Five Tips to Prevent Home Selling Success… or How NOT to Sell Your Home

Home Selling TipsI hear this phrase often — I’m having a hard time selling my house!

Well, it could be caused by the current market conditions or that you live next door to the freeway. Or, you might be inadvertently doing something that’s standing in the way of selling your home.

Here are five tips that can prevent home selling success:

1. You list your house at your preferred, higher asking price for the first month or two, and then slowly lower it when you see little action. No! If you really want to sell your house quickly, it’s best to list it from the start at a price that will get maximum attention from buyers and Realtors. This will often help you avoid making further, deeper price reductions later, which can make your house look less desirable.

If your house is already listed and you need to lower the price, don’t lower it by $999. Lower it so it stands out against the competition at a price that’s just slightly below similar houses.

2. When you find a buyer, be sure to make multiple counter offers until the buyer buckles and gives you the amount you want. No! This is a good way to annoy a buyer. If you receive a reasonable offer within close range of your asking price — take it! Many a seller has kicked himself for trying to hold out for a price… and then the buyer walks away. These sellers often end up selling to another buyer for less than the first offer they received.

3. When you reach a mutually accepted selling price, ask to rent back your home for three to six months while you look to purchase another home for yourself. No! When you find a buyer, strive to be as agreeable to their terms as possible. Don’t expect a buyer to wait patiently — there are many other home sellers who’ll agree to the terms that a buyer requests.

4. When showing your home, make it as personable as possible so buyers can feel the warmth and happiness of the family who has lived there. Nooo! Buyers want a blank canvas where they can project their own lives, so hide your family photos, religious preferences and achievement awards. Unless, by chance you have an Oscar — in which case owning your home would give the buyer some bragging rights.

5. Don’t worry about fixing the small things… cracked tiles, loose cabinets, wobbly doorknobs. Buyers shouldn’t expect perfection at today’s lower home prices. Nope! Fix the small things. Buyers often assume if there are a lot of small flaws on the surface, there may be large flaws hidden from view.  Also, the more flaws a house has, the lower the offer price you’ll likely receive.

Stay tuned for five more tips for preventing home selling success! Coming soon…

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Comments

Gale you are right on!

I have a situation right now with a seller who treated a buyer miserably and then begged for them to come back to the table when the buyer got thoroughly disgusted and walked away. Of course the buyer went and bought something else from a much more reasonable and nice seller.

It’s still a buyers market out there and sellers should be treating buyers like gold…or at the very least with common courtesy and decency.

Thank you Alexis for providing a current example of what happens when sellers try to push a buyer into following their lead. Sellers must remember there’s a lot of competition out there and the seller who treats the buyer well will be the one who gets to call the moving van.

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