For sale or for stale?

Don't let these SELLER mistakes happen to you

1) Dangers of pricing your home too high
Pricing your home is a delicate situation, one that is best navigated by a real estate professional. A house is one of the largest sales you will likely make in your lifetime, and also one of the most emotional sales you are likely to make. You’ll want to make the most you can off of your sale, however, you and your broker must be wary of the pitfalls involved in pricing your home too high.
Most buyers work with a real estate broker to ensure they are protected and paying a fair price. All brokers use the same database for information regarding the fair market value of any home. If an agent supplies with you continuous market data in the neighbourhood of your home, have an open mind regardless of the original price you paid for your home; especially if you purchased your home without a broker. Agents can tell right away if a home is overpriced. With that said, agents will look at comparable homes in the area and if your home is priced significantly higher than those, it will more than likely be discarded and the agents will not bother requesting a visit to your home since they want to ensure their clients are getting the best home within their budget. When a home sits on the market for too long, buyers’ agents and their clients get the impression that you aren’t a serious seller or/and there are issues with the property and, in the end, your home may become stigmatized.

2) Not preparing your home for visits
I often hear buyers say they are turned off by the colors of the walls when they walk into a potential home of their dreams (As though they do not have any plans of painting the home themselves once they would move in). There are many individuals who have a difficult time seeing past seller’s unappealing furniture and distasteful paint colors. That is why I always ask seller’s to be receptive when alluding the topic of staging and fresh neutral paint tones to appeal to the masses. Studies show that a staged home appeals to a larger audience, assists with a quicker sale and gives you a better return on your investment. What could be better? In fact, home staging is important for every price point. In most properties, it shows a well maintained home that can appeal to most buyers. Often times, buyers have trouble attaching themselves to a space that still looks like it belongs to the current owner. When you put your home up for sale, you need to think of it as a product that needs to be successfully marketed. Home staging will make your home appeal to every taste and lifestyle and be more inviting to any buyer that walks through your door.
Clutter may suggest your home doesn’t measure up. Most of us, if honest, will admit that our daily lives involve a certain amount of clutter. Clutter is just another perpetrator of distraction. More importantly, though, your clutter may be sending a message that you don’t have enough space. Failing to tidy up, declutter and freshen the home will not only reduce your sale price but may also prevent you from getting a sale at all. For example, if you haven't attended to minor issues like a broken doorknob or leaking faucet, a potential buyer may wonder whether the house has larger, costlier issues that haven't been addressed either. The home needs to epitomize it has been well cared for by the owner.

3) Not accommodating visit requests
Being flexible is a must when your home is on the market. This means not putting too many restrictions on showing times. Flexibility also means being willing to leave the home at a moment’s notice so that an agent can show it and get it sold. When the homeowner is present for visits, the potential buyers almost feel as though they are invading someone’s personal space and it creates an immediate resistance in the buyer’s mind that “this is my potential future home”. I can fully comprehend that leaving your home on short notice, depersonalizing and keeping your home tidy may feel like an inconvenience. It can be unsettling as you watch your life rearranged to suit the tastes of others. But if selling your home in the shortest amount of time and for the most money is your goal, it is precisely those "others” who should be your focus.
Be mindful of what buyers will think before entering your home. Often times, buyers have trouble attaching themselves to a space that still looks like it belongs to the current owner. When you put your home up for sale, you need to think of it as a product that needs to be successfully marketed. Home staging will make your home appeal to every taste and lifestyle and be more inviting to any buyer that walks through your door.

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As a exclusive residential realtor and certification in Interior design, I hope this article was informative for you, feel free to contact me anytime for any real estate inquiries and subscribe below to receive interior design trends and updated market information.
-Mia

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T: 514.668.5164 E: miad@royallepage.ca