Today we’re expanding on our previous video about mistakes that can be made in this market. You can watch our previous video here. Today we’re discussing the three biggest mistakes that home sellers can make in this market.
1. Days on market: the home has been on the market for too long. In the past, potential buyers would usually come to us as the agents and ask why the home was on the market for so long. Now, with the availability of that information on the Internet, most buyers won’t even ask, but rather discount the home entirely because they think something is wrong with the price. Plus, the average time that buyers think is too long on the market is just two weeks—not a lot of breathing room.
2. Don’t “test the market.” Price your home appropriately the first time around. Time is the enemy in this market, so don’t put your home on the market unless you’re serious about selling it. Buyers have access to the sale history of the home and will see that the home was listed and then taken off the market because the seller purposely overpriced the property and didn’t get an offer they were looking for.
3. Choosing an offer. Many homeowners will choose an offer without consulting their agent beforehand. This can be a problem because your agent, if they have done their job right, will see the best offers that come in at the beginning. They know which offer will be the best for you. They also negotiate with the buyer in earnest, ensuring that the buyer doesn’t think you’re not serious about the offer they’ve submitted.
If you have any questions about selling your home, don’t hesitate to give me a call or send me an email soon. I’d be glad to help.