Selling Your Home 101

It’s not uncommon for home sellers to make mistakes throughout the selling process, but some make HUGE mistakes from the start when they’re a “new listing.” Sometimes these mistakes are made against the advisement of their listing agent and other times they are unaware they’re even making mistakes. Below are just a few of the common mistakes home sellers make as a “new listing,” which if you plan on selling your home you’ll want to avoid at all costs.

“Coming Soon” Photos
No photos, bad photos or changing photos days after your home has been entered into the MLS is a HUGE mistake! You only have one opportunity to grab a buyers attention and make them want to view your home, so if you have no photos or bad photos odds are they’ll scroll right by your listing. Replacing bad photos with professional photos days or weeks later may help going forward, but the buyers and Realtors who already ruled your home out within the first 24-48 hours of listing it probably won’t even notice. Plus, some websites aren’t updated regularly, so those original photos may stick around for a while.

There are 5 things sellers should expect from their listing agent, professional photographs are one of them. However, while the quality of photographs falls on your listing agent how the home appears in the photographs falls on you, so make sure your home is ready for picture day and avoid ugly home staging. You only get one first impression, make it count!

Not Ready to be Shown
Not allowing showings upon listing your home in the MLS is another HUGE mistake! Believe it or not some sellers list their home only to say it cannot be shown for the first several days or weeks because they have family in town or need time to make repairs, paint or clean. Typically, a majority of showings will occur within the first week of listing your home due to the “new listing” frenzy, buyers want to be the first to see your home so they can rule it in and submit an offer or rule it out.

Once the “new listing” status fades, so does the number of showings and interest, which can negatively impact your bottom line. There is no reason to start accumulating days on market (DOM) and lose that “new listing” interest when you know your home isn’t ready to be shown, so don’t let your agent enter it in the MLS until it is ready.

Listing Day
Listing your home in the MLS on certain days can be another HUGE mistake! Yes, in some instances the day your home is entered in the MLS can impact the amount of interest and showings.

Every real estate market is different, so this is something you will want to discuss with your listing agent to see if it makes a difference whether your home is entered into the MLS on Tuesday as opposed to Sunday. In hot markets it may not matter what day a home is listed, but in some markets it does matter, so ask to ensure you don’t make a potential mistake.

“Trying” a List Price
Listing your home at a higher price is another HUGE mistake! Some sellers want to “try” a higher list price and are willing to reduce it if there is no activity, but this is one of the worse strategies EVER.

Sellers need to price their home competitively in order to attract the most amount of buyers. Once again the longer a home sits on the market the less desirable it becomes to a lot of home buyers.

Not in the Local MLS
Listing your with a Realtor who doesn’t have access to the local MLS is another HUGE mistake! Each area has it’s own MLS, some areas may even have more than one MLS and while your home may syndicate to the MLS where your home is located it may not transfer all of the information. When hiring a listing agent it’s important to know what MLS/board they belong to and how it might impact your home sale.

Final Thoughts
Within minutes of a new listing hitting the real estate market some sellers are already at a disadvantage and have made some crucial mistakes, which will cost them. If you plan on selling your home make sure it’s ready to be shown, will be entered in the local MLS at a competitive price and has photographs that are sure to draw a buyer in.