Coral Gables and Coconut Grove Home Sellers: Here’s Some Free Advice
The Coconut Grove and Coral Gables real estate markets are a finicky thing. Although these communities are sought after, buyers have high expectations. Here are some of the top mistakes sellers make when listing their home which ultimately cost them money and potential buyers.
Showing a house when there are leaking faucets, cracks in the walls, water stains on the ceiling, and a busted hot water heater are all ways to turn off potential buyers.
Although it seems counter intuitive to invest in a property you are about to sell, buyers add up all the repairs needed and inflate the price. Either they will walk away or ask for a hefty discount.
Everybody knows that fantastic front curb appeal sells homes, but many sellers forget what’s out back. In Miami, outdoor spaces are used year round. Therefore, a wow factor in patios is necessary. This is where buyers daydream of family gatherings and memory making. Make it count! Make sure the lawn is manicured, trees pruned and splashes of color dot the landscape. If you have a terrace or pool, assure that they are pristine.
Sellers think buyers will see past their clutter – strewn book bags, piles of bills on the dining table. Afterall, YOU live here. That’s a huge mistake. Huge. Buyers need space to imagine their life there. Many people are visual and can’t get passed everyday clutter. Additionally, they tend to dislike seeing a collection of family photos plastered on the wall or a collection of personal items. Declutter and depersonalize your home before listing. Enter this process for what it is – selling of a product which has competition. Make it look its best!
4. The Killer: Overpricing the Home
I meticulously prepare market value assessments for my clients prior to setting a price. I know what the market commands in Coral Gables and Coconut Grove. Even still some homeowners don’t believe the data applies to their SPECIAL house and require a disproportionately high asking price. Sometimes, I can’t align with those sellers. It’s in no one’s best interest.
Overpricing your home is dangerous —and you can end up burned in this ‘hot market.’ You run the risk that your home will sit on the market for weeks and months and become the stale listing that every home seller wants to avoid. Know the competition and set the right price—never overprice too high in hopes that someone will unknowingly overpay. If you list with a knowledgeable Realtor, rely on his or her counsel.
5. Getting Offending When Negotiating
Some sellers cannot imagine that a buyer would even submit a low offer on his/her property. They become offended! Instead of countering or entering negotiations, they shut down and do not counter. I typically recommend countering and opening the lines of communication. Do not take negotiations personally.
If you are considering selling and select me to represent you, my team and I will navigate you through all of these and countless other issues in order to ensure a profitable and positive transaction. Contact me today if you are ready to tackle the real estate market! 305.329.7770 or [email protected]