Today’s real estate market has undergone many changes. The industry is more tightly regulated, buyers have a higher level of expectation and sellers need to be proactive in preparing their house for sale. Any seller who ignores the advice of real estate professionals will likely fail to sell for the price they want. Here are a few strategies that some sellers adopt despite professional advice against them.
Let’s overprice the house … I can always come down Generally, a new listing attracts the most attention during the first four weeks. Buyers and realtors will probably bypass an overpriced listing. By the time the sellers decide to reduce their price, the relevant buyers will have already visited the competition.
Just cleaning the house is enough to attract buyers Today’s buyers expect a house to be not just clean, but to look comfortable and inviting. Staged homes show better online, attract more buyer traffic and allow buyers to visualize themselves living in the home – making it more likely that an offer will be forthcoming sooner rather than later.
Let’s sell “As Is” – I don’t want to do repairs If your house needs repairs and upgrades and you decide to sell “As Is”, be prepared to get only a very low offer. Most buyers do not want to undertake major repairs and upgrades – unless they get the house for practically nothing. A small investment in doing needed repairs and upgrades will enable you to sell for a price that is closer to average market value.
My house will sell faster if it is vacant Many sellers think that vacant rooms make a house seem larger. Nothing could be farther from the truth. Vacant homes usually take longer to sell because
a) Empty rooms are actually perceived to be smaller. All buyers see are the walls and the floor so mentally they have no point of reference (eg. What size bed/sofa/dining table will fit here? Is there space for a double dresser/china hutch? Will my desk fit?)
b) Unless a house is furnished and staged, it is difficult for most buyers to imagine themselves living in it – there’s no emotional connection to the home
The bottom line: home owners will be more successful in selling their house if they are willing to listen to the advice of their realtor, home stager and other industry professionals.