Mistake Sellers Make
Avoiding Costly Seller Mistakes
Strategic insight to help you sell smarter.
Selling a home is both an art and a science—and even minor mistakes can have major consequences. Heartstone Realty provides the experience and perspective sellers need to make informed, confident decisions. From pricing and timing to presentation and negotiation, our expert guidance helps you avoid missteps that could diminish your home’s value or delay your sale.
Pricing with Emotion, Not Insight
Many times sellers base their pricing on how much they paid for or invested in their home. This can be an expensive mistake. If your home is not priced competitively, buyers will reject it in favor of other larger homes for the same price. At the same time, the buyers who should be looking at your house will not see it because it is priced over their heads. The result is increased market time, and even when the price is eventually lowered, the buyers are wary because “nobody wants to buy real estate that nobody else wants”. The result is low priced offers and an unwillingness to negotiate. Every seller wants to realize as much money as possible from the sale, but a listing priced too high often eventually sells for less than market value. An accurate market evaluation is the first step in determining a competitive listing price.
Tim Shelton
President
Broker
DRE: 00637546
Claudia Fuentes
Executive Vice President
Operations / Realtor®
DRE: 01157449
Showcase but stay within budget
Failing to "Showcase" the home
A property that is not clean or well maintained is a red flag for the buyer. It is an indication that there may be hidden defects that will result in increased cost of ownership. Sellers who fail to make necessary repairs, who don’t “spruce up” the house inside and out, and fail to keep it clean and neat, chase away buyers as fast as REALTORS® can bring them. Buyers are poor judges of the cost of repairs, and always build in a large margin for error when offering on such a property. Sellers are always better off doing the work themselves ahead of time.
Over-improving the home
Sellers often unwittingly spend thousands of dollars doing the wrong upgrades to their home prior to attempting to sell in the mistaken belief that they will recoup this cost. If you are upgrading your home for your personal enjoyment – fine. But if you are thinking of selling, you should be aware that only certain upgrades to real estate are cost effective. Always consult with your REALTOR® BEFORE committing to upgrading your home.
Choosing the wrong REALTOR® or choosing for the wrong reasons
Many homeowners list with the real estate agent who tells them the highest price. You need to choose an experienced agent with the best marketing plan to sell your home. In the real estate business, an agent with many successfully closed transactions usually costs the same as someone who is inexperienced. That experience could mean a higher price at the negotiating table, selling in less time, and with a minimum amount of hassles.
Using the "Hard Sell" during showings
Buying a home is an emotional decision. Buyers like to “try on” a house and see if it is comfortable for them. It is difficult for them to do if you follow them around pointing out every improvement that you made. Good REALTORS® let the buyers discover the home on their own, pointing out only features they are sure are important to them. Overselling loses many sales. If buyers think they are paying for features that are not particularly important to them personally, they will reject the home in favor of a less expensive home without the features.
Recieving Offers
Don’t Dismiss the First Offer
Many sellers assume the first offer is just the beginning of a bidding wave, but that isn’t always the case. The first buyer often represents the most motivated and serious interest you’ll receive. Ignoring an early, well-qualified offer can mean missing out on your strongest opportunity—especially when the home is new to the market and excitement is highest.
Understand the Power of Timing
A property typically attracts the most attention and highest offers within the first few weeks on the market. As time passes, buyer urgency tends to fade, and offers may come in lower. Experienced agents recognize that the earliest interest often brings the best results. Taking those initial offers seriously can save valuable time—and maximize your final sale price.
Not knowing your rights and obligations
The contract you sign to sell your property is a complex and legally binding document. An improperly written contract can allow the purchaser to void the sale, or cost you thousands of unnecessary dollars. Have an experienced REALTOR® who knows the “ins and outs” fully explain the contract you are about to sign.
Failure to effectively market the property
Good marketing opens the door that exposes real estate to the marketplace. It means distinguishing your home from hundreds of others on the market. It also means selling the benefits, as well as the features. The right REALTOR® will employ a wide variety of marketing activities, emphasizing the ones believed to work best for your home.