In todays market it is very important to do things right!  As home sellers in the market today, it can be nerve racking.  I thought it may be helpful to post a list of common mistakes to avoid when selling your home.  As a Realtor I conduct a walk through with my clients producing and priortizing a list of items that need attention prior to putting their home on the market. This allows my clients to focus on what is most important!  Below is of things not to do! Many of these items are discussed further in Sid Davis’s book titled “A Survival Guide to Selling a Home”

1) Being too eager to make major remodeling decisions prior to putting the home on the market.  In real estate everything is local.  Therefore any improvements to a home should be comparable to it’s neighbors, overdoing it only costs more money and provides less of a chance of recovering it at the time of sale.   I always advise my clients to be prudent when doing major home remodeling prior selling their home.  In some cases this can help but you should rely on the advise of your Realtor to determine what if anything should be done. 

2) Putting a home on the market before it is ready.  This mistake most often happens when the seller is either anxious or has pushed the decision too close to a moving deadline.  The seller puts his home on the market and figures he or she will do the pre-sale work as the home is for sale.  So when it hits the market it has horrible carpet that needs replacement or the walls are in the process of being painted.  A homes most important showing time is within the first few weeks of the listing.  The home is fresh compared to the competition.  Presentation is everything and getting the work done prior to putting it on the market is invaluable!

3) Pricing the home based on what the owner wants to net.  The home owner may have a preconcieved idea of what they want to get for their home but a home should always be priced according to the market.  It does not do a service to anyone for the home to remain on the market for weeks and weeks before a price correction is made and the home no longer has the freshness of a new listing.  Or on the other hand the home owner may not realize their home is worth as much as it is and they sell for less than market value giving up some of their equity.

4) Hiring an agent based on personal relationships.  It is okay to hire a friend or family member but your ultimate decision should be based on their qualifications not on the personal relationship.

5) Getting emotionally involved in the sale of the home.  I know it is difficult not to, its your home!  This is one of the biggest challenges home sellers face.  Once the home is for sale it becomes a commodity and needs to be treated as such.  Buyers will be analyzing everything from the layout, location, to the decorating.

6) Covering up problems or not disclosing them.  Minnesota is a manadatory sellers disclosure state meaning that home sellers are required by law to disclose all material facts about the home.  The problems that are ignored and not disclosed become much larger after the sale is complete.

If you would like further information on this topic please feel free to email cherikuhn@watersrealtymn.com.  You can also visit our website for home listings, open houses, and market data at www.watersrealtymn.com.