Thinking of selling your home? Here are 6 things you should not do....
- Use cheap and/or inferior finishes. Recently I was at a friend's house. She said, "you have to see the new tile I put up in my bathroom!" OMG. It was peel and stick paper that looked like tile. It was hideous! Our advice? Don't cheap out on "faux" anything! If you can't do it right, don't do it at all.
- Think you can get away with not replacing older systems such as air conditioning, new roof, water heater, original wiring such as aluminum or knob and tube. When my husband and I bought our home in Western Mass. 3 years ago, of course we had a home inspection. Our home inspector had a drone so he was able to get up close and personal with the roof. Thank goodness! It had only a few years left, and had been installed incorrectly, so we were able to get an additional $15,000 off the price of the home. Expect to account for deficiencies. No one expects to sink a huge chunk of money into a home they just bought unless it's a fixer upper.
- You absolutely should not over price your home! According to Coldwell Banker Upton-Massamont Realtor, Val Rutkowski, "I think a problem/mistake that sellers make is selling before they are emotionally ready. When a seller hasn’t fully come to terms with letting their home go, they make the mistake of wanting to overprice it by giving sentimental memories additional value. Buyers of course don’t share that same viewpoint. By not being emotionally ready to sell, a seller may have a hard time hearing feedback from buyers/agents or the flaws that were discovered during the home inspection. All of which can make negotiations difficult or next to impossible. To be better prepared a seller should always begin detaching from the home prior to putting it on the market. Not only will the seller be better prepared for the selling process but hopefully excited for the future!"
- Think you don't need the advice of a professional. Gretchen O'Neil, REALTOR with Coldwell Banker Upton-Massamont REALTORS "worked with sellers on a listing where approximately 50 people viewed the property between showings and open houses over about nine months. Most had similar negative feedback regarding the heating system and the fact that the house was 30 years old and had never been updated. All of this feedback was reported to the sellers. Without consulting me, the sellers decided to spend $9,000 on a new exterior paint job when it was not needed, and not a single buyer complained about the paint. That $9,000 would have been much better spent getting rid of the old wood furnace and replacing it with a new propane heating system, or updating the dated 2 1/2 baths, or the countertops and flooring in the dated kitchen and purchasing matching appliances."
- Sell your home “as is”. Rick Davitt, REALTOR with Coldwell Banker Upton-Massamont REALTORS advises his clients to paint that outdated orange kitchen and replace the sculptured rugs with more neutral colors and guess what? You'll recover more than those costs. Another helpful tip is to de-clutter the rooms and basements. You want buyers to visualize all the space available.
- Be unwilling to negotiate price. Listen, the buyer can find another home. You only have your home to sell. Be willing to negotiate. When I sold my last home I turned down the first offer. I wouldn't even negotiate. Do you know what happened? I didn't get another offer for almost a year! And of course it was the same offer as the first one. Ugh.
REALTORS want you to get the most money possible for your home. Following their advice can do just that! If you're thinking of selling your home and/or buying a new one, give us a call. 413-461-3518
Pamela Sclafani is the Marketing Manager for Coldwell Banker Upton Massamont. She lives in the Pioneer Valley and enjoys everything it has to offer, gorgeous scenery, hills and mountains for hiking, lakes for paddle boarding, the change of seasons, and the close proximity to Boston and New York.
inman article: "7 Mistakes Your Sellers Should Avoid at All Costs," written by Cara Ameer