The 6 biggest mistakes homeowners make when trying to sell their home
Mistake # 1: One of the biggest mistakes homeowners make is pricing a home too high and then failing to reduce the price in a timely manner. In residential real estate there is a “60 Day Rule” which says that if you don’t have a firm offer in 60 days of listing the home, then you have listed it too high. In today’s market it is more like a “30 Day Rule”.
Mistake # 2: Pricing your house more than competing homes. It is important to have a real estate agent with a strong knowledge of the local inventory in your market. If someone is deciding between buying your house versus another and both are similar but your house is priced 15% higher … guess who is going to lose?
Mistake # 3: Not putting your house in the best possible condition. There are many things you can do to put your house in the best possible condition for sale. For a full list of things to do, visit my blog on “Getting a house ready for sale.” https://matthewcooneyhomes.com/blog/make-first-impression-last-preparing-house-sell/
Mistake # 4: Making it difficult to show. Buyers today are impulsive. If a buyer wants to see a house within 24 hours and the seller doesn’t make it available for a couple of days, there is a chance that the buyer will lose interest or buy another house. This is one of several reasons that over 90% of “For Sale by Owners” end up listing with a licensed agent.
Mistake # 5: Refusing reasonable offers early on. There have been more than a few regretful homeowners who wished they had taken that reasonable offer early on. The cycle of home sales is such that a newly listed home on the market will attract the most and best offers early on.
Mistake # 6: Not understanding that your “home” is a buyer’s house until they move in. Homeowners often ascribe false value to their home based on the memories that they have enjoyed. Buyers do not have the same emotional attachment to a house that the seller does. If this sale doesn’t work out for them, there is another one which will.
For more information, contact:
Coldwell Banker Residential Brokerage
211 South Street
Morristown, NJ 07960
(O) 973-267-8990 x153