Three seller no-nos when listing homes

(June 8, 2012) Despite recent sales volume increases over the past year, we are still in a buyers’ mar- ket. Sellers need to make sure they really “come out of the gate run- ning” when list- ing their pro- perty for sale.

The following are three definite no-no’s for sellers when listing their house for sale.

¦ Over Pricing Your Home: Many sellers feel that their home is “unique”, and should therefore, bring a higher price than the other homes in the neighborhood. But, based on national averages, if you’ve surpassed more than seven showings for your home and not received an offer, you are probably overpriced. Be realistic in your starting list price and try to compare your home without emotion — there is really no room in this market for overpriced homes.

¦ Not Understanding Your Actively Listed Competition: First and foremost, sellers should always be careful to keep their competition in mind when deciding on a list price for their home. Of course, sellers need to know what the recent comparable sales or settled properties are — but just as important is knowing the active comparable sales. If you know which “other” houses interested buyers are going to want to see in addition to your house, you can properly price your house to beat out all of your competition.

¦ Still Looking at Your House as Your Home: Once sellers make the decision to list, they need to detach themselves emotionally and start to view the home as a “product” for sale. To have the house in its best possible shape to present to buyers, sellers need to clean, de-clutter and make repairs to have the house in good working condition and in its most presentable and marketable shape.

— Lauren Bunting is a
member of the Coastal
Association of Realtors and a
licensed REALTOR® with
Bunting Realty, Inc., in Berlin.