April 27, 2010

Are you Making the Biggest Home Selling Mistake with Your Property?

As a Calgary Home Stager, it’d be easy to talk about all the ways in which home sellers can improve the presentation and styling of their property. Face it . . . most of us just don’t live in that Show Home perfect world that buyers respond to best.

Although there are lots of missed opportunities where sellers could more readily connect with a buyer, this isn’t the biggest mistake that a home seller can make.

The biggest mistake is overpricing the home.

As I’ve said before, pricing a home is part art and part science. There are some very tangible ways to calculate those dollars and cents, and other less tangible factors that need to be taken into account.

However, for the vast majority of homes in Calgary, there is definitely a ceiling on each property. And once a seller prices above that ceiling, it is the quickest way to decrease the number of showings and put the few buyers who view the home on the offensive.

Many home sellers reason that the negotiations can begin when they receive an offer. However, that high price tag leads buyers to believe the seller will be unreasonable in the negotiating process, since they are unrealistic in the asking price.

Pricing a home over fair market value doesn’t guarantee a higher selling price. In fact, it often results in a lower one!

The cycle goes like this:

The home is priced too high —->

—-> Buyers are turned off and don’t view the property —->

—->The buyers who do come look for all the reasons why the property isn’t worth that top dollar (they get nit-picky fast!) —->

—->No . . . or only low . . . offers come in —->

—-> Time goes by —->

—-> The longer a property sits on the market, the more desperate the seller is perceived to be —->

—-> Leading to even lower offers.

Don’t be the seller that makes this mistake! Your best chance of selling quickly is to do your homework. Prepare, price properly, and then get the presentation polished!

Need help? We can refer one of the many great Agents that we work with. GreenApple also provides Pre-Market Consultations, giving you the advice you need so you can hit the market as the newest “hot property”.

You only get one chance to make a great first impression.

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Filed under: Home Selling — Tags: , , , — admin @ 3:14 pm

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