Top 5 Mistakes Home Sellers Make By Aram Arakelyan

Mistake 1. Overvalued home.
The selling price of a house depends on many factors, including some that are simply beyond seller's control. These include the location, the prices of nearby homes, economic conditions, and more. Of course, there are factors within the control of sellers, such as the condition of the house (inside and out), if improvements have been made in recent years, and so on. Ultimately, however, the price that a property is "worth" is determined by what the buyer will pay. It is not what a buyer must pay (in the mind of the seller). But what a buyer will pay. This is something that owner should consider, or they may overprice the home and keep away potential buyers.

Every seller obviously wants to get the most money for the home. Ironically, the best way to do this is not to list a home at a high price. High list price will cause some prospective buyers to lose interest before even seeing the property. In addition, it may lead other buyers to expect more than it has to offer. As a result, overpriced properties tend to take an unusually long time to sell, and they end up being sold at a lower price. The bottom line is that sellers who test the market loose. No matter what the seller wants, the price is determined by the black and white market reality. Real estate agents are here to help sellers understand what houses have sold in the recent past and most likely will be sold in current market conditions. Owner needs to get a market valuation from real estate agent and understand what is the fair price for the home in today's market. It is one of several areas where the assistance of a qualified real estate agent will pay for itself compared to trying to sell for sale by owner.

Mistake 2. Assuming the "curb appeal" of the home
When owner is preparing to sell a home, he needs to remember the importance of first impressions. The first impression of the buyer can make or break the sale. With this in mind, owner needs to take a realistic "fresh look" and then ask what can be done to improve the "curb appeal" of the house. Fix the the house from the street, lawn, shrubs, shutters, windows, door, mailbox. Add potted flowers on the front, a wreath on the door, brass fittings, whatever outdoor lighting home improvement "buy me" look.. That could make a big difference in the final sales price.

Mistake 3. Big mistake is not to stage the home. Owners love their stuff, and think home is comfortable, and will not change... but guess what? Potential buyers visiting the home will most likely think it's messy, dirty and unattractive. Buyers want to see a home in the "perfect model" condition and be able to imagine themselves in the home. "Staging" is simply a term to prepare the home to look better, inside and out. First impressions are important. Create a clean environment, bright and welcoming to a potential buyer can imagine living in. For example, remove all the clutter inside and out, including the garage, and completely clean and polish appliances, countertops, showers, sinks, cabinets, windows, sliding glass doors, etc. A fresh coat of paint will brighten the overall look of the house. Make the necessary repairs to leaky faucets, crumbling caulk or stained, have professionally cleaned carpets and so on. Outside, the landscape must have an eye for detail, shrubs trimmed, neatly cut lawns, etc. Owners need to give the buyers a reason to see the house as their home.

Mistake 4. "Over-improving" the home! Seller can enjoy top-of-the-line kitchen if they really want, but they can not get the money in the resale.
It's easy to get caught in a project of home improvement, especially if owner thinks that will add value to the home.

For example, if owner lives in a neighborhood where every house has a modest kitchen, he will not get money back on resale if puts in granite countertops and Viking appliances.

In other words, just keep up with the neighbors. Do not try to make the home the most expensive house on the block with significant improvements. Instead, stick to the improvements that you put the home on a par with other homes in the neighborhood. In this way, bring out the best in the home, without going overboard.

Mistake 5: Emotionally involved in the sale of the house. This is one of the challenges home sellers face when putting their house on the market. Once the house is for sale it is a commodity. Owner must be prepared to treat it as a commodity, and sell as a commodity, and priced as a commodity. Does not matter what you "want", just what the market can bear on pricing. People will come and kick the tires, so to speak, and owner can not get emotional about how they can or can not appreciate the nuances of the home.