Last week’s Existing Home Sales Report from the National Association of Realtors (NAR) shows sales have dropped by 3.7% compared to the month before. This is the second
Top 5 Mistakes I See Todays Sellers Making
Dated: April 26 2021
1) Not preparing sufficiently before listing the house on the market.
I don't walk into too many homes these days that are in pristine selling condition from the start. Before you have photos taken and definitely before you list your home for sale you should finally fix those little items you've been ignoring. Don't overlook the little things. Your eyes will take in much more than you realize when you're touring a new home. Consider everything you've been putting off or have learned to live with. Replace burnt-out lightbulbs, missing lights and dim lights with high lumen bulbs to maximize brightness. Make sure your under-cabinet lighting is all working. Clean your windows. Fix broken window locks and child guards. Remove or fix broken or uneven blinds. This one is huge; recaulk the kitchen and bathroom! It's cheap and super easy and new, shiny while caulk will go a long way in a buyer's first impression. Other important prep includes patching and painting, refinishing your floors and replacing carpet if you have it.
*Here's my recent article highlighting the top 5 things you can do to maximize your ROI when selling; https://brian.hudsonriverproperties.com/blog/319449/Upgrades+For+The+Highest+Roi+When+Selling
2) Now allowing enough showings.
I get it. You're working from home a lot these days, your kids are going crazy, life gets hectic. Still, you can't get offers without a showing. Make every effort to allow each and every showing. Most humans run on scheduled so if you know there's no way you can allow showings during certain days or times of day, have your realtor block that off in the showing notes and request application so buyers know upfront. For example, if your kids go to bed at 7:30pm and your family is visiting the weekend of the 12th, tell your realtor to block off showings after 7:30pm on a daily basis and no showings while your family is in town.
Other than that though, you really need to be flexible and allow as many showings as possible.
3) Not tracking the market and adjusting on the fly.
Sometimes a new home will come on the market right after you list that impacts the price of your home. Let's say another apartment with the exact same size and layout is listed for $20K less than yours. Go and see it right away! Does it have nicer finishes than yours? Does is show well? Does it have a view and sunlight? Is it on a higher floor in a walk-up building or have an elevator? Does it come with parking or an outdoor space? Take note of these things because the buyers that come to look at your property will definitely be checking out this apartment as well. You can either; wait for that one to sell so you don't have direct competition, or adjust your pricing to be competative with that property.
4) Not prepping for each showing.
The rule of thumb for this is - make it look just like the amazing photos you had taken for each showing. More than likely, you spent a while clearing off countertops and surfaces, cleaning your home and floors, opening all the blinds, securing your valuables and making it as beautiful as possible. Do that every time! Another goal you should have is to make it feel like a nice hotel room - warm, welcoming but not personalized. Put away your photos and little knickknacks that make it feel like "someone else's" home.
*Oh, and LEAVE your house for each showing! No one likes having the seller in the home while they are touring.
5) Not utilizing high-end photography and relying too much on video.
This seems a little counterintuitive but think about the very first impression your property will have on a buyer. More than likely, the very first thing they will see is the best photo from your property's photo shoot. Whether this is in an email from their agent or zillow or social media, the cover photo is the first thing they will see. If it's not your home's most stunning photo it may not get a further look. So make sure your realtor is not just snapping photos on their cell phone. Hire a professional photographer and spend the time prepping before the shoot to make it look as good as possible. A professional will have a stand for their camera to hold it steady, a slightly wide angle lense to capture the true size of each room, and will take HDR photos to optimize the light levels in each photo. Isn't it offputing to look at listing photos where the interior looks good but the windows are super bright and blown out and you can't even tell what's on the other side of the glass? This is a classic example of someone not using HDR photos. You should be able to see everything inside the home and outside of the windows in the same photo.
The other half of his is relying too much on video. Yes, video walkthroughs with slow-mo and music are sexy but most buyers will make a decision about your property within the first few photos. Well before they click play on the video.
Have questions or see other glaring, funny mistakes? Let me know!
brian@HudsonRiverProperties.com or 617-851-9141
I specialize in residential sales, purchases, luxury homes, rentals and investment properties. I am an 11 year resident of Hoboken, New Jersey and the Gold Coast, with the local knowledge needed to pr....