Avoid These 4 Mistakes When Selling
You’ve decided to put your home on the market. Hopefully, you’ve consulted a local Realtor or two to help you understand the current market, pricing strategy and compiled a list of due diligence on what to do as a seller. There are nearly as many important things to do as there are things NOT to do. Here are 4 tips to get you started.
Don’t OVER-Improve.
As you ready your home for sale, you may realize you will get a great return on your investment if you make a couple of changes. Updating the appliances or replacing that cracked cabinet in the bathroom are all great ideas. However, it’s important not to over-improve, or make improvements that are hyper-specific to your tastes. For example, not everyone wants a pimped out finished basement equipped with a wet bar and lifted stage for their rock and roll buds to jam out on. (Okay, everyone should want that.) What if your buyers are family oriented and want a basement space for their kids to play in? That rock-and-roll room may look to them like a huge project to un-do. Make any needed fixes to your space, but don’t go above and beyond—you may lose money doing so.
Don’t OVER-Decorate.
Over-decorating is just as bad as over-improving. You may love the look of lace and lavender, but your potential buyer may enter your home and cringe. When prepping for sale, neutralize your decorating scheme so it’s more universally palatable.
Don’t Hang Around.
Your agent calls to let you know they will be bringing buyers by this afternoon. Great! You rally your whole family, Fluffy the dog included, to be waiting at the door with fresh baked cookies and big smiles. Right? Wrong. Buyers want to imagine themselves in your space, not be confronted by you in your space. Trust, it’s awkward for them to go about judging your home while you stand in the corner smiling like a maniac. Get out of the house, take the kids with you, and if you can’t leave for whatever reason, at least go sit in the backyard. (On the other hand, if you’re buying a home and not selling, then making it personal is the way to go, especially when writing your offer letter. Pull those heart strings!)
Don’t Take Things Personal.
Real estate is a business, but buying and selling homes can be very emotional. Simply put… we are often attached to our homes and the way we live – Our stuff is the best there is! However, when selling your home, you must get out of your own head and into the head of today’s buyers. What is in, what is out(dated) and how not to take things personally. When a buyer lowballs you or says they will need to replace your prized 1970s vintage shag carpet with something “more modern,” try not to raise your hackles.
Always remember that the Buyer is comparing your home to others on the market not just for price, but for condition and the amount of time, energy and money it will take to make the home they buy THEIR home.