When selling your home, it’s easy to get stuck in a vacuum. You have a certain idea of what the market should pay for your home and what may or may not be an issue. After all, you know your home, right? Your home has x, y and z. The location can’t be beat. It’s just around the corner from the fabulous restaurant’, park, coffee shop, school, and so forth. However, buyers and agents coming through your home might not see the same picture. Sellers often fear that if they disclose too much or provide too many details it could affect their ability to sell for the best price. However, failure to disclose could open you up to liability after the sale.
- Overpricing your home
If your home is overpriced, two things won’t happen: showings
or offers. The price is what sets the tone for showings. It is the
nonverbal message that either invites or discourages activity. If your home is priced too high, buyers that can afford it may be interested in something else, as they can go higher in price range, while the audience for whom it was actually intended price-wise is usually shut out. To avoid frustration over offers much lower than your set price, have an open discussion with your real estate agent to set the right price for your home.
- Making showings difficult
Restricted showing times or having to be present for all showings
can impact the ability of showing traffic through your home. If there are umpteen instructions or restrictions, agents and their buyers will simply move on to those properties with fewer rules. Work with your real estate agent to find a way to make showings convenient for both you as the seller as well as for potential buyers.
- Not countering an offer
While everyone would love to get the most for their home, a seller also needs to keep a realistic balance. It is too easy to get hung up on the starting number in an offer, when the focus should be on what the end result is. The opening offer is simply that: a starting point. It gets the conversation going and results in, hopefully, a happy medium that is amenable for the buyer and seller. Not countering an offer is like having a one-way conversation. It won’t work. How can you move to “sold” if you can’t have a dialogue of back and forth? It doesn’t mean that the buyers aren’t serious, they are simply being conservative in their first offer to get a feel for how the negotiation is going to go. It also doesn’t mean that that is the most they are willing to pay, unless the offer was positioned that way. Failure to counter sends a discouraging signal to the buyer that can create an uncomfortable situation, perceived or real. Buyers want to do business with sellers who are eager to do business with them.