Three Common Mistakes Sellers make when listing a Property
By JESS BARRON, Special to Winters Media & Publishing
As the real estate market begins to shift and cool down, it is more important than ever to have the correct approach when selling your property. An imperative part of our job as Realtors is consulting with clients and preparing them to list their home. Market value analysis, condition of the home and attention to detail all matter.
There are several common mistakes that I see property owners make. I will cover some of those below.
Perhaps the most essential part of putting a property on the market is value analysis. There needs to be data behind the list price. Recent sales of similar properties in the vicinity of the subject property should be considered. Even in a great market, you cannot just throw a price out there. You need comparable sales to support the value. Many homeowners take pride in their home which is a great thing. However, when it comes to pricing, you need an objective approach. Many buyers will not see the same value in an aspect of the home that you will.
For example, a pool that you spent a significant amount of money on, may be viewed as an expense or liability to a prospective buyer, especially one with children or pets. Another example is a very custom renovation. You may love the purple color of the walls, but most buyers would like something more neutral like a grey or white. Price is the most important part of listing a property. Many sellers forget this. You do not want your listing to sit with no activity. A pre-listing appraisal is a great idea.
Just like selling a car, a home needs to be in tip top shape when listed on the market. All aspects of the home need to be in good working order as well as clean. I advise my clients to have a pre-listing home inspection to ensure this. It is better to be proactive with real estate than reactive. Handle issues upfront and do not wait for the buyer to find them while under contract. If you cannot handle these issues, then the price needs to reflect the expense to handle these items.
A first impression in real estate is everything. Once the property hits the market and the internet, presentation is everything. Professional photography, including drone photography when appropriate, is a must. A detail-oriented approach is vital. Detailed remarks that showcase the property’s strengths and potential is essential. You want to grab potential buyers’ attention while making them comfortable with the home.
A Realtor can handle and should handle all of this for you. They should be your guide through the home selling process. Take your time with listing preparation and pay attention to details, it will pay off for you!
Jess Barron is an Associate Broker with Lindseys, Inc. Realtors and former President of the Newnan-Coweta Board of Realtors.