Common Avoiding Mistakes

Becoming overly emotional

We all invest time, money, and emotion in acquiring and improving a home, so it's no surprise that we develop a strong emotional connection to it. We have memories and associations that may be hard to say goodbye to. Take time to acknowledge memories, talk about them with your family, and take some photos. Remember what attracted you to this house, what improvements you have made, and highlight these in your marketing strategy. Then, it's time to stop thinking of it as your home and instead, as a product that you're trying to sell for the most money possible. Getting the maximum for your home will help facilitate the plans you have for the future!

Failing to hire the best agent

A good agent can help you avoid a multitude of potential issues associated with your sale, before they happen. They're skilled at setting a strategic starting price, provide top-tier marketing, are familiar with buyer activity in your area, and are experts at negotiating the maximum offer. They are also intimately familiar with contracts and every possible strategy a buyer agent might use. You may be tempted to try selling it yourself in order to avoid a commission, however many of our past clients who once felt this way that have since become our biggest advocates. There are good reasons for this.

Not disclosing known problems

Do not hide or minimize any issues with your property's condition, they will come to light during the buyer inspection. This is why we advise every seller do a pre-listing inspection. It will alert you to areas that need to be repaired or other potential problems. You can then resolve these issues before listing, or at least be aware of them so you can negotiate with a buyer on a resolution. Be aware that buyers who are looking for a turnkey property will not consider purchasing your home if there are unresolved issues, or they will use those issues as leverage to reduce the final sale price.

Setting an unrealistic starting price

Setting the right starting price is absolutely critical. Buyer agents have access to the same sales data that we do, and they will know whether you are over-priced. Doing that puts a psychological ceiling on a buyer's maximum offer and discourages competition. Don't be concerned about setting a price on the low side of the established price range. We have had properties sell for 30-80% more than our initial asking price as a result of the bidding wars that often erupt around our listings. Just remember that as much as we can influence the buyers through our marketing, ultimately it is the buyer pool who determine what your house is worth. We can only influence their perception of value, and our entire process is designed to do exactly that.

Inadequate preparation

Failing to prepare your home properly for sale can result in a lower final sale price or failing to get any offers at all. A home inspection will alert you to major issues that require your attention. We will consult with you on which issues are pressing, and which ones you can safely ignore. Potential buyers who notice obvious faults may wonder whether your home has more serious issues that could rear their heads later. You may not have the time or finances to undertake renovations, but do not underestimate the effect that basic repairs and decluttering can achieve. A new coat of paint, fixing loose handrails, replacing doors, or a thorough cleaning can go a long way toward making a powerful first impression.

Skipping the staging process

Did you know that according to statistics published by the National Association of Realtors®, 58% of buyer agents stated that home staging had an effect on their buyers' view of a home and 81% said that a home's staging made it easier for their buyers to visualize a property as their future home? This doesn't always mean you will need us to bring in additional furniture or change out what you already have, sometimes it just requires reworking the layout and adding a few decorative elements. We are experts at this and will help you make your home showcase-ready, at no additional cost to you!

Failing to stick to the plan

Our process for selling homes, including limiting the initial showing window and encouraging all qualified buyers to show up at the exclusive launch day showing, is specifically designed to maximize competition by instilling buyers with anxiety and a fear of missing out. It works much the same way an auction does, but only if you are as committed as we are to seeing it through. Sellers have a lot on the line, and it can be very tempting to resort to tactics that communicate desperation to buyers. Don't succumb to this temptation! Our process has earned sellers massive returns, but only when they followed our recommendations to the letter. Our client testimonials attest to this fact.

Accepting unqualified offers

Unqualified buyers who wish to purchase your home with a contingency around financing or selling their own house can cause serious difficulties for you. Precarious financing arrangements may fall through, or their home may not sell in time. We will talk through all of the possible outcomes with you after speaking with a buyer's agent and lender, to determine the likelihood of problems. We never advise a seller to accept an offer from a buyer without a preapproval letter from their lender showing they are likely to be approved for the loan and can close.