While the real estate market is doing extremely well, Realtor Dave Abdallah said that some sellers are still making some critical mistakes.
“A lot of sellers may not realize why their home isn’t selling,” he said. “But there are several common mistakes that a lot of sellers make that they may not even realize.”
Abdallah said the number one mistake sellers make is their listing price.
“Look at homes similar to yours in the area that have sold recently,” he said. “Look at ones in the three to four month range to determine the value.”
With pricing your home right, Abdallah said one of the causes for overpricing is renovations.
“Don’t make the mistake of tacking on renovation costs to your listing price,” he said. “Unfortunately, you won’t get dollar for dollar on any renovations you do to your home. If you spend $10,000 remodeling your bathroom, you can’t just add that to the list price.”
Another factor in valuing a home for resale that sellers may not be aware of is attachment.
“Whatever emotional attachment you have to the home itself does not increase the overall value,” Abdallah said. “You have to try to detach yourself and think objectively prior to selling. While it may be your first home or the home your children were raised in or whatever the case may be, it doesn’t impact the value to others.”
The way you sell is different than the way you live. — Dave Abdallah, realtor
When sellers are still living in the home, it can be difficult to trust strangers coming in and looking around, but Abdallah said that it’s very important for sellers to try to not be present during a showing.
“Don’t follow the buyer’s around,” he said. “Don’t be in the home. That goes for pets, too, if possible. Buys feel more comfortable with just the realtor present so that they can be open and honest about what they like or don’t like about the property.”
Repairs, maintenance and cleanliness is also extremely important for sellers to take into consideration when listing their property.
“Having a home professionally cleaned to eliminate odors, especially pet and smoke odors, is very important,” Abdallah said. “Staging and decluttering your home will also help. This includes removing 30-40 percent of clutter or furniture in a room, clearing drawers, cabinets and closets, and minimizing the amount of personal decor, including family photos. Buyers want to imagine themselves in the home and usually will have an idea of their own decor or family pictures on the walls. The way you sell is different than the way you live.”
Ordering a city inspection ahead of time can also drastically increase your chances of selling your property.
“Replacing or repairing things that may come up during a city inspection ahead of time and prior to listing will be beneficial in the long run,” Abdallah said. “That way you aren’t having to replace a roof after the house is sold or something along those lines. Buyers notice fresh paint and newer fixtures and that can help with the appearance.”
In a world where technology is advancing and many people flock to the Internet to find what they want, Abdallah said photos and as much information as possible is key.
“If the listing information is poor or the description isn’t strong enough, you won’t be able to sell,” he said. “Having good photos of both the interior and exterior of the home is important so there are no surprises at showing. It’s a good idea to pick the right agent as well. Someone who is professional, experienced and local with a good track record and who knows the neighborhoods will be able to help with all of this and get your house sold.”