3 BIG Mistakes of Selling

Listing too High/ too Low

It is obvious that every seller wants to get the most money out of their property. However, pricing too high or too low can often present negatively. Pricing too high can scare a large percentage of buyers, having them lose interest prior to even seeing the property. Pricing low can be attractive and wheel many buyers in for a showing; however, they may also interpret the lower price range as an indication of something being wrong with the property and avoid commitment.
As realtors, we have a handy formula which we often demonstrate to our seller clients so they can better understand the mind of a buyer when it comes to home prices; Pricing above market value attracts only 10% of buyer, pricing at market value attracts 30%, while pricing slightly below market value attracts 60%. Keeping this in mind is great, while being mindful of your current situation and the reason behind the selling. Every seller is on a different time frame, and expectations vary. Important aspect to setting a listing price is to blend with the current market so you don’t end up being that one property that strayed away and became the bad example.
Basically, price your property according to its fair value, taking market conditions as well as other factors into consideration.

Not Presenting Well

Staging, Staging, Staging!!!
 It can be difficult to live in a home that is not set up to your convenience; however, if you want to get the most for your home, this is a crucial aspect to selling. Your home has to show well, and must be as neutral as possible in order to attract a variety of buyers from various levels of demographics (different cultures, religion, etc.). Failing to ensure your home is clean, presentable and welcoming will quickly turn away potential buyers. Your home has to be kept as clean, as odourless, and as appealing as possible at all times throughout your selling period, with exceptions of sleep time. If pets are around the home during a showing, they too have to be presentable, remember that not everyone likes the idea of pets in a home, and to avoid losing those buyers the pets have to be least visible to the eye.

Selling Personal Value

Many sellers believe that is it a good idea to remain home during a showing, after all who knows more about their home than they do???  This is true, the owner knows their property better than anyone else, and surely there can be a valid piece of information that he/she can share to a potential buyer during a showing. BUT a lot of the time buyers can misinterpret something that one may believe to be a positive trait of a home, as in fact being a negative trait to their standards. Therefore, do not push your values onto someone else, it is always a good idea to give the buyer space and allow them to decide for themselves.
Keep in mind that buying a home can be a stressful experience considering it is likely the largest investment anyone will ever make. They need to feel that they are in charge and that there is no pressure. If you do stay during a showing, be available to answer questions but do not exceed to the level of feeding them information they have not requested, overwhelming them will certainly turn them away to look elsewhere.