Biggest Home Sellers Mistakes - Survey Results

A new survey of 1000 real estate agents were asked about their experiences of the Biggest Home Sellers Mistakes and the following infographic shows the results:

Data provided by ActiveRain.com. 

In the Halifax Regional Municipality, I have experienced high expectations and the sellers' biggest mistake of being over priced (77%). Since the real estate market fall of 2007, there are still some sellers' expecting similar results in equity building as in previous years that led up to 2007. It's a far different real estate market here in Nova Scotia, with various complex factors affecting it that didn't exist before. Pricing properties to acquire similar return on investment as in the past is just that, a marketplace in the past, so expectations have to be more realistic. Another contributer can be expectations to pay off debt or have a bigger down payment due to new mortgage rules.  Either way, it won't work except to create frustration and disappointment. 

Everyone likes to get a deal and most sellers in today's Halifax marketplace expect to negotiate. I have never experienced the seller's mistake of unwilling to negotiate (21%). I'm not so sure it would be this high here.

As a Certified Staging Professional™ in addition to being a REALTOR®, with permission and preference, clients and I walk through their property to compile a list of things to do to maximize their return on investment. They decide what they do with the list, but I've been fortunate that in most cases, they do their best to do everything so they obtain their desired end results. I have never had trouble with the sellers' mistake Show-ability(34%) which is surprisingly high, but do agree there are some that make the mistake (20%) and won't do repairs.

Although sellers have become more familiar with home staging, I can believe sellers' mistake of having cluttered spaces (32%) is still a big challenge for some. Unfortunately, some people are not dealing with their stuff until after they have listed and not sold for a period of time. It is also possible this statistic is somewhat scewed by the increase number of Baby Boomers transitioning. De-cluttering seems like a simple task but for some people who have lived in their homes for a long period of time, it can be a difficult task.  

After taking buyer clients around, I'm not surprised with the high percentage of seller's mistake of having unpleasant odours (28%).  Some sellers have been living in their homes so long they've become accustom to their surroundings and need someone to let them know of any barriers that can prevent a sale. I can't imagine anyone purposely not addressing odours but you never know.

For the most part, I've been fortunate in the Halifax Regional Municipality to have clients that do what they can to help me, help them, sell their homes. I'm honest with clients when evaluating home preparedness - they addess issues and we sell quickly and at the most amount of money!

 

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