Market Your Home Effectively in Today’s Market. If you are selling your home, Don’t fall into the trap that many homeowners fall into, such as overvaluing their home. It’s an understandable mistake, that could prove very costly if it slows down the sale and or makes other homes look like a good value in comparision.
Here are the top 6 mistakes sellers make in selling their homes, three of these are directly related to the price of the house. Mistakenly, some sellers base the current market value of their home on:
1. Original Price (how much they paid for the house);
2. Cost of added improvements to the dwelling;
3. Cost of replacing the home as if it were new a new house;
In actuality, the market value is not inherently tied to any of these. Rather, using the theory of substitution, buyers will purchase the best valued property offering similar functionality, aesthetics and location. It’s important to look at comparable properties that are: actively on the market; recently under contract; and sold/closed properties.
The next single largest category which generates the next two mistakes made by sellers is condition:
4. Neglect to perform minor repairs and touch-ups which would greatly improve the appeal of a home in the mind of a buyer;
5. Dark, Dirty, Cluttered Homes
A clean, bright decor is what buyers want. Probably the best dollar-for-dollar investment you can make when selling your home is fresh paint. Neutral colors are best. Next to paint comes new carpeting or flooring. Together these make a huge difference when selling.
Get rid of the clutter! Make sure countertops, cabinets, closets, office spaces, bedrooms are all decluttered. Make the home look clean simple bright and inviting. Make your home look better than it ever has before.
Focus on the three rooms that are most inspected, the kitchen, master bedroom/bath and garage. Forget these and you might as well forget the buyer too. Make sure your oven and refrigerator are clean! In the master move the furniture to create spaciousness. Scrub the master bath till it sparkles. The ideal garage stores only cars and perhaps an orderly display of tools so throw out your junk to show off room for theirs.
6. Sellers can be influenced by bad advice:
Sellers mistakenly rely on the counsel of friends, family and/or neighbors in the marketing and pre-marketing of their homes.
In this type of market, sellers do not have the time to listen to well-intended advice that’s off base. Learn the facts of residential marketing from an expert.