Common Mistakes Home Sellers Make
Is your house sitting on property listings too long? If buyers aren’t taking the bait, double check your selling process with these common mistakes. You never know what you might have missed.
“I’m not ready”
Is what your house might be saying. Before plunging into the world of real estate, make sure you’re fully prepared. Like any player about to face a boss fight, fill up your inventory and research. This means you have to make your house ready. Cleaning, decluttering, and depersonalising to name a few. Of course, ready yourself too. This means reading and researching on the market, your area and on your neighbourhood. Remember, knowledge is power.
I’m selling my house! Hello?
In other words, promotion. Most sellers make the mistake of not making friends with the internet. The internet is a buyer’s best friend. It’s here that they do their preliminary search on property listings. In fact, almost 50% of successful buyers found their homes on the net. So aside from your trusty old friend Mr. Newspaper, list your property online here.
If you’ve already listed your house online, then your problem may lie on how you promoted. And when on the net, your best weapons are photographs! Either, they are not enough for your buyers to feel or see your house–quantity, or the photos you took did not appeal–quality. Most successful sellers usually post 15 up to 20 photos. Now don’t overdo it and post 25+ photos. This can be as much as a turn off to your buyers—especially if you’re just pushing it and posting multiple identical pictures. For more info on home photography, check our guide.
That’s not in our deal
Situation: You keep attracting buyers for showings with your amazing photography skills and maybe some *cough* photoshop. But they always leave without a follow-up call. What you’re experiencing might be the “dream house” effect. You might be creating an illusion with your advertisements that your “real” house can’t compete against. This might be unintentional so go fix it. You don’t want more potential buyers disappointed, or worse, spreading the word around.
Be transparent about past issues of the house. Did your downstairs ceiling have major water leakage problems two years ago? Does your front door often locks by itself? Disclose all of these to your buyers or better yet have them checked or repaired before going on to sell. Remember, match what you offer and keep true to your house. False claims might ruin your reputation and further lower your chances of selling.
I ran out of subtitle ideas okay. Moving on.
A lot of sellers have this as their main problem. People love their homes. You might have raised a family here or you’ve lived here your entire life, but you can’t price your house because it was awesome for you. Buyers won’t appreciate that. Price objectively. Search around for “for sale” houses similar to yours in your neighbourhood or similar neighbourhoods and list their price ranges. Base your price on them and you’ll get a reasonable tag on your home.
Make your house belong
Belong to what you ask? To your neighbourhood. Sounds silly right? Let’s switch shoes with our buyers for a second. If you’re buying a house, what is the first thing you consider? The location. Or more specifically, the neighbourhood. It’s because buyers know that this neighbourhood houses middle class people, or that neighbourhood houses celebrities. They can then assess which neighbourhood fits their budget and needs. Any outliers in the price range of a neighbourhood would expect to sit unsold because they don’t belong to their neighbourhood. So when customizing or adding some spice to your house to up its value, keep your neighbourhood in mind! It might appeal but it also might not be what buyers are looking for.
Selling your own home is tough. Apart from the preparation and constant showings, the stress of a deal not being able to push through is no joking matter. With these tips and examples, you’ll be able to free yourself of your “prison” house and let others make a paradise out of it.