Three of the top six mistakes occur in the pricing of homes offered for sale. Sellers tend to base current market value on the following:
1. original price paid
2. added improvements
3. cost of replacement
Instead of on a current analysis prepared by an experienced real estate broker and find that buyers don’t make offers and the homes don’t sell.
Condition becomes the next key factor, generating two of the remaining three mistakes. Sellers commit these two errors:
1. They neglect to perform minor repairs and touch-ups that greatly improve a home’s value to buyers.
2. They don’t replace worn or dated carpet or patterned wallpaper or paint over bright walls, which would increase appeal to buyers.
Their homes sit on the market for months, turning into “stale” listings that get passed up. One of the first questions all buyers ask is “How long has this house been on the market?” If the house has been on the market for “too long” (you fill in the blank!), then buyers think “there must be something wrong” and “if no one else wanted it, why should we?” Few buyers have the confidence to say “I see what others do not, I’ll take it.”
And lastly, many sellers are filled with misconceptions about what it takes to sell their homes. Why?
1. They rely on the advice of friends and family when getting ready to sell their homes, the sixth top mistake.
Often, this well-meaning advice is completely wrong. Yet sellers understandably place trust in those they they trust on other matters, rather than seeking out an expert.
Learn the facts that will make selling your home a smooth and pleasant experience instead of a frustrating and difficult one.
Call Kaye Lewis at 203-249-9603 when you’re ready to discuss how to avoid these costly mistakes.