Selling Tips for Lake Bonavista Sellers

Ten Biggest Lake Bonavista Selling Mistakes

From incorrect financing to lack of preparation, there are countless mistakes that a seller can make when putting their house on the market.  This page covers some of the most common mistakes made by sellers during the property selling process. 

If you're serious about selling your Lake Bonavista house, it's important that you know the facts.  It seems like a simple prospect - just put your house on the market, show it to a few buyers, and make the sale - but as many sellers find out, selling a home can be difficult, expensive, and a long prospect.  By knowing some valuable information about the real estate industry, as well as some tips and tricks about selling your property, you'll be able to more effectively tackle today's real estate market. 

Avoid making mistakes when selling your home.  Make yourself aware of the 10 most common mistakes home sellers make in Lake Bonavista.  

Mistake 1: Setting the wrong price for your home

Experience shows that the right price sells a house faster than any other factor.  When the listing price is more than 5% over market value, the price alone discourages buyers.  That's because an overpriced house scares away potential buyers who think they can't even afford to look.  Buyers who do look at an overpriced house know they can get more house for their money elsewhere. 

Mistake 2: Selling your home in "As-Is" condition

Although there are exceptions, most buyers will not even consider a house that needs fixing up.  In contrast, a sparkling showcase home gets top dollar when it comes to the bottom line.  What most buyers are looking for is an inviting home in move-in condition, one that looks as good as a model home.  Buyers who are willing to tackle the repairs after moving in will automatically subtract the cost of needed fix-ups from the price they offer.  Either way, you save nothing by putting off fixes and likely slow the sale of your house.

Mistake 3: Selling your home with a dull interior

A clean, bright decor is what buyers want.  Probably the best dollar-for-dollar investment for selling your home fast is fresh paint.  Neutral colours are best.  Next to fresh paint, new carpeting replaced for either condition or colour makes a big difference.  Elbow grease can be just as effective as spending cash to brighten your home.  Start by ruthlessly getting rid of the junk you've accumulated. Clean each room from top to bottom.  Dare to make your home look better than you've ever had it looking before.  Focus on the three rooms most inspected: The kitchen, master bedroom, and garage (if you've got one).  Forget those and you may as well forget the buyer as well.  In the kitchen, clear off counters and organize cupboards.  Keep in mind, some prospects will judge the whole house by the cleanliness of the oven or refrigerator.  In the master bedroom move or remove furniture to create spaciousness.  The ideal garage stores only cars and perhaps an orderly display of garden tools, so throw out your junk to show off room for theirs.

Mistake 4: No 'Curb Appeal'

Your house gets only one chance to make a good first impression.  That's why "curb appeal" is one of the most critical points in selling. Buyers are apt to fall in love at first sight - or not at all.  If your home lacks curb appeal, chances are the first impression will not be counteracted by the most perfect floor plan or the most tasteful interior.  Spruce up the view of the house from the street, including lawn, shrubs, shutters, windows, front door, and mailbox.  Add potted flowers out front, a wreath on the door, outdoor lighting fixtures - whatever will enhance your home's "buy me" look. 

Mistake 5: Over-improving your home

While it's important to fix whatever needs fixing to get your home ready for sale, undertaking a major project could cost more money than you would recover from the sale.  Spending too much on remodelling projects just drains money out of your pocket.  If your improvements will push your home's value more than 20% over the average neighbouring home values, don't expect to recoup the entire cost (Some major projects, however, like replacing a roof, should be done if they are needed). 

Mistake 6: Financing incentives

The more buyers you appeal to in terms of financing, the greater your chances of selling faster.  Be flexible, consider paying closing costs, providing a decorator's allowance, or other irresistible buyer incentives. 

Mistake 7: Stretching out buyer negotiations

One of the most important moves you can make is to reply immediately to an offer.  When buyers make an offer they are, right then, in the mood to buy.  Moods as you know can change, and you don't want to lose a sale because you stall in replying. 

Mistake 8: Being adversarial during negotiations

No one wins if you enter negotiations with boxing gloves on.  Instead, approach negotiations in a positive frame of mind, not as an adversary of the buyer.  After all, you both want the same thing - a sale.  Leave most of the discussion of price, terms, possession, and other conditions up to us.  We'll make it our business to get you the best deal. 

Mistake 9: Not having a presentable house

The presence of your family can make prospective buyers feel like intruders. If you're at home when your house is being shown be your usual friendly - but low key - self and keep children and pets out from under foot.  It's the agent's job to show buyers what they need to see.  Buyers can better focus on your home's advantages by viewing them, then by socializing.  If an open house is scheduled, plan to be away from the home, but let us know how to reach you quickly.  When you're not at home at other times, agents accompanying prospects will leave their business card.  Please alert us afterward so we can follow up. 

Mistake 10: Selling without a professional

Going it alone could invite disaster.  Without a professional advisor, you probably won't sell.  Even if you do sell, surveys show self-sellers often net less from the sale than sellers who use a real estate agent.  Selling a house is a team effort between you and our team.  You'll find that we do a lot more than most people know - from bringing qualified buyers, to keeping things on track, and closing.

Please tell me about the property you're looking to sell & any additional details, by using the form below or by contacting me directly. Let's get started!

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