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Common Mistakes in Selling

In many ways, selling a home can be more stressful than buying a home. You want a good return on your investment, and the stakes are high - one mistake could end up costing you thousands of dollars. Market conditions in Mississauga and neighbourhood realities factor heavily in the final price you can expect, but there are some areas where sellers commonly make mistakes that are costly but preventable. Let's take a look at some of the most common mistake areas.

Pricing. Most of the time when we are talking about pricing mistakes in selling a home, we are addressing the chronic issue of over pricing. Over pricing is easy to understand; after all, real estate is a business transaction that calls for bargaining, and many people assume a potential buyer will negotiate. Unfortunately, putting a price on your house that is too high may mean that many of these buyers - who could well have negotiated - will pass your home by, thinking it's out of their range. It's often better to price your house a bit lower and attract a greater number of interested buyers.

While it does not happen quite as often, sometimes sellers make the mistake of pricing their houses too low, leading buyers to suspect there's something wrong with the house or the property.

Remember, with pricing, perception is everything. It's the first detail about your home that most buyers will seek, and they may make the decision not even to bother looking based on the asking price alone.

Cleaning. Sure, you know your house looks great when it's clean, and that the fence is going to be easy to replace. Keep in mind, though, that the potential buyers won't see that. A house with areas in obvious need of repair, or one that hasn't been thoroughly cleaned before a showing, sends a message to the prospective buyer that it is hard to keep up, or that it hasn't been well maintained over the years. Again, perception plays a big role, and it's important that you don't take the little things for granted. Make any necessary repairs before you start showing, and spruce up the place (vacuum, dust, do the dishes, make the beds, mow the lawn, sweep the driveway...) before potential buyers come through the door.

Showing. You might be desperate to sell your house, but don't disclose that attitude when it comes to potential buyers. Nothing will turn them off more than a hard sell tactic; a lot of the time, people will think that there must be some hidden problem with the house if the owner is being so pushy. The best tactic is to be elsewhere when realtors are scheduled to show your home. If you have to be there, stay out of the way; if questions are asked, answer them succinctly (but honestly) or defer to your agent.

These are the key areas where many people make mistakes when it comes to selling their house. Avoiding these common mistakes will mean the expeditious sale of your home at a price that will make you happy.

Support for this article provided by:
Ontario HST rebate specialists, RentalRebate.ca & the Government of Canada

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Mississauga Real Estate

Friday, July 19, 2024