You often hear about naive buyers and themistakes they’ve made, but what about theslipups by sellers?Yes, believe it or not, sellers also make mistakes.And sometimes those mistakes mean lost salesand longer days on the market.
The most prevalent mistakeby sellers is insisting on toohigh a price. Sellers may wanta big return on their investmentbecause they’ve invested time, money andemotion in a home. However, sellers may haveto lower their expectations, as things likeupgrades or a home’s location on a busy streetmay not be to everyone’s taste.
Sellers should listen to their realestate agents. An agent has thecomparables, understands thelocal market and knows what a home is reallyworth.
Sellers also can be inflexible about arrangingappointments. By not showing in the eveningsor on Sundays, sellers arereducing the pool of potentialbuyers. Many sellers also wantto be there for showings or openhouses, which is a big mistake.Potential buyers may feel uncomfortable andwon’t be able to see themselves living there.
Fatigue is a problem amongsellers. It may be difficult tokeep a home in show condition,but it is necessary. Dirtydishes, unmade beds and dust bunnies will notget a seller the best price. Neither will toys andunpleasant reminders of Fluffy and Fido.Pets, by the way, should also be out of the wayduring viewings.
Many sellers also find theprocess of negotiationsdifficult. Sellers shouldn’ttake lowball offers personally.Low bids can be, and often are, increased.Sellers should respond quickly to everyoffer, and they should not stall while waiting fora better one to come in. Sellers who are in ahurry can offer incentives like paying closingcosts.
Last, sellers should not wait for spring.Sellers can attract serious buyers during the off-season by highlighting fall landscaping orpromoting the property as a cozy winter retreat.