Even though Denver is experiencing one of the best seller’s market in decades, there are still ways a seller can turn-off potential buyers. If a seller wants to get the most out of their property they need to listen to an impartial honest opinion. It may be an uncomfortable conversation with your real estate agent but they know best what a buyer will see….or smell…when they consider buying your home. In the end, a seller that does not recognize the 5 buyer turn-offs can lose money on the sale if their home if it sells at all.
5 BIGGEST BUYER TURN-OFFS
*Overpriced for the Market
*Dark and/or Dated Décor
Just because prices are skyrocketing across the metro area doesn’t mean you need to try and set a price in the stratosphere. A good buyer’s agent will find out quickly that your home is over-priced and will steer their buyers to a home that is more in line with the market. The problem with overpricing is that buyers that ARE qualified to buy your home won’t see it. Buyer’s that do qualify for the price you are asking will quickly realize that there are other homes in that range that offer more value.
Smells can come from a number of sources. Pets, cooking, lack of cleanliness, stale air, water damage, etc. etc. The seller may not even notice it but again a good, honest real estate agent will be able to give a “fresh” perspective. Unless it’s a new home, all houses will have a certain smell. If buyers can’t get past the pet urine under the carpet or the water damage in the drywall, the offer will be severely discounted or they will walk away holding their noses.
I have the joy living next door to hoarders. For them it’s a lost cause if they ever want to sell their home. For most sellers it’s just a matter of clutter that keeps them from getting the most for their home. I ask my seller to go outside and pretend I am their buyer’s agent showing them their home for the first time. Too many pictures, knick-knacks, figurines, mail, pet stuff, kitchen counter appliances, etc etc. Yes all of that is what makes it a home but if there is too much clutter, buyers cannot picture the house as their own. MINIMIZE! That means move out some of that furniture that makes rooms seem smaller than they really are. Clean up and store anything but the bare essentials. If sellers are still not sure how to optimize a showing, check out a vacant home for sale that has been staged. Minimal, tasteful, neutral will pay dividends at the closing table.
I love this term we use in the business to politely say you have let your house fall apart. Homes age and it’s your responsibility as a homeowner to make sure it does not fall into disrepair. If a potential buyer sees a leaning fence or a broken light they start wondering what else needs repair and how much it will cost. The buying process is grueling enough. Buyers do not want to spend more money and energy fixing the things you neglected. Common sense says you will not get the most out of your asset if its falling down around the buyers feet.
People buy pre-owned homes with expectations that it may not have the latest furnishings and fixtures. Some things age well and some do not. Harvest gold and avocado green from the 70’s, soft blues and mauves from the 80’s, jewel tones from the 90’s, and onyx and pewter from the 00’s are, while very popular in their day, date your home. Popcorn ceilings, shag or berber carpet, and wallpaper are way past their prime. While a dated décor may be the least critical of the turn-offs, it can turn away buyers that do not want to spend money to bring the home into this decade.
In conclusion, the market is a brutal mirror. If you think you can beat the market by overpricing, if you think smells and clutter are your business not buyers, if you’re guilty of not putting money into your home because you believe others should pay you to profit, you’re in for a rude awakening. You will leave thousands on the closing table or be stuck with an asset that won’t sell.
Author:Jeff McGahey Phone: 720-309-2059 Dated: May 1st 2015 Views: 714 About Jeff: As a Colorado native, real estate broker since 2006, and real estate investor for over 15 years I ha...
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