After deciding to sell their home (which is a big decision, by the way) most people spend a couple of weekends clearing out some closets, maybe touching up paint and giving the house a general cleaning. They think that they are ready to go on the market and then their big, bad agent shows up and shoots them down on price or condition or sometimes even both.
Your Agent is Not Trying to be Mean
Before we list a house, we try to look at it objectively and through the eyes of a buyer. It’s easy for an agent to do, because we not only go in and out of hundred of homes a year, but when working with buyers we hear their feedback and pick up on the most common objections they have to some homes.
That’s not so easy for a home owner to do. Most of us are proud of our homes, our decorating and our curb appeal. We get used to the little things that might not be perfect and tend to overlook them. That’s why listing agents usually have to give sellers a list of things to do before going on the market and opening their home to the prying, critical eyes of today’s home buyers.
Common Buyer Objections
While schlepping through house after house after house in their search for the one that screams “buy me!”, buyers will usually share what they don’t like with their agent. Some of the most common objections are:
Kitchens and baths that have not been updated. Yes, there are people who will love your retro, pink tiled bathroom. But, there are not very many of them. And the 1980s country kitchen? It may be completely comfortable for you, but keep in mind that you are selling a home in 2010 and if a buyer senses that a major update is needed, it will be reflected in any offers you receive if you are not priced right.
Dirty or worn flooring that needs to be replaced. If a steam cleaner doesn’t take care of spots and stains on your flooring, you need to either consider replacing it or adjusting your asking price to accommodate the buyer’s need to do so. Hint: most buyers will ask for much more off of the price than it would cost to go ahead and replace the flooring.
Personal paint color choices that don’t fit their taste. There’s a reason that agents preach neutral, neutral, neutral. Lots of buyers don’t mind having to do a little painting to make a home their own, but it’s easier for them to envision that when they are starting with a neutral color. Any bright wall color is just too personal when selling your home.
Poor curb appeal or landscaping. Peeling paint or missing siding should be addressed immediately. Those are big red flags for FHA inspectors and appraisers and not taking care of them can eliminate your home from consideration by the majority of buyers today. Your curb appeal is the first thing that people see and no matter how spectacular the interior of a home might be, pulling up in front of a house that obviously needs some front yard TLC can be a turn off that leads to not even getting through the front door.
Odd floor plans. When marketing, we call these “unique”. The bottom line is that if you have a floor plan that leads to questions about what a space is used for, home staging might be the best thing you can do to help a buyer make sense of it.
Too much work for the price. There are a lot of buyers who are looking for something they can put their personal stamp on, so they don’t mind some of the things listed above. However, the price of a home has to reflect that. You can’t price at the top of the market and expect the do-it-yourselfers to come flocking to the door.
Overpriced for the neighborhood. I hope that when you are deciding on an asking price, you are looking at not only what homes have sold for recently in your area, but also what homes are currently priced at. If your competition is all priced below recent sales, you’ll have a hard time justifying a higher price.
Need an honest, objective opinion on the condition and value of your West Bank home? Contact the West Bank Living team today. We’d be happy to help you determine what improvements will give you the most bang for your buck in today’s real estate market.
