Mistake #1: Seller's Who Sell Too Hard During Buyer Showings

People buy homes on emotion, not logic. Buying a home is an emotional decision for most people and they like to get a feel for a house to see if it is comfortable for them. It's difficult for them to get comfortable in a home when the Seller follows them around, anxious to tell them all of the things they have done to the house, and pointing out every improvement they have made. It may even have the opposite effect to what they had hoped to accomplish by making the prospective Buyer feel they are intruding into the Seller's private space.

Resist the temptation to sell the Buyer and if possible, leave during the showing so they are able to discover and experience the home on their own. Their Realtor is the person they hired to help them find the homes they are viewing, sp try not to compete with the agent for their attention. We recommend tasteful signs to point out hidden features that they or their Realtor might miss. Another good idea is to have a photo album on the kitchen counter with photos of the home during other seasons.

Mistake #2: Sellers Who Do Not "Market Price" Their Home

As a seller, you want to sell your home for the most money possible. Pricing your home too high will often get you less money than you could have realized by putting a fair market value price on your home.

Keep these statistics in mind: On the average, buyers are comparing your home to fifteen to twenty other homes. If your house is not priced competitively, people looking at your home may reject your home in favor of more attractive homes priced very comparably, or comparable homes priced more aggressively.

Overpricing your home usually increases the "days on market", and many buyers are aware of how long homes have been for sale. The longer your home is for sale, the more buyers are inclined to feel that there's something "wrong" with it. And, when offers are presented, they are often lower as the Buyer is trying to compensate for what they may find after they move in. To help avoid this, we counsel our clients in the following areas:


Mistake #3: Sellers Who Fail To "Showcase" Their Home

Buyers look for homes, not houses, and they buy the home in which they would like to live. This is why we recommend staging the homes we list for sale. By assessing your home from a Buyer's perspective starting at the front door, we are able to create the experience needed to sell your home in the shortest time, at or above market price!

Buyers look for homes, not houses. Buying a home is an emotional decision and they end up buying the home that makes them most comfortable. It's what we call the "Ah-ha" effect. Having showed hundreds of houses, I have watched Buyers have an "ah ha" moment and that house typically moves right to the top of their list.

Sellers who fail to make necessary repairs, who don't "spruce up" the house inside and out, and who choose not to do the little things that make their home show exceptionally are often disappointed by lower offers and longer "days on market".

Think of it this way - if you were selling a car, you would wash it and maybe even "detail it" to get the highest possible price? That's because a buyer looking at your used car is purchasing on emotion.

Believe it or not, no matter how logical people are about spending this much money, emotion is a huge part of the value determination when a Buyer is determining how much they are willing to offer for your home.

Occasionally, one can see "For Sale By Owner" signs, and some owners think that selling their own home will not only save them money, but believe they have an advantage over the sellers that have their home listed by a reputable Real Estate sales professional.  Before you decide to take on this very important and legally complicated process…remember not even most Real Estate Lawyer’s recommend selling your own home yourself in today’s market. Here are a few of the reasons why:

1. You are limiting your exposure to potential buyers (less than 10% of what a good real estate broker will generate) which theoretically means your home will take ten to fifteen times longer to sell on the market.

2. The longer a home is on the market the lower the selling price is. Why? Because most buyers think that if the home has not sold after this long…there must be something wrong with the home.

3. The selling/buying process begins AFTER the buyer leaves your home. Most sellers think that all it takes is for someone to see their home, fall in love with the great decor… and the offer automatically will follow.  Remember that the buying process begins after they leave your home. If a real estate agent does not represent the buyer, and they are looking on their own…they usually leave the home and start to talk themselves out of the buying process. Real estate professionals are trained on how to overcome buyers remorse--a very common occurrence.

4. Because of the limited exposure you will very likely end up with a lower selling price. Remember, in order to generate the highest price possible for your home… selling means exposure. You need the maximum exposure possible, to generate the highest price possible.

5. Most buyers find it extremely awkward to negotiate or even to talk directly with sellers and therefore avoid FSBO properties.

6. Lack of negotiating experience and lack of pertinent information often will result in a lower selling price, or worse yet, a bungled contract and possible lawsuits.

7. The majority of qualified buyers are working with experienced real estate professionals.

8. Many serious buyers will pass by a FSBO home merely because they recognize that it is not in the real estate mainstream, this can some times make them wary.

9. As most Buyers now retain an experienced Real Estate sales person to represent them, if you agree to have a Buyer with a Realtor (who represents them under Buyer Agency) view and make an offer on your home, you (the Seller) will probably be negotiating against an experienced professional.

10. Expected savings in real estate fees will also be greatly reduced if you offer a selling commission to entice Real Estate agents to bring potential buyers.

11. If you are planning to use a Lawyer to help you negotiate the offer, then your lawyer’s fees will be considerably higher.

12. Only real estate agents have access to the up-to-date market information. News reports cannot approach the timeliness or specificity available to agents. Further, real estate agents are involved in home sales much more frequently than the average homeowner is. This familiarity leads to a degree of expertise that provides an edge on negotiating and successful selling.

13. You only pay the commission to the Real Estate Broker if they successfully sell your home at the price you are happy with.

14. Accepting an offer is one thing, ensuring a safe and successful closing is quite another. Real estate transactions frequently experience issues on closing. At such times, expecting the Buyer's and Seller's Lawyer’s to fight it out or resolve the problems, can mean the deal is lost. This is the time when an experienced Real Estate professional can be the most valuable. Your Realtor can act as a great mediator. Lawyers MUST act only on their client’s instructions and are not paid to negotiate.

When a house truly matches your family's needs, it is a home. And, when these needs change, then "right sizing" is the process of accommodating these changes.

Whether this means more rooms for a growing family, different space for a growing home-based business, shifting to a more affordable home that allows one stay-at-home parent, or a changing gears when the children leave, moving to another home may be the best option.

Although a renovation is an alternative, it is often difficult to envision the new space until the project is finisihed. And, surprisingly, many of these homes are sold within 2 to 3 years of completing a renovation.

If your home needs are changing, choose a Realtor with a trackrecord of assisting "rightsizing" clients with the emotional journey of making such a move. To help qualify them, ask for references & testamonials from others like you who they have worked with.

We've all heard the old adage "you never get a second chance to make a first impression." This is especially true when it comes to your home. If you're thinking about selling, there's no more important audience to attract than potential buyers, who are highly influenced by how a home looks the first time they get a glimpse of it. Even if your goal is just to impress your neighbors and guests you should pay close attention to the first impression your home in making. Here are a few simple tips and techniques that can positively affect your home's "curb appeal" and perhaps even its value.

Clean Up and Repair:
The most useful chores to tackle first are basic maintenance and repairs before moving onto larger projects. Clean windows and siding, make sure outdoor lights are working, stow away yard tools and equipment, and clean up dead branches and leaves. Make sure that fences, walkways, and the driveway are in good repair too - a home that looks well taken care of is always more attractive to buyers.

Landscaping:
A full landscape overhaul may not be necessary, but your yard, especially in the front, should look neat and well maintained. Trim any overgrown shrubs, remove weeds, and tidy up planting areas. If the season is right, add some colorful flowering plants to brighten up areas around walkways and the front entrance. It's an easy and inexpensive way to create an instantly welcoming feeling.

The Entrance:
The front door is another key element of that all-important first impression, and should reflect the style of the home. If replacement is cost-prohibitive, consider reviving a tired, faded door with a fresh coat of paint in a great accent color and swapping out the hardware.

Paint It New:
Brighten up the exterior of your home with a new paint job. Driving around your neighborhood may inspire some ideas of what may be flattering to your home. If you're planning to sell your home, it's usually best to go with colors that have widespread appeal so that potential buyers won't be put off by unusual colors or combinations. Painting the exterior can add significantly to the home's value.