Selling a home is difficult, but it’s even harder when it’s an expired listing. Expired listings, for one reason or another, didn’t sell the first time around. Because of this, it’s more important than ever to do things right the second time. Here are eight mistakes to avoid when selling your expired listing.
1. Pricing too high.
Be realistic about the value of your property. If you’ve overpriced the home, you’ll likely need to reduce the asking price when you relist. If you don’t, you’ll continue to experience a lack of interest.
2. Refusing to change anything.
Today’s buyers expect move-in ready homes. Because of this, you need to deliver. If possible, update the appliances, paint the walls neutral colors, and remove old carpeting. The newer and cleaner your home looks, the better.
3. Keeping clutter around.
Before you stage your home, take listing photos, or hold an open house, DECLUTTER. Get rid of unnecessary items, as well as oversized furniture that overwhelms your space. Put away personal photos so potential buyers can easily visualize themselves living in your home.
4. Skipping large repairs.
Major issues, such as cracks in the foundation or a new roof, should be fixed before your house is listed. You might feel tempted to hold off until the buyer specifically requests for you to cover the cost of the repair, but you’ll have more say over the job if you take care of it in advance. Another bonus? You can brag about the recent renovation in your listing.
5. Taking your own listing photos.
The first impression most buyers develop is from your online listing. Because of this, it’s extremely important to hire a professional to take high-quality images of your space. If you can’t afford a photographer, make sure your photos are well-lit, and skip your iPhone camera in favor of an actual digital camera.
6. Turning down showings.
When your home is on the market, it’s not unusual to receive a last-minute call that a buyer would like a personal tour. You need to be able to leave your property quickly, and in flawless condition. If you turn down a showing, you might be turning down someone who would make an offer on your home. Keep your space neat and organized at all times so you’re prepared for this scenario.
7. Not wanting to negotiate.
If you’ve received an offer on your home, but it’s not what you imagined, be prepared to negotiate. The only way to end up with a successful deal is compromise and to allow the buyer to feel like they benefited from the transaction. If you don’t want to bring the price down substantially, offer to cover some of the buyer’s closing costs.