Top 5 Mistakes A Home Seller Makes That Cost Them Money in Tallahassee

The market is a strong home seller’s market in Tallahassee and has been for the last seven years!  What does it mean to be in a sellers’ market?  It means that there are more buyers who are able and want to buy than there are homes to sell them. We think a balanced inventory (neither side having more leverage) happens when we have six months of inventory, and in the summer of 2021, we have seen less than two months of inventory!  However, if your Tallahassee homes expired on the market, buyers are telling you something. Check out these most common things home sellers do that cost themselves money.

1.   Pricing too high

If you are on the market longer than average (your agent can show you average days on market for your neighborhood), then buyers are telling you that you are asking too much. In fact, if you haven’t received any offers, buyers are probably telling you that you are more than 10% higher than market value.  Review the comps with your agent and do an honest assessment of your house’s strength and weaknesses. Either address those issues or lower your price.

2.   Not staging

Buyers come through your home with your list price in mind and start subtracting for things that turn them off.  The biggest turnoff is dirt.  Dirty homes sell, but they do not sell for top dollar no matter how nice that grimy tile is when it is clean.  Consider a showing a first date. Clean up. Smell nice. Hide all the dirty laundry and be on the best behavior (take the dog with you!).

3.   Making it hard to tour

Nothing makes me cringe more as a listing agent than when a home seller asks me to reschedule a showing…for the tenth time.  Sometimes life happens and it cannot be avoided.  However, adding restrictions to times available and/or required notice can keep some buyers from touring your home. Remember that coordination of showings requires three people’s schedules to mesh – the sellers, the buyers, and the buyers’ agent. Being flexible helps expose your home to more qualified buyers.

4.   Not cooperating with agents

This one is more for those homeowners who are selling on their own without local representation. As agents, we have sold many homes that were ‘listed’ without an agent. We even understand wanting to go it alone, we are do-it-yourselves people too. However, unless you are selling to the neighbor, or a friend/acquaintance, there’s a 97% chance you will sell with an agent.  Be nice to them when they bring you a potential buyer and have that commission conversation before the showing.

5.   Not disclosing important information

Just because you are selling your home ‘as-is’ does not mean you are released from disclosing material facts.  There have been several cases litigated over this issue.  If you are in doubt, you can consult an attorney.  As the listing agent, we are going to tell you to disclose.  Better to turn away buyers than to end up defending yourself in court.  Even if you win the case, you lose the time, worry, and aggravation of going to court.