17 Mistakes Sellers Make when putting their home on the market and how YOU can avoid them.
- Pricing the property too high- Have a REALTOR determine comparable sales based on the most current market data to avoid overpricing. On average, properties sell for the highest price within the first 3-4 weeks and slowly become “stale” after that point, resulting in lower offers.
- Pricing the property too low- Pricing high may be the biggest downfall when selling a home but no one wants to know that they may have left money on the table after a sale.
- Not considering all financing terms- Many people still feel that a “cash deal” is the best deal and will even sacrifice a potentially higher offer with a financing condition to accept one. When an offer comes in, be sure to have the knowledge of a Realtor to help you make an educated decision.
- Poor market timing- With a good selling strategy any market can be a good market to sell but always have a professional determine if the market cycle is poised to net you the most money. A good Realtor knows market trends and knowing the current and historical market trends is very valuable.
- Believing that selling a property is seasonal- Although certain times of the year are definitely stronger you shouldn’t only base your selling decision on this – property is always selling. As our population diversifies many of our national holidays are starting to be used to house hunt and with less competition your home will stand out even more..
- Not having your property staged correctly– Putting items in storage, having consistent and bright lighting throughout the home, decorating, as well as selecting and playing appropriate music for showings are just a few of the many important staging strategies your professional Realtor will guide you through – a first impression of your home is a lasting one and we usually only have one chance to wow a potential Buyer.
- Picking the right Realtor for YOU– We have included a detailed question list of probing questions you’ll find in this information pack provided to help you choose the right agent – we strongly suggest reviewing these questions with our answers already there for you and if you are interviewing multiple agents be sure to ask them the same questions and see if you are satisfied with their response. If you have any more specific questions for us we would love to answer them to the best of our knowledge.
- Not providing easy access for showings– When you list with us you are going to get a lot of showings. Instead of arranging for keys or leaving the door open we always recommend allowing us to install a Realtor-only lockbox on your property.. Also, keeping the house clean the entire time it is listed so you’re ready for short notice showings is always good practice and could be the difference between selling your property or not.
- Ensuring a profit from your sale- Have a real estate professional give you low cost upgrade & repair solutions to minor problems that will yield large profits – don’t let another Buyer make profits off of your missed opportunities!
- Not utilizing current market technology- Make sure your agent is up to date with the technological tools that are available today. We know nothing can fully replace the hard work a Realtor does in person but there are many newer systems, including paperless signature services that allow you to sign documents quickly, easily, and without the need of a printer or scanner – a definite perk when time is of the essence and you’re not at home. Since almost all transactions also start online it’s our opinion that your agent be very knowledgeable in this area!
- Not re-evaluating the market plan every 10-20 days- The market is always changing and if you aren’t keeping up on it the selling process could be a lot longer and more difficult than you may have expected. You and your Realtor need to make ongoing changes based on buyer feedback and the market’s expectations.
- Believing a Realtor is not doing their job when you aren’t receiving offers– We do our best to make sure the public sees your property using bold directional & yard signs, the MLS, brokerage website, online marketing campaigns, social media, print advertisements, search engine optimization, and your agent’s personal network. There are 3 things that determine value – Location, Condition, and Price. If you have a lack of showings or offers, and aren’t willing to do necessary/recommended upgrades suggested by your Realtor you’ll need to revisit the asking price.
- Ignoring what a buyer’s first impression will be– Sales have been blown up by unkempt lawns, cluttered closets, unpainted front doors, hard to work locks, general damage, blown light bulbs, obnoxious paint colours, stains, unlit areas, and bad smells. Spend time on the little things – double up on your gardening, keep things cleaner than usual, and make sure the pets, and their hair, are under control.
- Not giving the sales effort enough time– You should never give too little time to what is inherently a long process. A good Realtor will estimate the time you have to sell by analyzing the average days on market a property is listed until it sells. You should take this figure add some time so that you are not put into a situation of having to act out of desperation out of false expectations.
- Dealing with the unqualified or unsavoury character– One of the best reasons for hiring a real estate professional is their ability to pre-qualify potential buyers, and not only financially, before valuable negotiation time is lost. Your Realtor can often determine when a potential buyer’s motivation may be something other than purchasing your home and will advise you on the situation.
- Believing that you are powerless to make a difference– The top agents in the industry still report sellers are responsible for one out of ten sales. You can help your own home sell faster by following our suggestions mentioned above as well as networking your business, family, private social media networks, and personal friends – the more, the merrier!
- Testing the market– Never put your property on the market unless you really want to sell. If you are having indecision regarding listing your property you may experience frustration because success is a great Realtor’s objective. Still ready to list? Get ready for a professional push with a marketing strategy that is going to keep you and your competition on their toes as we get you the results you’d expect from a great Realtor.
Hey there, I’m Matthew Taylor. I work with individuals and families looking to buy or sell real estate in Regina and all surrounding areas who are looking for professional, responsive, and honest service to find the property that is best for them and sell their home in the quickest amount of time for the most amount of money. I want my clients to be the most informed, educated, and knowledgeable when purchasing or selling a home. I’ve been a Realtor® for a few years and I’ve served over 10 families to date. The best praise I’ve ever received from a client was:
“As first time home buyers we were nervous, we didn’t know anything about the real-estate market. Mathew Taylor was an amazing realtor to work with , he answered all our questions and made sure we were taken care of. He truly had our best interest in mind in helping us find the perfect home for our little family . We have nothing but good things to say about Matthew and just keep up the good work”.
Helping people to find the perfect home for them like that, makes me so proud and drives everything I do. If you’re looking for a Realtor who truly has your best interests at heart, Then we might be a good fit. I’ve earned two degrees, one in music performance and another in music education. When I’m not helping people find their perfect home, I can be found playing music, teaching music to kids, spending time with my family and friends, or volunteering at the YWCA. Want to learn more about how we can work together? Call or text me at 306-988-7554.