Costly Mistakes Sellers Make When Selling Windsor Home

Posted in General Blog | 16/02/2013

Windsor Property

Windsor Property

The majority of sellers are very eager to sell their Windsor homes as quickly as possible.  For some, they have waited a several years for the market to improve, and now that it looks like this is happening, sellers want out.  Maybe they have been waiting to downsize, or perhaps they are busting out of the seams with a too small home and need to upgrade, but it’s important the sellers take a deep breath and sell their property with a good marketing strategy, a well priced home that is absent of repairs and thoroughly clean.

Let’s take it step by step:

Mistake 1

Pricing your home what you think it’s worth and not what the market indicates is a huge mistake that many sellers make.  Even if you believe your home is worth a certain price, but the neighbourhood and market conditions say otherwise, then you need to price what buyers will pay, which is the latter.  If you choose to ignore this advice, then once word gets out that your home is overpriced, it will sit.  Of course you can list your home for whatever you desire, but remember, it will need to be appraised if a buyer is seeking a mortgage.  And that’s only if you get traffic in the first place.

Mistake 2

Do not put your home on the market until it’s ready.  Creating that first impression is vital whenever you sell a home, so don’t list your home to test the waters if it’s not ready.  Presentation is everything, so you don’t want a buyer to walk in and notice the dirty carpeting that needs to be cleaned or replaced with an explanation that you haven’t gotten around to doing this yet.  Buyers will be immediately turned off. The same can go for curb appeal.  By not creating this, buyers won’t want to make the effort to learn more about your home if you haven’t at least given them a reason to.

Mistake 3

Don’t over build your property so that it stands out from the rest of the neighbourhood.  Most buyers don’t want to buy the most expensive home on the block.  When you make large additions and upgrades, you rarely, if ever, get your money back.  Stay true to the original blueprint otherwise your home may stand out like a sore thumb.

Mistake 4

Not hiring a professional, full-time real estate agent can create problems when you are in a hurry to sell your home.  Now is not the time to hire your best friend who sells property on the side.  Think about it this way as well:  Can your friendship survive if you receive bad real estate advice or if the home price needs to be lowered.  While it’s nice to work with friends, this is when you want to hire a an agent that has a proven track record.

Mistake 5

Don’t think with your heart, but rather with your head when you list your home.  This means it is necessary for you to leave your feelings at the front door.  Buyers always find something wrong with a home.  They either don’t like a paint colour, insist the home needs remodeling or updating or they don’t like the landscaping.  Regardless, keep in mind that if they didn’t like the property, they wouldn’t be making an offer.  However, they want to get the best price they can.  Your property needs to be viewed and marketed as a commodity.

Mistake 6

images-16Don’t hide repairs.  If you know that your water heater is on its way out, or you have a leaky roof or basement, then this can come back to haunt you.  This can be a costly mistake that will only cause you problems after the home is sold.  Be honest and disclose anything that is wrong with your home.

Mistake 7

If you do not make your home available for showings, appraisers or home inspectors, or responsive to your real estate agent, you can delay the sale of your home.  Do your research, be organized, create a clean, welcoming environment, especially for those last-minute showings, and follow the suggestions of your agent in order to get your home sold.

Following these simple steps will mean that a SOLD sign will soon be up at your home sooner, rather than later.  Hard work always pays off.

 

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