Selling your home is a journey filled with moments of emotional attachment and unrealistic expectations. From clearing out cluttered spaces to applying a fresh coat of paint, agents always have an eye to help motivated sellers make a big difference; however, course correcting based on their recommendations doesn't always come easy.
Overlooking critical details or making costly mistakes during the selling process can feel like a personal affront when offers come in lower than expected. If you're considering listing your house for sale this year, approach the process with preparation and an open mind to make sure your home shines in a competitive market.
To get expert insight on the mistakes sellers make over (and over, and over again), we connected with Tom Postilio & Mickey Conlon of Compass who you might know from HGTV’s Selling New York. Together, they're responsible for nearly $3 Billion in residential sales.
"While preparing a home for sale, there are many steps sellers should take to make the property 'show-ready,'" notes Postilio. "Unfortunately, there's a lot of bad information out there about how to best appeal to potential buyers. Additionally, there's a pervasive sense of indifference we encounter when sellers are hoping to get the highest possible purchase price for what is often their most valuable asset, but don't do the homework necessary to achieve that goal."
When the housing market's hot, it's easy to want to expect a successful sale at the same selling price that your neighbor down the street earned. That said, sellers often have a hard time understanding how the value of how a seemingly comparable home differs from another, even on the same street. To that point, collaborating closely with your listing agent is very important. A real estate agent has more perspective and can make recommendations that will steer your listing towards a higher sales price.
"There are many factors to consider before coming to market, but here are three that pop up more times than they should," highlights Conlon.
1. Clear Out the Clutter Before You List Your Home
"When most people think of clutter, crammed closets and overstuffed garages come to mind," notes Conlon. "These definitely fall into that category and should be addressed to maximize the sense of space and storage in the home."
"Another pernicious culprit is visual clutter," cautions Postilio. "While one would think that a few family photos and mementos add a sense of warmth and life to a space, a line must be drawn when your personal collection becomes a distraction. Stash the Beanie Baby collection! Strike the exercise bike in the corner that time forgot. Ditch the word art because, no, it isn't always 'wine o'clock.' Clear counter surfaces, vanities, and shower shelves and floors. (Do you really need six different bottles of shampoo?)"
"Make sure the kids' rooms are tidy, too," reminds Conlon. "Remember that we're selling the fantasy of real life — one as aspirationally clean as the ones you see in magazines or on TV."
2. Take Odors Seriously
This is a touchy subject, and it's not always a minor issue. Many homeowners suffer from "nose blindness," meaning they basically tune out unpleasant smells in their living spaces over a period of time. Ask your agent's opinion, keep your emotions in check, and take their response seriously.
"[Offputting] smells include cooking odors, smoke, mold, or mildew, and the most common: pet odors," notes Postilio. "Upon discovering the presence of these silent sales assassins, many homeowners simply attempt to cover it up," he adds, making it obvious that he's been to this rodeo time and time again.
"Avoid chemically tinged aerosoles, plug-in air fresheners, and a crate of Vanilla Pudding Pumpkin Latte Jelly Bean candles burning in every room. It'll only attract attention to an underlying problem. The source of the bad odor should be identified and remediated; professionally, if necessary."
3. Remember: Pricing is Part of the Strategy
"Most don't think about the sale price as a factor in how a home is perceived by prospective buyers, but it's typically number one," notes Conlon. "Even in a market characterized by low inventory and rising prices, a baseline must be established through a careful analysis of properties that have sold recently."
"It's important to understand that buyers are becoming increasingly savvy and often have a laser-focused sense of pricing in the areas in which their search is concentrated," adds Postilio. "Overpricing is not only a waste of time, but also a waste of valuable momentum. Active buyers who feel a property is overpriced will likely take a pass on viewing it. What follows is the slippery slope of chasing the market downward, while competitive properties in the real estate market sell at higher numbers because they're not perceived as damaged goods."
The duo highlights the importance of aiming for the best possible listing price from Day 1.
Why do sellers continue to make these mistakes?
Simply put: It boils down to a lack of experience.
"Let's face it, most people don't sell their homes on a regular basis, and it all looks so easy on TV, right?," jokes Conlon. "This is where the help of a professional is invaluable, and trying to save money by not hiring an experienced agent is a false economy. Having a fresh set of trained eyes on your home will provide a roadmap of what needs to be addressed prior to listing your home for sale."
Postilio adds, "Additionally, that individual will be able to guide you on pricing (not too high, not too low) to best position your home in a competitive market. Don't go to court without a lawyer, and don't sell your house without a qualified agent."
Things to Remember if You're Selling Your Home This Year
"Prepare, prepare, prepare," they say in unison. If you're thinking of listing your home for sale in the fall, then start your planning in the spring. "The process of getting a home prepared for sale is often lengthy and labor-intensive," reminds Postilio. "Spreading the task out over a couple of seasons will make the journey much easier, not to mention your move once your home sells."
"The first question we ask prospective sellers when we meet with them is where they plan to go if their house sells on day one," shares Conlon. "You'd be surprised by how many don't know the answer!" Motivated sellers who are prepared for a quick sale do well in a hot market.
He adds, "It's also good to take the time to visit open houses of other homes for sale that are comparable to yours to get a sense of what potential homebuyers are seeing. You may even pick up a few tips along the way."
