6 Mistakes Made When Selling Homes
Overpricing w/ the expectation of reducing price
“Don’t worry John, we’ll just start at [market price + 15%] and then we’ll reduce the price if no one makes an offer” is an easy way for sellers to sign themselves up for a frustrating selling experience. Pricing homes over market value will definitely help you reduce price, often on the buyer’s terms. Pricing your home at or very close to market value will cause buyers to respect your price, and even potentially compete for your listing, most of the time landing a contract well before buyers in the market start to leverage your ‘time on market’ against you.
Leaving presentation to the untrained eye
If it was up to me, I’d caddy-corner every item in a house and I’d put way too many patterns and textures in all the wrong places (says the ladies of Bonalife Homes lol). Fortunately, we hire the best in the city, people who study which homes sell and which homes don’t, to make your house look like you did on your wedding day - absolutely your best 😉
Neglecting condition for convenience
It’s always easier to have someone come buy your car right out of your driveway as is, but if you wanted to get top dollar for it, wouldn’t you take it to the car wash, maybe vacuum it, perhaps even put on some shine and take down the crusty fluffy dice hanging from the rear view mirror?
Looking to cut corners on photography
I have an iPhone X. It’s like the best and newest I’ve heard. Takes amazing pictures. I take it all over North America with me. I DO NOT take photos of six figure products I am selling for a living. We hire professionals. For more money than I want to pay for the service. 37 of our last 40 homes have sold. I think it matters. Over 80% of buyers find the home they want to purchase online via photos before they ever see it in person.
Failing to engage the larger state & national online audience
Many buyers for our listings are coming from other markets around the country. Showing up top of page on sites like Zillow, getting directly into the social media walls and messengers of ready buyers in other US markets, and ensuring our listing data helps leverage web algorithms so we show up GREAT and EVERYWHERE is KEY.
Recently published Chamber data shows a slight majority of domestic migration into Austin from 2012 to 2016 came from other areas of Texas, led by the Houston, Dallas and San Antonio metros. California, Florida and New York were the top states of origin for people moving to Austin from outside of the Lone Star State.
Failing to handle interested parties appropriately
How do you handle someone calling about the listing? What questions do you ask? Which do you answer? How do you follow up? What items do you share? What info do you share? How much or little do you encourage? Once you’ve got a fish on the line, understanding how to reel them in is half the mark of a great fisherman.
Unable to cross sell other listing agent listings
One of the big advantages we have in selling homes in Manor over other agents is that because we list several homes in the area at a time, we are able to introduce buyers to other listings we are marketing if the listing they were originally interested in isn’t a fit. This is an easy way to find buyers for our sellers who may not have been even looking at their home in the first place.
Skip the home valuations from inaccurate automated engines and inexperienced listing agents and let Bonalife Homes help you explore your home's value in today's Summer 2019 market by clicking here.
Until our next post!...
Meet John & Lindsay Bonacci With over 10 years in real estate, this duo specializes in getting the job done! With Lindsay (Platinum Top 500 agent) leading the buyer team to ensure Bonalife Homes is delivering outstanding service to buyer clients, and John (former Real Estate Business Coach) specializing in marketing homes to their highest level, you are in great hands.