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5 Mistakes To Avoid When Selling a Real Estate Property

According to research, millennials accounted for 33% of all homebuyers in 2017. And by 2025, they are expected to own 20 million new households in the United States.

Millennial homebuyers make more informed and calculated decisions, hence, realtors need to step up their game to find success in the real estate industry these days.

Here are five common mistakes that realtors make when selling a real estate property.

Mistake#1: Poor or low-quality photos in your listing

Many realtors lose out on potential clients due to poor quality photographs in their listing. Remember, more than 50 percent of all homebuyers use the internet to find a home, and the first thing that prompts them to check out a property is the cover photo.

Hiring a professional photographer to take eye-catching photos of your house can make a huge difference. According to statistics, house listings with aerial photographs sell 68 percent faster than properties with standard pictures.

Mistake#2: Criticizing the house or neighborhood

This goes without saying, but you should never talk badly about a house or the neighborhood it was built in when trying to close a deal. Many realtors get carried away and let slip that other client’s are sick of a house or its surroundings, which is an absolute deal-breaker.

For instance, if a buyer believes that your client is selling a property due to a noisy neighborhood or lack of transportation, they might have second thoughts, even if these factors are insignificant for them.

Mistake#3: Not cleaning the house before showing it off

Ask yourself this: “Would you buy a house that’s dirty?” The answer’s probably a no. No one wants to invest money in a property that’s grimy and unhygienic.

Many homeowners don’t clean their property before putting it in the market, which is a big turnoff for buyers. It gives off a negative perception of the home to buyers, leading them to believe that there might be more underlying issues with the property.

Mistake#4: Showing desperation to sell the property

One of the golden rules of effective negotiations is not showing desperation. Some realtors show too much eagerness when trying to close a deal, which reduces their bargaining power and allows buyers to make lower bids.

It’s critical that don’t disclose any information that gives buyers an idea that your client is looking to sell a property urgently, even if your client is having financial difficulties and is willing to accept a lower offer than market value.

Mistake 5# Excessive follow-ups

It’s good practice to conduct regular follow-ups with potential buyers to learn about how they feel about the house. However, it’s also necessary to avoid going overboard.

You should give buyers sufficient time to think about the offer and ensure that you’re not nagging them with emails and phone calls. Not only will you sound desperate and receive a lower offer if you do, but you will also risk losing a potential client and damaging your reputation.

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