Seller behavior may affect the marketability of a listing. Some typical seller mistakes listing Farmington Hills properties are more critical than others. Sellers should know the impact of their own behaviour and avoid the errors below.
Typical Seller Mistakes Listing Farmington Hills Properties
Failing to Clean Up
It can be tedious to keep a property presentable for every showing especially when you are still occupying it. Sellers must spend time cleaning prior to property viewings and open houses. Buyers will notice the mess instead of the amenities of a property, so neglecting to clean up will make your home less marketable. Furthermore, buyers assume that sellers who do not clean their property also avoid serious home maintenance. Cleaning up helps listings sell faster and for a higher price.
Inconvenient Showing Instructions
Requiring too much notice or limiting appointment times can be a bad decision. Another mistake is not making it easy to get keys for a property through a lock box. When competition is heavy, people will focus on easy showings. Complicated showing instructions result in decreased opportunities and extended listing time frames.
Being Present During Viewings
Home owners may wish to be present during appointments, but this can do more harm than good. Buyers can feel uncomfortable looking through a house under the close watch of a seller. Additionally, excessive conversation with a property owner may distract a buyer from the property itself. Buyers prefer to take time to explore a home and to talk freely with one another about their thoughts. Also, sellers and buyers talking with one another could result in misconceptions about motivation and terms.
Pricing Too High
Price affects marketing time and what it may ultimately sell for. Of the typical seller mistakes listing Farmington Hills properties, this one is most critical. It is understandable for homeowners to have an attachment to a home and to try and get the best price possible. However, overpricing is dangerous. Overpriced real estate take more time to sell than correctly priced ones. As time passes, the listing grows old and is less intriguing to buyers. Long marketing time and price reductions over time will lead the listing to sell for less. For this reason, there is really no benefit to overpricing homes. Consult with a real estate broker for an estimated market price and delay listing your home if the market value is not enough.
For Sale By Owner
Some owners attempt to sell on their own. Even though it can be done, there may be many headaches and costly mistakes along the way. Real estate agents are trained on positioning a property, being an intermediary, negotiating contracts, and protecting the interests of sellers. They also understand changes in the market. Experience will make a big difference, particularly during changing real estate markets.
Sellers Are the Key
Sellers play an important role in the marketing of real estate. The typical seller mistakes listing Farmington Hills properties above are merely the most critical mistakes. An experienced listing agent can prevent other marketing pitfalls. For additional information on this and other similar topics, contact Tom Gilliam at 248-790-5594 or [email protected]
Amazon has invaded the realm of Farmington Hills real estate—but you couldn’t say it’s happening in a big way. It’s happening in a tiny way. Last week the improbable news arrived that the web’s 400-pound gorilla had made its first foray into the realm of real estate. Since Farmington Hills real estate (like all real estate) is by definition local, its very nature would seem to preclude the buying and selling of homes as a mail order enterprise. But since Amazon.com has succeeded in other industries where failure had been assumed (high-end fashion, for instance), could local Farmington Hills real estate soon be monopolized by a tsunami of Amazon Prime home sales? At least it warranted some looking into!
Farmington Hills Real Estate Braces for Amazon.com Incursion
It turned out that Farmington Hills real estate was not likely to be overcome anytime soon. The Amazon listings that showed up are hard to find, and not likely to tempt many Farmington Hills home shoppers. The few listings were only searchable when you entered “tiny homes”—and the few homes being offered were sandwiched in between how-to books about designing and building very small cabins.
(Here, a note for Farmington Hills residents who aren’t familiar with the “tiny homes” phenomenon…they are what the name says: structures smaller than 400 square feet…although some can be as microscopic as 80 square feet, most are in the 300-350 range).
You may not find too many tiny homes in Farmington Hills, but the movement is nation-wide. And the concept is not as far-fetched as it might seem. Anyone who has taken weeks-long vacations in campers or lived for any stretch of time on a pleasure boat knows that you can reduce your living space to a slender minimum if you plan carefully.
Back to Amazon. The lead-off listing was a pre-fab tiny home converted from a shipping container. Like any good Farmington Hills real estate listing, the details pointed out key selling points (in this case, the shipping container was new). Price was a thrifty $36,000, which would be even more thrifty if the “$0.00 estimated tax” turns out to be accurate. The customer reviews were mixed, with one in particular naming a possible sticking point: meeting Michigan and Farmington Hills building codes. Additionally, Amazon Prime members who revel in their free delivery perk were bound to be disappointed: the tiny home wasn’t eligible (they’d have to pony up another $3,754 in shipping fees).
If your own Farmington Hills home buying or selling requirements are greater than the tiny home square footage limit, I’m here to lend a hand. Call me!
A while back, Forbes noted what they called “The Four Ways the Real Estate Market Changes” after Labor Day. The article recognized a truism that holds for most parts of Michigan—namely, that the period between Labor Day and Thanksgiving is what most of us think of as “fall.” It went on to describe four ways the change of seasons alters the house hunting landscape.
Although I may not agree entirely with their broad brush proposition that a great number of house hunters throw in the towel after Labor Day, the four market changes described are often true enough.
Farmington Hills House Hunting, Labor Day Means “Go!”
- More of a buyer’s market. Buyers who have held off through the prime selling seasons are more apt to find sellers who are more open to negotiation.
- Action increases for vacation homes. This is prime time for Farmington Hills home shoppers whose eyes are on vacation homes. By purchasing in the fall, “you can have it bought and furnished by spring.”
- Price dips. House hunters find that asking prices, like the autumn leaves, fall. Forbes may have simply been unable to resist the simile, but in many cases, it’s true!
- Open-ended house hunting. Time pressures (like having to be moved in by the first day of school) will have vanished by Labor Day, so many Farmington Hills house hunters tend to adopt a more leisurely house hunting attitude. There may also be something about crisp autumn days (and they’ll be here soon enough) that helps contribute to a more relaxed atmosphere—at least until the Holidays loom!
Every Farmington Hills house hunter has specific individual goals and expectations—and of course, the same is true for sellers, as well. But it does seem to be true that post-Labor Day Farmington Hills listings tend to include an uptick in price reductions—as well as some withdrawals that, as Forbes might have it, “will sprout anew” come springtime.
If your busy summer included activities and travel that kept you fully occupied, now may be an opportune time to inaugurate your own Farmington Hills house hunting venture. If so, do give me a call!