Jan
29

Are You Saying the Wrong Thing to Potential Buyers?

January 29, 2016
House for sale during the spring market

Getting you house ready for the 2016 spring housing market

The Big Game is almost here, and we finally know which teams will be competing in the Super Bowl. The Denver Broncos and Carolina Panthers will kick-off on February 7th, but they won’t be the only ones. Super Bowl Sunday is also considered the kick-off for the spring housing market.

When selling your home, there are a few issues you need to mention to potential buyers. For example, the house is located in a flood zone or has lead paint. However, as a homeowner you can also accidentally volunteer too much information in an attempt to make your home more appealing and sell it quickly. While some things must be disclosed, more information is not always better. Here is a list of the most common talking points to avoid when showing your home to a buyer.

“The house is in perfect condition.”

This is something that the majority of homeowners say about their home. To you, your home might be perfect, but remember there will be a home inspection, which could reveal imperfections that you can’t see. No house is perfect, whether it’s a resale or brand-new, there will always be something that needs to be repaired, improved or replaced.

“The house has been on the market for X days.”

By giving a potential homebuyer this information, it can also give them the wrong impression of the house, especially if your home has been on the market for a while. No one wants to worry that there is something significantly wrong with the house causing it not to sell quickly. The time on market is usually listed on the home’s information sheet. Leave it on the sheet, but do not emphasize that information to potential buyers by repeating it.

“We spent a tremendous amount of money on A, B, and C.”

When you initially purchased your home, you might have spent up to $50,000 to remodel your kitchen. However, the potential buyer is not concerned with how much you spent, but how much your home is worth compared to the homes in your neighborhood. If you draw attention to the cost of all the remodeling you did, it may appear that you are trying to justify your asking price.

“We constantly wanted to refurbish/fix that however…”

Everyone has their own idea of how they would like to remodel when purchasing a home. Leave those decisions to the buyer. If you point out different ideas or intentions throughout the house such as renovating the bathroom or knocking down a wall, you might give the buyer the idea that they will have to spend more money on a “fixer upper.”  While you may think you’re selling the home’s potential, the buyer does not care about your good intentions when it comes to possible remodeling ideas. Remember, your potential buyer might not share your vision for the home. Don’t plant the seed for these ideas and the potential extra cost of remodeling.

“We have never had a problem with A, B and/or C.”

What does that really mean as a seller? It means that no matter how eager you are to sell your home, do not feel tempted to tell even the smallest lie. For example, “the basement never floods,” “the neighbors are perfect,” or “the bathtub doesn’t leak into the basement.” Telling the potential buyer these untruths, no matter how small, might cost you the sale.  Remember, it is okay to admit if you don’t know the answer to their question. Honesty is the best policy!

“We are not taking less than X amount for our home.”

Anyone who has ever sold a home will tell you that being rigid and not willing to negotiate can be harmful in the long run. When coming up with a price for your home in Chicago, be realistic and reasonable. Check out homes for sale in your neighborhood to make sure that you are asking a fair price. Be willing to negotiate with the buyer so they do not feel defeated right from the start or they could leave without making a reasonable offer.

As you sit down with family and friends on game day, remember that now is the time to list your house for the spring market. Keep these hints in mind when talking to a potential buyer and you could sell your home quicker than anticipated. Think through what you would like to say to potential buyers, jot your ideas down and review with your realtor. Be strategic in your thinking and let your home sell itself!

Do you have any selling tips that have worked for you?

For more information on Chicago real estate, go to www.chicagorealestateforum.com.

About The Author

Lauren Pond

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