1. Overpricing their home in a hot seller’s market.
Sellers think that the market is hotter than hot and whatever price they list at will sell in a few hours with buyers competing to get their home. The reality is that there’s a certain segment that is getting that kind of activity; the sub $200,000 category.
If a seller lists their $750,000 home for $850,000, don’t expect a frenzy of activity and be prepared to sit on the market for many months and pay the carrying costs that could amount to $10,000 or more.
2. Not staging their home accordingly.
Sellers think that the hot seller’s market means they don’t have to stage, or “merchandise” their home to make it attractive to buyers. It’s proven that proper staging is the best money spent when selling a home. Homes properly staged sell faster and for more money…as much as $10’s of thousands more depending on the price of the home.
3. Assuming that buyers want to fix the home.
Contrary to seller beliefs, most buyers don’t want to, or can’t make expensive repairs after purchasing a home. Buyers that are able to take on costly repairs don’t offer top dollar for the home.
4. Scenting a home.
Sellers that try to make their home smell nice can go overboard and make it a turn off to buyers. Removing smelly odors is good, overdoing it is bad. Here are some proven tips:
I. Set a bowl of vinegar out overnight and discard it the next day. It will soak up bad odors and leave the home with a fresh, clean smell.
II. Add 1 part vodka (the cheap stuff) and 2 parts water into a spray bottle and spray throughout the house. The alcohol will evaporate quickly and take odors with it.
III. Use oranges and coffee grounds. Both neutralize odors very well. Throw them down garbage disposals, trash cans, kitty litter boxes, etc. to get rid of those pesky odors.
5. Leaving valuables or private things laying around.
If it’s worth something to you, it’s worth something to a thief. Don’t leave valuable laying around. Put it in a safe deposit box or somewhere else that’s secure. Don’t leave it to chance.
There you have it. The 5 biggest mistakes that cost sellers thousands of dollars each Spring. What would you add to the list?