The #1 Mistake Sellers Make in a Shifting Market
Today, we're stepping into the no-judgment zone to tackle a topic that's a bit like eating your vegetables – not always fun, but good for you.
I'm talking about mistakes.
Yes, those cringe-worthy "oops" moments we all wish we could forget.
In the world of buying and selling a home, these blunders are practically a rite of passage. But what if I told you they don’t have to be your story?
It’s time to pull back the curtain on a couple of all-too-common mistakes I see sellers making over and over.
But don’t worry – I won’t leave you there. I’m going to give you some pointers on how you can avoid them too. ;)
Let’s dive in!
Mistake #1: It’s a sellers market, We’re not budging! Falling into this trap is as easy, especially when it’s been pounded into sellers heads for what seems like half a decade now. The truth is, the market isn’t what it was last summer, and certainly not what it was 4 summers ago. Sellers that are willing to keep an open mind and adapt are the ones that are winning in this market. As the market shifts, nearly 44% of today’s sellers are offering concessions. That includes throwing in perks for buyers like repair credits or help with closing cost. But here’s the key. Concessions aren’t losses. They’re tools. And the homeowners who understand that are winning – big time. The truth, with home prices up roughly 55% over the past five years, there’s plenty of room to negotiate and still come out ahead.
Mistake #2: We can price it as high as possible! It’s a slippery slope. Yea, we want to get every penny possible out of the house, and we will! However PRICING THE HOME RIGHT, MATTERS MORE THAN EVER! With more homes to choose from, today’s buyers are quick to skip over homes that feel overpriced. That’s why pricing your house right is the secret to selling quickly and for top dollar. That’s a point Realtor.com really drives home:
“ . . . a seller listing a well-priced, move-in ready home should have little problem finding a buyer."
Miss the mark, though, and you may have to backtrack. Today, about 1 in 5 sellers (19.1%) are reducing their asking price to attract buyers. Here’s how to avoid being one of those sellers who has to reduce their asking price. Danielle Hale, Chief Economist at Realtor.com, says:
“The rising share of price reductions suggests that a lot of sellers are anchored to prices that aren't realistic in today's housing market. Today's sellers would be wise to listen to feedback they are getting from the market.”
The best way to get that information? Lean on an experienced agent that IS ACTUALLY buying and selling homes. They have the expertise to set a price that sells in any market. Because if your price isn’t compelling, it’s not selling.
Spotting these pitfalls from a mile away means you can sidestep them with ease, paving your way for not only great offers, but a smoother transaction (and less stress) Because, let's be honest, learning the hard way is overrated. ;)
And to help you avoid these mistakes together, let’s sit down and go over realistic numbers AND scenarios to see if selling your home is the right move.
Looking to buy? Now more than ever is time. Leaning into experience of crafting strong offers and working smoothly with sellers provides the best opportunity in years to purchase that dream home, whether it’s your first or your fifth!
Now, it’s your turn…
Ever face-planted so hard you thought you’d never recover?
Hit “reply" and share your tale of woe (or woah).
Can’t wait to hear your story!
P.S. Stuck on something right now? I’ve got your back. Let’s unpack that challenge together. Reply to this email. I always respond. :)
