It’s hard enough when you’re stuck selling your home in a buyer’s market. You have so much competition as it is. But this MSN article also talks about what’s important when selling your home and what not to do. I wanted to go over the main points because this is so important.
1. No photos. So you want to get your home listed Friday to make sure it’s available on the weekend but the photographer can’t come out until Monday. So you’ll list it and just add the photos early in the week. That’s a bad idea. Every buyer who sees your home with no photos will not go back once the photos are in to look at your listing again. They’ll pass over it the first time and won’t remember they wanted to see pictures. Another bad idea is only listing photos of the exterior of your home. Buyers will automatically assume something is wrong in the interior that you didn’t want to show. It will prevent showings. As always, make sure your home is in showing condition prior to scheduling photos so that it shows in great shape.
2. Not giving all the details. It’s very common these days to be viewing short sales and foreclosures, just because of the sheer number of them. But what buyers want to know when something says “third-party approval” is who that third party is. What’s the estimate on when they’ll hear back if they’re interested? It’s as easy as saying a home needs the bank’s approval and you’ll get it in 2 weeks. Even better, if the bank has already approved a price reduction, be sure to mention that it’s at a bank-approved price.
3. Lies or exaggeration. Do not say your home is “freshly painted” if that paint job happened 4 years ago. I just had clients visit a so-called “freshly painted” and “meticulously kept” rental that had marks over the walls and cabinets falling off the hinges. Be honest. Do talk about the great features of your home, as long as they’re truthful. While your carpet may not be new, if it’s neutral in color, that’s a great selling feature so people don’t have to worry about their furniture not matching.
4. Selling as is. While it’s not always the wrong thing to do, if you’re worried about cosmetic repairs or replacing an out-of-date furnace, just be up front about it. It’s likely that it will come up during negotiations anyway. I’ve seen plenty of sellers offering a $2,000 carpet allowance or $1500 for the buyer to choose new appliances. This is better than having the buyer think everything has been removed from the house to the studs.
I’d love to know what other tips you have for sellers looking to sell their homes at the moment. What would you suggest they not do? Please be sure to leave me a comment or visit me online.