Even when there’s a lull in the real estate market, I’ve found that certain people manage to get reasonably good prices for their homes. So why do some homes get good offers? I’ve heard real estate dealers claim that this doesn’t really have much to do with the actual home in question. So what works the magic? Great marketing efforts!
Here are some common mistakes I find sellers making repeatedly. Stay cautious and steer clear of these boo-boos.
It’s been rightly said that a picture speaks a thousand words. If you upload a picture, it’s the first thing a prospective buyer is going to see. So make sure the photograph is well shot. It should make the buyer want to see more of the home.
Here are guidelines about how pictures should ideally be.
- They should be correctly oriented and appear bright and cheerful
- Don’t display cluttered rooms and pets sleeping on sofas
- Crop pictures to remove unnecessary elements
- Submit multiple photos showcasing the better aspects of the home
- Optimize pictures for the Internet because high resolution photos take longer to download
Not Sharing Important Information
When it’s a buyer’s market, you cannot expect prospective home buyers to get in touch with you if you simply toss out your property’s address and mention the number of bathrooms and bedrooms. This doesn’t give a buyer a reason to see your home. You need to tell him why your home is better than the others available.
You could include points like what makes your home unique and why you were motivated to buy the home.
Not Giving Importance to Agent Previews
Like everyone else, agents are busy too and cannot spare time for looking at each home up for sale. So you need to entice them into seeing your home. Agents are always more positive about a house they have visited themselves.
Not Allowing Free Access for Showings
Even though it’s slightly inconvenient having people looking over your home multiple times, you need to accept it as part of the selling process. If an agent finds he can’t conveniently show your home, he’ll go ahead and show another property. Make sure you do not give him a reason to bypass your home.
Factors such as not having a lockbox on your property or restrictions on showing hours can prove detrimental.
Offering Lower Commissions
It’s not as if agents are greedy beings who handle high-fee listings only. They often regard listings with lower commissions as cases where the seller isn’t too keen to sell. So if a seller isn’t motivated, he might not negotiate on price. When buyers expect negotiations, agents will only show listings where this is possible.
Not Including Incentives for Buyers
Properly planned incentives need not pinch the seller if he structures the price taking the discount into account. Typical incentives include credit towards buyer closing costs, a Home Protection Plan, or Homeowner Association fees pre-paid for a year.
Not Using Print Advertisement
By spending some amount on print advertising, you let a larger audience know your property is up for sale. You could advertise in the Sunday Classifieds of a daily newspaper or the Picture Classifieds on weekdays.
Not Allowing Virtual Tours
In today’s connected world, it’s great for buyers to have a first look at a property from the comfort of their homes. A virtual tour should ideally include at least two spins around the house, quality printable photos and downloadable photos for emailing to family and friends.