3 Critical Home Seller Mistakes and How to Avoid Them

Jennifer Y. Ross
Published on April 3, 2019

3 Critical Home Seller Mistakes and How to Avoid Them

Real estate isn’t a game for the faint of heart. To ensure that you walk away from the deal with the maximum amount of money possible requires following a time-tested process.

Unfortunately, not all real estate agents counsel their clients on the do’s and don’ts of selling a home so mistakes happen frequently.

Let’s take a look at three of the most critical mistakes that home sellers make and how to avoid making them.      

1. Overpricing the Home

A home sale isn’t like a yard sale where folks haggle over prices. Sure, there may be price negotiations, but don’t count on them when coming up with a price for the home.

Pricing high to give the buyer “wiggle room” to negotiate isn’t wise.

Your agent will place your home on the Multiple Listing Service (MLS)  database shortly after taking your listing. He or she will enter all the particulars of the home and the price.

Other agents in the area will search the MLS for homes that their buying clients may be interested in viewing. These searches are almost always based on price.

When you overprice your home, it will show up in searches for larger, newer and nicer homes – homes that yours can’t compare with.

So, it will sit on the market with view buyers viewing it in person. When a home sits for too long, buyers’ agents and their clients get the impression that you aren’t a serious seller and, in the end, your home may become stigmatized.

A home’s value is determined by what buyers are willing to pay for it, not what the homeowner wants to get for it.

To determine what buyers are willing to pay requires an analysis of homes similar to yours that have recently sold.

It doesn’t matter what your friend Connie across the street is asking for her house, it only matters what she finally realizes when the deal closes.

The biggest mistake a home seller can make is to lose that most valuable marketing period – the first few weeks after the home hits the market.

Unless the market is red-hot for sellers and multiple offers are the norm, work with your agent to determine the home’s value and price it right.

2. Not preparing the house

“You only have one chance to make a good first impression,” isn’t just excellent advice for a job interview. Houses make impressions as well and if you don’t take the time to ensure yours makes an impact immediately you may end up leaving money on the table.

Preparation starts with cleaning the home until it is immaculate. Paint any walls that need it, make repairs to dripping faucets, sagging screens and loose banisters.

Staging the home – hiring a decorator to rearrange furniture and add decorative items – isn’t a must but it has proven to bring more money at the close of the sale.

Finally, never neglect the exterior of the home. What a buyer sees when he drives up to the curb must be compelling enough to make him want to see what’s on the inside.

3. Putting restrictions on showings

Being flexible is a must when your home is on the market. This means not putting too many restrictions on showing times.

If you require a 24-hour notice or will only allow the home to be shown during certain hours, you restrict the pool of buyers that may be interested in purchasing the home.

Flexibility also means being willing to leave the home at a moment’s notice so that an agent can show it. It means leaving for the entire day if your agent wants to hold an open house.

Yes, it’s a bother and it’s inconvenient. But the homeowner hanging around during showings and open houses is intimidating to buyers and they won’t feel free to truly investigate the house.

Bonus Tip

One of the biggest mistakes a homeowner can make is to be less-than truthful about all aspects of the home.

Disclosure is your duty non-disclosure of a known material fact can land you in court. You must tell a potential buyer both the good and the bad about the house and the neighborhood.

Ask your real estate agent any questions you may have about the disclosure process and your role in it.

Follow along on Social Media:

facebook.com/JenniferYRossRealtor

#FromNYCtoWestchesterLiving Facebook Group

instagram.com/TheWestchesterLivingTeam


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Introduction to Jennifer Y. Ross & The Westchester Living Team at COMPASS

Jennifer comes from Platinum Drive to Compass as an experienced agent. She epitomized Platinum Drive Realty’s motto “I grew up here. I live here. I sell homes here” and she is known for providing each of her clients with an exceptional experience guided by her expert local knowledge. She works tirelessly to ensure each of her clients has a professional, enjoyable and successful Westchester community & home buying search or selling experience. She often remains very friendly with her clients and welcomes the opportunity to be an ongoing resource as they settle into Westchester Living. Every step she takes will embody her core principals; integrity can never be compromised, clients’ interests always come first and character, commitment, and passion truly matter. For her buyer clients, Jennifer looks forward to the opportunity of being “Your NYC to Westchester” guide and real estate broker. For her seller clients, Jennifer is proficient at implementing an aggressive marketing strategy in order to obtain the best price possible in a highly efficient and seamless manner. Jennifer thoroughly enjoys assisting buyer clients in navigating the landscape of the Westchester residential real estate market. She is skilled at enabling clients to define where they see opportunity & facilitating the process from initial search through closing. Jennifer was awarded the Platinum Drive Star Award for Outstanding Performance in Sales & Client Services in 2014 & Platinum Drive Realty’s Superstar Award for Excellence in Sales and Client Services 2015 & 2016 for her outstanding performance in sales and client service. In addition to her passion for local real estate, Jennifer has a firsthand understanding of home renovation and new construction. Upon moving from NYC to Scarsdale, she and her husband performed an extensive renovation on their first home. After completion, they moved onto their second project in Larchmont, a full house renovation and expansion. More recently she is active with local developers who specialize in new home construction, home expansions and renovations. Jennifer has the ability to understand a home’s full potential and can help clients find or create their dream home. Jennifer was the Manager of Platinum Drive Realty’s Larchmont Office. Jennifer was raised in Scarsdale. After graduating from Scarsdale High School, Jennifer received a BA in Child Study & Sociology from Tufts University and an MA in Language & Literacy from New York University. Jennifer currently lives in Larchmont with her husband, Michael, and their three sons, Braden, Devon & Zane. She specializes in communities in Southern Westchester with a concentrated focus on the Sound Shore Communities of Larchmont, Mamaroneck, Rye Neck, Rye, New Rochelle as well as her hometown of Scarsdale. Prior to real estate, Jennifer was a teacher in the Mamaroneck Public Schools. Jennifer has a deep understanding of the local school systems and the needs of young families.

Professional Associations & Accreditation

Jennifer is a Licensed Associate Real Estate Broker & has her Accredited Buyer Representative designation (ABR) and her Seller Representative Specialist designation (SRS).  Jennifer is a member of the Hudson Gateway Association of Realtors & the National Association of Realtors. Jennifer’s

Website: westchesterliving.house

Jennifer Facebook Page:  facebook.com/JenniferYRossRealtor

Jennifer’s #FromNYCtoWestchesterLiving Facebook Group

Jennifer’s Instagram: instagram.com/TheWestchesterLivingTeam

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