Have you ever wondered why some listings sell for more than others? Or If there are certain factors that can negatively impact the value of your property? Let’s dive in and explore some of the factors that sellers are facing this season and provide tips and insights on how to overcome them.
SHOWING AVAILABILITY
One of the most important factors in selling a home is making it available for potential buyers to view. Limited showing time can be a major obstacle in getting top dollar for a listing. When buyers are unable to view the property at their convenience, they are more likely to lose interest and move on to other options.
To avoid limited showing time, it is important to plan ahead with your real estate agent to create a flexible schedule that accommodates potential buyers. This may mean being available for showings on evenings and weekends and making arrangements for pets. If you work from home, it is important to plan for an alternative working space such as a local cafe and maybe even invest in hotspot internet connection.
STAGING
Another common mistake that negatively impacts listings is not staging the home. Staging is the process of preparing a home for sale by decluttering, depersonalizing and arranging furniture, decor to showcase the property’s best features and create an inviting atmosphere. It also includes the exterior appearance of a home such as mowing the lawn, power washing and adding planters.
When a home is not staged, it can be difficult for buyers to envision themselves living in the space. This can lead to lower offers or even deter potential buyers from making an offer altogether.
To avoid this mistake, it is important to create a staging plan that highlights the best features of your home. This may take several weeks and even months to do since you will want to minimize your belongings down to what you will actually take with you to your next home. You can use your closets and storage space strategically to get items out of the way and create more space. A tip: invest in access pieces such as pillows, rugs and small decor that you can use for your next home. Leverage your local Buy Nothing group to source some items as well as gift items you no longer need.
REPAIRS
Another mistake a seller could make is not repairing ahead of listing. When a home has visible damage or maintenance issues, it can be a major turnoff for potential buyers. This can lead to lower offers or even deter buyers from making an offer at all. When you take good care of your home, it increases perceived value for potential buyers.
To avoid this mistake, it is important to address any necessary repairs before listing your home. This may include fixing leaky faucets, replacing broken tiles, or repainting walls, replacing burnt bulbs. It is also recommended to do a tank sweep to ensure that there are no underground tanks that need to be removed. By taking care of these repairs ahead of time, you can ensure that your home is in the best possible condition for potential buyers AND reduce the repair request a buyer may have as a result of an inspection report. It can also help you stay on target of your moving date since you will have less repairs to deal with as part of the negotiation process.
PRICING
Pricing, pricing, pricing is almost as important as location, location, location when it comes to real estate. There are different approaches and strategies to pricing depending on a homeowner’s goals and condition of the home. Even during a sellers market, we often see homes that are overpriced and sit on the market. This severely reduces potential buyers interested in seeing the property which then directly impacts the sense of value and offer price a buyer may give for a property. It is critical to understand current market conditions and trends before deciding on a pricing strategy. Generally speaking the “lets try it at this price” is not a good strategy as it often leads to a price reduction which puts the homeowner at a disadvantage from a leverage perspective. Therefore, It is important to understand the data, interpret it and use it to your advantage for strategic pricing. A great real estate professional can help you with this.
THE BOTTOM LINE
By avoiding these mistakes and working with an experienced real estate agent to create a comprehensive selling plan, you can increase your chances of getting top dollar for your property. If you are interested in learning more about how to sell your home successfully, please email us at connect@tezroro.com to receive our comprehensive selling guide. You can also schedule a consultation with me through this link and we can find ways on how you can achieve your real estate goals!
