5 Mistakes Sellers Make When Showing Their Home

Like any industry, there are things that people do all the time that show up as a pattern to those that work in the industry.  Avoid being labeled by industry pro’s as a rookie or a newbie by being aware of some of the common mistakes home sellers make when they show their own homes.

1.  Talking Too Much

There’s a reason that agents ask the home sellers to leave when they show the home.  It’s hard not to say too much and it’s easy to say the wrong thing and not realize it.  Remember when you were getting your home ready to show and you made it neutral by depersonalizing everything?  Keep it neutral when talking to buyers.  Avoid talking about all of your family memories in the home.  Buyers need to be able to imagine themselves living in the home and it makes it hard when they are listening to stories about how many people you squeezed in the dining room that one Thanksgiving when the turkey slid across the kitchen floor.  Just stick to the facts.

Equally annoying is the “3 hour tour.”  Buyers don’t necessarily want a tour guide, but they understand it’s awkward for them to to do any in-depth exploring in your home with you there.  It’s natural to think “the more they know about this house, the more they will love it,” but actually, most buyers “know” within seconds of walking in a home if it is “the one” for them.  Keep it short and sweet and let the buyer set the tone.  If they keep asking questions, keep answering, but if they don’t have any thing more to ask or discuss with you, don’t try to hang on to them.

2. Telling people how much you spent on your remodel.

You know how every poker player has a “tell” of some sort?  Alcoholics say they can quit anytime, and overpriced home sellers talk about how much they spent on remodeling and upgrades.  It’s fine to mention specifics about upgrades and remodeling, in fact you should mention these things, but sharing dollar figures is something overpriced home sellers all have in common.  It’s common etiquette that people don’t normally talk about how much they spent on things and when sellers start divulging this kind of personal information, buyers see it for what it is… justifying a high price.

3. Failing to have potential buyers sign in on a guest registry

Agents leave business cards on the counter so people know who was in the home.  In a for sale by owner transaction, you need to track this information as well.  The obvious use of this tool is for security, but when used correctly, it can create a safety net for your transaction and even save you thousands of dollars.  If you are enrolled, log into the Member’s Section and see this article and video to learn even more.

4. Initiating discussion about price, motivation level or “bottom line”

Anyone that has had any training in negotiating has heard the phrase “first one to mention a price loses.”   That absolutely applies here.  It’s not a good idea to give a buyer or their agent information that will be used against you later.  This includes why you are selling (i.e.: job transfer, divorce, can’t afford the payment etc.)  Telling someone you will take even less than your advertised price is also giving away the farm.  Keep this information to yourself.  You may just end up getting an offer for exactly what you told someone you would accept…plus they want help with a few thousand dollars worth of closing costs and a bunch of expensive repairs; something you didn’t take into account when you mentioned your “bottom line” pricing.

5. Being picky.  About showing times, pre-qualification letters.

As a seller, you are at the mercy of the buyer in a buyers’ market.  You can’t afford to say things like “by appointment only,” or “pre-qualified buyers only” in your advertising.  I know of an agent that was working with a cash buyer.  They were looking at homes in a price range that doesn’t have many buyers, let alone buyers that could pay cash.  The agent called ahead to several of the home sellers the day before to let them know his buyer wanted to see their homes and the approximate time they would be coming.  Several of the sellers told the agent “it’s not a good time for us.”  Can you believe it?  Those picky sellers got passed over.  In a buyers’ market, sellers can’t afford to be picky.

What mistakes have you seen home sellers make when showing their homes?  Add your experiences in our comments section.

Additional Resources

Three Reasons To Use A Guest Registry (Enrolled Members Only)