I am often asked about the biggest home seller mistakes by prospective sellers. They will notice that one house in their neighborhood gets a ton of traffic and sells very quickly, while another seems to endlessly have a For Sale sign on their front lawn. There can be any number of reasons that contribute to a home not selling quickly or at a higher price, but a recent survey of 1,000 real estate agents conducted by Active Rain -an online real estate network of professionals summarized it in a graphic that kind of says it all.
The overwhelming majority agree that over pricing the property is the number one cause of it not getting the right buyers to preview it and make offers. While the current market has a really low amount of inventory making it more of a seller’s market, buyers are savvier than ever and still want good value. They are willing to pay for value, but the perception of it is critical.
You know how some couples describe their romance as “love at first sight?” Well nine times out of ten it is the same with home buyers. Most buyers are strongly influenced about their perception from the minute they drive up to the home. If upon entering the front door they are overwhelmed with pet odor – kiss the prospective buyers good bye.
Home buyers are greatly influenced by their senses. The house has to look as good as it smells, feels and sounds. That’s why homes on busier streets tend to take longer to sell. After all of the analysis is done, in the end a buyer has to get a “good feeling” about the house in order to be motivated to buy it.