7 Common Home Selling Mistakes New Agents Face

The real estate business can have its challenges, particularly if you are new to the industry. Mistakes sellers make when selling a home should be addressed as soon as possible to be successful (and to be the best agent you can be for homebuyers). But first, you have to know what’s going wrong.

MISTAKES MADE DURING THE HOME SELLING PROCESS

1. PRICING A HOME INCORRECTLY

One of the worst mistakes sellers make when selling a home is mispricing. This is particularly problematic when working with high-end luxury homes. It is critical to take the time to perform the research necessary to make sure to get an accurate price.

An incorrect price can result in the home languishing without offers during the peak selling season and then going unsold during the slower times — even at a lower price point. Relaunching the marketing program for the property is also expensive and takes valuable time. Manage your client’s expectations well and price the home properly and you will take a giant leap to success.

2. NOT INTEGRATING SOCIAL MEDIA INTO YOUR OVERALL MARKETING STRATEGY

Real estate agents need to be where the customers spend their time. They are online A LOT and on social media quite often too. If you’re not integrating social media into your overall marketing strategy, you’re not optimizing your leads or reaching a large part of your audience.

Start with Facebook since it’s the most popular SM site. Produce warm, friendly videos with pertinent information about neighborhoods (restaurants, schools, local businesses, etc.) and post real estate infographics and other helpful information (home buying tips, home staging, home selling, etc.). Be active and make sure to respond to comments in a timely manner. This will build trust and showcase your knowledge and willingness to “be there” for potential homebuyers.

3. BAD TIMING

Timing plays a key role in the successful sale of a home. Know the seller well. Are they ready to move out quickly? Are there any disadvantages to a quick sale (like potential tax penalties)? Ensuring that you know these details, any deadlines, and other factors affecting the timing of the sale will give you the knowledge you need for consistent, positive, closing days.

4. NOT KNOWING YOUR ONLINE AUDIENCE VERY WELL

Different websites and social media platforms often have different audiences. Twitter, LinkedIn, Facebook, Instagram each have their own functionalities and purposes. Think about the neighborhoods, people, demographics — and what would appeal to each audience. The way you communicate and produce content will differ depending on that specific audience. Bringing value to potential homebuyers across sites and platforms is necessary for this online, digital age.

5. INSUFFICIENT/IMPROPER HOME STAGING

Another of the most common mistakes sellers make when selling a home is insufficient or improper home staging. The home’s rooms should each be decorated and have some amount of furniture in them — but not feel too personal as if someone else is living there. The photos of the rooms need to look dynamic and inviting online (where most people do their research); so take the time to do it right!

Don’t forget about the outside of the house either. Place a pretty planter with flowers on the deck, make sure walkways are kept clean and swept, and don’t let porches look excessively cluttered. Curb appeal is all part of the home staging process and very important as well.

6. NOT PERFORMING THE PRE-LISTING INSPECTION

Do your chores and check the list. Check it twice! If you skip the pre-listing inspection, it can often come back to haunt the whole process. Getting the property in the best shape possible prior to listing it is a part of the home selling process that should not be ignored.

7. SELLERS BEING PRESENT FOR OPEN HOUSES & SHOWINGS

This is a really big no-no! It can make potential buyers feel like intruders and be uncomfortable in the walk-through. Make sure to let the sellers know all of the negatives (and all of the positives!) of being away from home during these times. It will make for a smoother process for everyone involved.

CREATING A SMOOTH CLOSING FOR YOUR AND YOUR CLIENT

Taking into account these 7 mistakes sellers make when selling a home will help new agents overcome challenges, serve clients well, and succeed in the competitive real estate industry.

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