The Top 5 Mistakes New York City Home Sellers Should Avoid

The Top 5 Mistakes New York City Home Sellers Should Avoid

 

Selling a home in today’s market requires a certain level of sophistication. Preparing your home for market can seem daunting with all of the staging options and home preparation that needs to take place. In light of these challenges, we have prepared a list of The Top 5 Mistakes New York City Home Sellers Should Avoid when selling a home.

The Top 5 Mistakes New York City Home Sellers Should Avoid

1. Smelly, Dirty or Cluttered Homes. You would think this doesn’t happen in the New York City real estate market but I can assure, it does. We see poorly prepared homes everyday. The good news is that you can avoid this mistake by bringing in cleaning professional prior to photography and open houses/private viewings, pre-packing or de-cluttering to remove any non-essential items from the home and make sure that your home smells like home and not your last kim chi and bulgogi dinner.  Your real estate agent should be a great resource in connecting you with the cleaning professionals, storage facilities with the best rates and aromas necessary to make buyers pay top dollar for your home.

2. Overpricing. Ultimately, it’s up to you, the seller, to decide how to price your home.  But you would be doing yourself a disservice if you don’t carefully heed the professional counsel of your real estate agent when considering the pricing of your property for market. Your agent should provide you with a CMA or comparative market analysis which should include properties that have sold in your area or building with similar features, and use that data to help you understand the right price range for your home.  Over-priced listings rarely get viewed or receive offers and will sit on the market while reasonably priced properties tend to sell quickly. Ultimately, the goal is to price your property reasonably, drive as many offers as possible and leverage those offers. Your agent should be able to navigate this process and advise you properly to avoid any issues that may arise.

3. The Truth. The Whole Truth and Nothing But The Truth. Here’s the deal: you will never trick someone into buying your home. If your property has deficiencies, it’s your sellers agents job to minimize their effect. Don’t try to deceive buyers with over-edited photos or deceptive descriptions, buyers will inevitably figure this out. Any misrepresentation can turn off an otherwise interested buyer.

4. Bad home improvements. We’ve all seen that newly renovated property that no buyer would be interested in. The truth is, most sellers don’t have their finger on the pulse of what modern buyers are looking for in a renovated unit. Consult with your sellers agent before you make any investment in a pre-sale remodel. They can often give you a sense of the return on your investment, and help you prioritize which projects to do or not do. Instead of spending $50,000 on a new kitchen, they might advise you to update appliances, or counter tops and spend a few grand on re-grouting the bathroom tile or sanding those hardwood floors. Our team goes so far as to help our sellers with the choice of materials, contractors and often over-sees the project for our clients (to help our home sellers avoid the headaches of renovation).

5. Bad or No Photos At All. As an agent in one of the most competitive markets in the world, I can tell you that nothing bothers me more than seeing a million dollar property with cell phone pictures or no pictures at all. Listing photos that present your home in anything but its best light are sure to turn off homebuyers.

The only thing worse than bad listing photos is no photos at all; most buyers will skip over listings like this.

Before you list with a real estate agent, ask them to show you their current and past listings and review the pictures they used. If they are not up to the standard of your market, you can lose a significant amount of traffic to your property and ultimately a significant amount of money at closing.

Thanks for reading The Top 5 Mistakes New York City Home Sellers Should Avoid. To learn more please explore our blog or reach out to the Cunard Team Today.

 

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