The 5 biggest mistakes that sellers make
1. Don’t use the for-sale-by-owner (FSBO) route
Most sellers who choose the FSBO strategy do so in an attempt to avoid paying agent commission fees, and many actually feel they have the skills to sell a home on their own. But, as seen in one of widely popular posts, “10 reasons why for-sale-by owner” This is and probably can be one of the most costly mistakes a seller can make.
2. Improperly preparing their property for sale
Agents shared stories of sellers whose homes smelled like smoke or pets (sorry, Fido), and sellers that were hesitant to spend money on professional cleaning services to remove those odors. “They swear they smoke outside, yet the home reeks of smoke,” Eric Larkin says. In addition to issues with hard-to-clean odors, some sellers have a hard time decluttering their home so it can always be ready for showings.
Sonya Mays suggests sellers remove photos and knick-knacks from the walls and throughly clean kitchens, bathrooms, etc. Furthermore, she tells sellers to get their home’s curb appeal up to par. “If the home lacks curb appeal, then it’s hard to get people inside if they don’t like the outside.”
On the other hand, Jay Thompson says sellers need to be careful not to go overboard with home improvements. “Thinking a home improvement expense is going to add an equal dollar value to the home [is a mistake],” he says. “Thinking a home maintenance expense is going to add ANY dollar value to a home [is a mistake]”
3. A lack of showing etiquette
Showings are the initial opportunity prospective buyers have to get a feel for the home and imagine themselves living there. Sellers can sour the showing by refusing to exit the home, or lurking in the shadows as buyers go through rooms.
Moreover, some sellers are hesitant to even hold a showing, which greatly diminishes the possibilities of the house actually ever being sold. Sonya Mays says it’s ridiculous to expect buyers to make an offer solely on photos.
4. Sharing too much on social media.
Matthew Leprino says he’s noticing that sellers are increasingly taking to social media to vent about the home selling process. Another faux pas is when sellers share incorrect listing information on sites such as Facebook or Craigslist.
5. Overpricing the home
This is actually the top struggle we as will face with buyers: “[Sellers] either believing that their house is worth more than the market suggests or that a low commission can save them money,” Andrew Wetzel says.
Furthermore, agents discussed the possibility of constantly turning down offers. Barb Hassan says some sellers refuse initial offers because they believe “they’ll get more as time goes by” or because “it’s too new of a listing, and they want to wait for a better offer.” Of course, it’s important to be smart about the offers that come to the table, but depending on the market, sellers can end up leaving themselves out to dry.