Every year agents run into issues with home sellers that might think they know better than an agent.   Who can really blame the home seller though?  According to the NAR, the average agents sells 6 homes a year!   So if that's true then chances are really good that the agent you hire is just doing this as a part time hobby!   It should come as no surprise then that the number one most costly mistake home sellers make is... 

1. Not Interviewing The Real Estate Agent

It’s a shame, but most home sellers spend far more time worrying about commissions and what their neighbors think rather than doing the the one thing that really could net them more money.  In fact, research shows that 80% of home sellers pick the first agent that they talk to!  A good real estate agent can make a big difference in profit for the home seller as well as convenience. It’s been said that a good agent can actually bring you 3 to 6 percent more. The reason is that they often understand what’s happening in the market and can price your home correctly as well as defend you while negotiating. You might be skeptical of this (and for good reason since there’s a ton of bad agents out there) but it’s likely because you’ve never interviewed a good real estate agent.

2.  Being Present During The Showings

Who can show your home better than you? The answer to this argument is pretty much anyone.

When a home buyer comes into your home they need to be free from distraction, this means you if you're the home seller.  It's not just vacation homes in Davenport, FL that are typically vacant most of the year, even the home buyers looking at homes for sale in Huntington Beach CA expect the home to be free from one thing... the sellers. The home buying process is an emotional one, if you, the seller are home, the home buyers are going to be thinking about you and your life, and not picturing their life there. You won't be likely able to figure out the loss in actual dollar amounts.   What actually happens is your available home buyer "pool" is reduced thus reducing your chances for multiple or higher offers.

3.  Not Insisting On Professional Photography

If you’ve ever browsed a real estate website then you’ve likely noticed how bad some of the photos are. There’s even websites dedicated to how poor real estate photos are. Who’s to blame here, the agent who took the photo with their cell phone or the home seller who allowed it? They (NAR) say that the number one thing a homebuyer wants while shopping on the internet is photos. So give them what they want with clear, crisp, professional photos. Failing to do this will likely result in either fewer showings or a buyer having a poor first impression of your home, you and/or your agent.

4.  Over Pricing The Home

The age old adage in real estate is there is only 1 reason a home doesn’t sell. It’s overpriced. Too often a home seller says, “my home is different.” Mind you this is often coming from someone in a neighborhood of 400 homes where there were only 8 floorplans to choose from. Most home buyers aren’t searching for upgraded doors, trim and paint. If your home was different enough to escaped neighborhood norms then you’re likely going to have appraisal issues even if you do manage to find a buyer. The research is clear here, if you price it right, you get more buyers and often more offers thus driving the price up, vs pricing it at the top of the market and only attracting a few. This is why trusting an an expert real estate agent is key.

5.  Not Getting Financing Together For The Next Home

One surprising thing that happens in this hot market, is that home sellers are finding themselves stranded in some cases.  They put their home up on the market and didn't realize how fast it would go under contract.  With the marke "on fire" homes go fast.  By the time they get started to want to look at homes they finally realize that no one wants their offer (or in some cases, no one want to help them see homes) because they aren't qualified.  I'm not talking about "financial ability" I'm talking about a letter from a lender that says, "this buyer has been verified and is well able to buy the home."   This fact is true whether you're looking to buy on Marco Island FL or San Anotonio, TX.  

This is just 5 of the Most Costly Mistakes Home Sellers Make, but there are a ton of them.  On the surface, most of these mistakes can't be easily quantified but if they remove even one opportunity to make the sell then they are dangerous.  The last one, can be costly becuase being stranded usually means a short term rental somewhere (read: expensive).