According to NAR, the National Association of Realtors, these are the seven most common costly mistakes that a seller does in the marketing of their home. These items could apply to us locally when selling a home in Rock Hill, Fort Mill, Tega Cay, Clover, York or Lake Wylie too.

Mistake Number 1: Placing the home on the market prematurely or before it’s ready to show. This is typical when a seller puts off maintenance on a home while living in the home and then when needing to sell hastily places the home on the market. The biggest cause of this is procrastination and failure to plan. However, it could be budgetary in light of the current economy. You would be surprised how many more buyers will see a home that has fresh paint and shows nicely. With a moving deadline, plan ahead. Don’t wait until the last minute. When you are marketing a property, the presentation of your home is crucial to making a home sale.

Mistake Number 2: Over improving for the subdivision or neighborhood in which you live. Additions, remodeling and upgrades that are much more than the rest of the neighborhood has done are going to be hard investments to recoup. You want to stick out among your competitors, but you don’t want to over indulge on these things. If there are not any two story homes in your neighborhood, going up might not be a good idea. Stick with a ranch style home. You don’t want your home to be an anomaly or eye sore instead of an attractive addition to the community.

Mistake Number 3: Pricing your home based on what you want to net instead of what the market will bear. How can this possibly work for a home seller? It will always fail. As a seller, you can ask anything that you want for your property and can control that. As far as controlling sales prices, good luck. The market dictates what sales prices are based on the comparable active and recently sold homes in your area. Let’s face it; if you want traffic in your home, you had better have your home priced right.

Mistake Number 4: Hiring an agent based on non-business factors. Everyone knows a real estate agent right? You should always make sure that you are hiring a real estate professional with a record of results. You might think it a good idea to hand over the marketing of your home to a niece who is recently licensed, but that might not be a prudent idea. Experience in handling the details and negotiating your best deal should be your highest priority in making your Realtor® hiring decision. If you are going to hire an agent who is untested, make sure that they have a mentor or that they work on a team with some other more experienced agents. This has never been truer than in today’s market with all of the special property problems, like foreclosures, bank owned homes and short sales that are facing many people trying to sell their homes. If you have to sell, get a specialist to help you with your problem. Can you afford to have an inexperienced agent help you with your situation?

Mistake Number 5: Becoming overly emotional in the sale of the home. This can be tough for a home seller. You have memories in this home, but you have to look at the home as an asset and commodity once you decide to sell the home. You will want to get the most for your investment as possible. So keep the beautiful memories in your head and plow forward with the work that needs to get done in order to maximize your return on your investment. The buyers who are walking through your home don’t put the same values on your memories as you do and they are not going to “pay” for them. They are only interested in finding the best priced home on the market that fits their needs.

Mistake Number 6: Trying to cover up or failure to disclose problems. Both South Carolina and North Carolina have property disclosure forms that sellers use to acknowledge the condition of the property to potential buyers. You should always fill it out honestly and provide as much detail about the property as possible. This will greatly reduce any potential problems that may occur later from a property problem that the buyer may have. As mentioned earlier before, you are better off making repairs prior to marketing your property, but if you don’t fix it, remember to disclose it.

Mistake Number 7: Not being prepared prior to selling. Make sure that you plan things out. Make sure that you know what the values and comparables are prior to selling, so that you get your home priced right. Know whether you are in a buyer’s market or a seller’s market. This will determine whether you need to find your next home first or sell your home first. Make sure that there are no prepayment charges on your mortgage that you will incur if you sell. Make sure that you are prepared to sell and move physically and emotionally. If you don’t prepare, it can be expensive as last minute changes in home selling decisions can cost you big time if you get into a contract and try to withdraw without a valid reason.

If you plan your work according to this formula, work your plan and hire a good agent to represent your interests, you should get through the home selling process without too many difficulties. I hope for your successful sale of your home.

Ross Harkness
Palmetto Property Pros Team
Wilkinson and Associates Real Estate