Rookie Mistakes when Selling your Home or Condo

Want to Sell Your Home Fast, For the Right Price?   

“Why can’t my home sell?”   We hear that every day…. We don’t know all of the answers, but we know that beginners will make “Rookie” mistakes, and these mistakes can cost you money, and worse may cause you to lose a sale!!! To compound the problem, half of the Realtors will go along with you for the ride, just to get your listing!!! If your home or condo is sitting while buyers come and go, this could be for entirely valid reasons, and some of them may surprise you. If you are in a market that has been punished because of layoffs or homes being overbuilt, there is not a lot that you can do, other than to either drastically reduce the price, or even consider renting until market conditions change. But there are other reasons that you should consider. But we must warn you, that if you are not good at self-criticism, you may not be able to realistically recognize the problem, and you will never find a solution. These “Rookie” mistakes come from years of research, and from professionals that have sold billions in real estate. The bottom line is that if you are the problem, fix it. If you have a Realtor, ask them to be honest with you.

Rookie Mistake No. 1: Overpricing your Castle

Let’s not kid ourselves, all sellers want to get top dollar for their home, lot, townhome or condo. Unfortunately, says Denise Stewart, a top real estate agent with Keller Williams in Southern Florida, “When valuing a property, there are facts, and there is fiction, and the market will tell you what your home is worth”.  Stewart continues:  “Conditions change, and no 2 homes are exactly the same, so sometimes comparing what you may believe is a true comparable, may lead you to a property overestimation. Plus, most Sellers cannot see any negatives in the property they are parting with, and to the contrary many Sellers wear blinders to obvious negative factors. Calling your home waterfront, because it is built on a retention area is one example”.

If you want a realistic value of your home, ask more than one Realtor to prepare a Comparative Market Analysis (CMA) for you. Good Realtors are independent, and are not emotionally attached to your home.  Generally this is a free service…. If the prices they come up with are lower that you want, don’t just go hire another Realtor, consider listing at or near your Home’s true value.

Rookie Mistake No. 2: Pricing in your Precious & Priceless Furniture

There is a good reason why most Realtors do not like to sell furniture as part of a transaction. Other than not getting paid for selling the furniture, and the sale of furniture screwing up your appraisal, the sale becomes an issue because Buyers will generally value furniture based on a “Yard-sale” value, while Sellers valuation is based on taking a small percentage off the actual purchase price. A recent poll was taken, and Sellers used terms like “Replacement-value” and “True-value”, and Buyers used opposite terms like “Liquidation-value” and “Donation-value”. There are many stories told by Agents across the country where emotional arguments caused deals crumble over night stands and sconces. The bottom line is that as a Seller consider selling with no furniture, and if the Buyer wants to make an offer AFTER agreeing to the price of your home, consider selling the furniture then, and only then.

Rookie Mistake No. 3: Not Knowing When to say When… (Not budging on Your Price)

Be practical, and use common sense. Better yet, pretend like you are giving a friend some advice. Just as you want to sell for the best and highest price, Buyers want to pay less, and guess what, you want the Buyers money and they may have options. Unless you are in a Seller’s Market, consider every offer as if it is the only offer you are ever going to see. (FYI, Rookies make a lot fewer mistakes in a Seller’s Market).

Rookie Mistake No. 4: Not “De-Cluttering” Your Home

Whether you are selling a condo, home, or townhouse, it should look like a model home in a new development. Remember, you only get 1 chance to make a good first impression. If you have junk, get rid of it, or put it in a storage unit. People want to see a unit with their furniture, pictures and nick-knacks, not yours. If you think putting your stuff in the garage will work, think about that storage unit. If your home is not spotless, consider hiring a cleaning service. This could be a case where $150 could be the difference between selling and not selling your home.

Rookie Mistake No. 5: Bad Photographs…

Great photographs are essential to catch buyers’ attention. With 90% of Buyers searching on the internet, great pics are what will separate your home from your competition. If using a Realtor, insist that they take a lot of pictures, and recommend that a professional photographer be used. Denise Stewart from Fort Lauderdale tells her clients “Good photos can mean that 40% more buyers will see your home, and that is the single most important promotional aspect of selling your home”.

Rookie Mistake No. 5: Pictures, photos, posters, paintings, religious or political items.

Some Buyers look for reasons not to buy your home. Why give them any? Beauty is in the eyes of the beholder, and Religion and Political views should never be promoted to be on the safe side. If you are not sure if something could possibly be offensive, it may be, so put it in storage…

Rookie Mistake No. 6: Pets…

You may love your pet, and treat your dog like family. But not everyone is the same, and for various reasons you do not want your pet to be the reason why your home does not sell. Just the scent of a dog or cat is enough to deter certain buyers, so beware, and take all precautions to make your home as “pet de-cluttered” as possible. This means removing food bowls, litter boxes and toys from plain sight.

Rookie Mistake No. 7: Not “De-Odorizing”.

The longer you live in a home, the less you notice the unique smells (Odors) that may permeate from various rooms in your home. These odors could be in the kitchen, bathrooms, bedrooms, closets, attic, garage or almost any other room or area, including outside the home.

The last thing you need is a potential buyer asking if you have mold in your home because of a musty smell. You need to find someone that is impartial to come in your home and ask them if they can detect any odors, and don’t be offended if they say yes…

Rookie Mistake No. 8: Not Becoming Invisible.

If your home is being shown, you need to disappear. Simply put, buyers never want sellers around when they are looking at your home because they cannot ask questions. If they want to know something about your home, don’t worry, they will find a way to ask you…

If you want to ask a professional about selling your South Florida condo, you can call Denise Stewart @   866 783 6011, or email her:  Denise@condo.net