogs, and life goes on even when a home is on the market.  But it's best to always vacate the house for a showing, even if you just take a walk around the block. You never know if this Buyer may be the one and if they really like your home, they will want to stay a longer time.

9. Being inflexible on price. The price you net for your house is determined by one primary factor: what a Buyer assesses your home to be worth. Buyers are the ones who determine selling prices, not Sellers. Today's Buyers are extremely savvy on neighborhood prices with a wealth of online information.  Few showings and negative price feedback? It's time to adjust price. Taking a tour with your Agent of the homes you are competing against (especially if they are priced lower) may be helpful.

10. Not staging your home to sell. After taking a listing, we always do a thorough walk-through with our Sellers and provide them with a to do list to stage each room to sell. When necessary, we pay to hire a professional home stager.  We completely understand how daily life and responsibilities make it difficult to prepare your home to sell. However, Sellers who work the hardest and come the closest to completing all necessary tasks will always outshine their competition. 

 Tammy is a licensed Realtor with Horizon Realty in Austin, TX. An Austin resident since 1978, she's part of a Mother/Daughter Realtor team with over 27 years of combined experience. Tammy & Judy specialize in the Wells Branch subdivision in North Austin and help Buyers, Sellers, and Investors in all parts of the city and surrounding areas.  If you enjoyed this blog, feel free to post the link to your favorite social networking site.  You can reach Tammy at tammy@familypair.com or (512) 773-3214 or visit her site at http://www.familypair.com/.

By: tammyle | In: Sellers | Comments: 0 | On: 08/07/2009 10:38:30