12 Common Meridian Idaho Home Seller Mistakes

Avoid these 12 common mistakes if you’re a Meridian Idaho Home seller!

Meridian Idaho Home

1) No Sign

You want to sell your home, right?

But you don’t want a sign?

Perhaps you don’t want your nosy neighbors to know you’re selling.

Or, you just don’t want to be bothered by everyone asking why you’re selling?

Whatever your reasoning, you should reconsider.

Your home needs to be to be exposed to the market if you want to sell it.

That includes having a sign in your front yard.

It’s very difficult to sell a home that’s a well-kept secret.

Ensure that your listing agent installs a high-quality aluminum cross-post sign instead of a cheap steel frame sign.

2) No Flyer Box

Now that we’ve covered the sign issue, let’s talk about flyers.

Experienced listing agents understand the importance of attaching a flyer box to their attractive cross-post signs.

Make sure your listing agent understands the need to have flyers in the flyer box.

There’s no point in having an empty flyer box.

Your listing agent should provide full-color flyers, print them on high-quality paper, and include professional quality high-res photos that illustrate your home’s best features.

Above all, your flyers should include the asking price!

3) No Lockbox

Buyers and their agents want to see your home when it’s convenient for them.

That means installing a lockbox near the front door for easy access to your home.

You needn’t be concerned about strangers entering your home unaccompanied by an agent because only agents will be able to open the lockbox.

And, when an agent opens your lockbox, their name and contact information are immediately e-mailed to your listing agent for showing feedback.

Many buyer’s agents view homes without lockboxes as an indicator that the seller isn’t motivated to sell.

No lockbox can result in no sale.

4) Showings Arranged By Listing Agent

I’ve never understood why listing agents insert themselves into arranging showings.

Doing so creates the need for additional phone calls, texts, or e-mails and clogs up the simple process of arranging a showing.

The easy way to arrange showings is to include seller contact info in the MLS listing (displayed only to other agents) and let the buyer’s agent contact the seller directly.

Further, many agents fail to answer their phone or return calls, which makes it very difficult to set showing appointments through them.

No showings = no sale.

5) Requiring Your Listing Agent To Be Present

Requiring your listing agent to be present during showings is a sure way to discourage showings.

Buyers and their agents are actually capable of deciding if your home is what they want without enduring a listing agent’s sales pitch (again pointing out the obvious) to them during a showing.

Some buyers will refuse to view your home if you require your listing agent to be present during showings.

Requiring your listing agent to be present during showings is enough to keep your home from selling.

6) Remaining Home During Showings

I’ll make this as simple as possible.

If you’re a seller, turn on the lights, open the blinds, and LEAVE when your home is shown!

Buyers and their agents will not appreciate you leading them through the house and pointing out the obvious, like “this is the kitchen”, “this is the bathroom”, and other special features of your home.

Plan on being gone during showings so the buyer’s agent can show your home without your “help”.

7) Not Removing Your Dog

I’m a dog lover.

But, I’ve learned from experience that it isn’t a good idea to have a dog present during showings.

I understand that your dog can be contained to avoid contact with potential buyers and their agents.

But, when a dog is contained, it can still be a distraction and make buyers and their agents uneasy.

Some buyers and their agents will feel threatened, or intimidated by your dog.

Intimidated buyers usually don’t make positive decisions about the home they’re considering.

There’s also the issue of pet odors.

You may believe that your home has no pet odors, but some buyers will notice them, even if you don’t.

I understand that Brutus is your pal and part of your family.

Nonetheless, I’ve personally been bitten by more than one innocent Brutus over the years.

One of those incidents even happened in the presence of sellers while I was previewing their home.

Not removing your dog during showings can result in fewer showings and no sale.

8) Overpricing

Yep, your Meridian Idaho Home is special.

That’s why you may think it’s worth more than every other home like it.

Fact is, savvy buyers are often more aware of property values than their agents.

Price your home correctly if you want it to sell, appraise, and close.

Overpricing can result in a longer time on market, price reduction(s), a weakened negotiating position, and a lower sales price.

9) Reduced Commission

I will avoid stating specific commission rates here.

Simply stated, you’ll probably be at a disadvantage if similar homes are offered with X% commission and you offer to pay buyer’s agents less than X%.

10) Not Preparing Your Home For Sale

I sometimes hear sellers say “the buyers can do whatever they want after they own my home” when we discuss things like carpet cleaning, window cleaning, blinds cleaning, paint and touchup, decluttering, and other presale preparation items.

The old saying “you don’t get a second chance to make a good first impression” is especially applicable when you’re preparing to sell your home.

Step back and look at your home as potential buyers will view it.

Every objection you fail to cure will come back to bite you when you get offers.

11) Uncomfortable Thermostat Settings

I’m often amazed when I show homes that are freezing cold in winter and stifling hot in summer.

I’ve shown homes with thermostats set to 85 degrees in summer and 55 degrees in winter.

Worse yet are homes with the heating/cooling completely turned off in a feeble attempt to save money on utilities.

If you want your home to sell, make your home comfortable for buyers and their agents.

Inadequate heating/cooling will cause buyers and their agents to turn around and walk out without seriously considering your home.

12) Not Responding To Offers Promptly

There’s a trend, these days, to see language in listings stating “Seller Will Review Offers On (insert date)”, or “Please Allow 48 Hours For A Response”.

Translation: “We’re stalling while hoping to create multiple offers”.

The excuse that sellers are too busy, or not reachable, is laughably weak when everyone has a cell phone in their hand.

I’m one of many agents who advise their buyers to avoid sellers who play this game.

If you want to sell your Meridian Idaho Home, respond to offers quickly!

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So, there you have it.

12 simple tips on how to sell your Meridian Idaho Home.

Looking for an experienced listing agent?

I practice “No BS” real estate with no self-serving sales talk!

I will advise you on how to prepare your home for a smooth, top-dollar sale.

Give me a call at (208)938-5533 or e-mail me and let’s talk.

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Buyer’s Remorse Can Be Expensive

I rarely experience a buyer who gets buyer’s remorse.

buyer's remorse

But, I dealt with that experience a couple of years ago with clients who were concurrently sellers and buyers.

They listed their home with me at a price above what I recommended and the house needed some repairs that they didn’t want to make.

Their attitude was “we like it the way it is and the buyers can take care of that stuff!”

Like many sellers, they were concerned that their home would sell before they could find their next home.

Then, I suggested they check with their lender to see if they could qualify to buy their next home without first selling their present home.

To our surprise, their lender pre-approved them to buy without first selling.

Armed with their pre-approval, I went to work and found the perfect home for them in a beautiful development, backing to common area, a three-car garage, and everything they wanted.

Their offer was accepted and we got through the home inspection, repairs, and appraisal easily.

We were set to close on a Monday.

Then, my client called me the preceding Friday and said “we’ve decided we’re not going to close!”

They were not only unwilling to close; they had no remaining contingencies in their purchase and sale agreement, and wanted their earnest money back because they had “changed their minds”.

My clients even called their lender and fraudulently tried to get them to withdraw their loan approval to create an “out” and avoid closing.

To make things more interesting, the sellers had purchased a new spec home from a builder that was scheduled to close concurrently with the sale of their home.

That builder, thinking he had his spec home sold, had gotten a construction loan and started another home.

Further, the sellers had already moved most of their possessions out of the home, thinking that we were going to close in a couple of days.

Can you spell d-a-m-a-g-e-s?

The sellers and their listing agent were understandably enraged.

If you’re a buyer and unsure about the consequences of changing your mind and failing to close, you should pay close attention to the language in your RE-21 Purchase and Sale Agreement that explains the consequences of defaulting on your contract.

Changing your mind (aka buyer’s remorse) can quickly become very expensive.

Among other things, you can lose your earnest money, become liable for all transaction costs incurred during escrow, and also become liable for damages in a costly lawsuit.

In case you’re wondering, my buyers finally came to their senses and closed.

The home they purchased has since appreciated substantially.

I released them from their listing, they listed their previous home with another agent, and it eventually sold for the exact price I had recommended.

They made several more mortgage payments before it sold, they paid the buyer’s closing costs, and had to install a new roof to achieve a sale.

Now you know what can happen when you get buyer’s remorse.

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The Ugly Truth About Real Estate Scripts

If you’re the typical Meridian Idaho home buyer, you may already have encountered real estate agents who use real estate scripts.

real estate scripts

You may think your agent is responding to your questions with spontaneous, factual answers as you would expect in a normal conversation.

But, there’s a chance that your agent is using scripted responses to your questions.

Real estate scripts are commonly used to persuade and overcome objections.

Amazingly, some agents are actually taught to memorize and use them as part of company training programs.

Memorized scripts are especially useful for new agents who don’t know what to say to clients because they have no real estate experience to accompany their new real estate license

I recently saw a large national real estate company’s training manager in an online post, urging the company’s agents to memorize and practice their scripts each morning.

This is so foreign to me that I have trouble visualizing doing it.

What do you do, stand in front of your bathroom mirror and chant your memorized scripts every morning?

That seems a lot like reinforcing that you’re a fake who must rely upon trickery to make a sale.

The concept is bizarre and disgusting to me.

If you’re doubting that real estate scripts are commonly used, check out these links:

https://mapscoaching.kw.com/script

http://cbmarketingmix.com/take-advantage-of-30-free-email-scripts-now/

http://therealestatetrainer.com/category/real-estate-agent-scripts/

http://www.tomferry.com/tag/real-estate-scripts/

I could provide numerous other links, but you get the idea.

If you’d like more examples of this practice, simply Google “real estate scripts”.

Disgusting, isn’t it?

How disingenuous must an agent or real estate company be to use these scripts?

Whatever happened to simply being straightforward and honest with people?

Successful, professional agents tell their clients the truth about their intended transaction vs. spewing incessant, insincere, scripted sales talk.

I learned, long ago, that a good client doesn’t need to be tricked into buying or selling a home.

They simply need their agent to understand what they want to accomplish and help them achieve their real estate objectives.

Sadly, some real estate agents spend more time learning the tricks of their trade than learning their trade.

When you grow weary of working with agents who use these tactics, give me a call at (208)938-5533 or e-mail me.

I despise tricky sales tactics.

My past clients will tell you that I’m experienced, direct, factual, and tell them the truth, even if it isn’t what they had hoped to hear.

Over many years, I’ve actually earned a reputation for telling my clients to “not” buy homes that I will not recommend when I could easily just shut up and make a sale.

I will tell you the truth, even if it means we don’t do business together.

That’s why I’ve survived and thrived during my 46-year real estate career and enjoy working almost 100% with repeat and referred clients.

So . . . . when you’re ready for a fresh approach, I’d enjoy hearing from you!

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I specialize in Boise Idaho homes, Meridian Idaho homes, and Eagle Idaho homes.

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8 Things To Know About Eagle Idaho Open Houses

The truth about Eagle Idaho open houses !

Eagle Idaho Open Houses

Listing agents love Eagle Idaho open houses!

Ever wondered why?

It’s because open houses are nothing less than a listing agent using your home as “bait” to meet potential buyers.

Very few homes are purchased by buyers who visit Eagle Idaho open houses.

While it sounds appealing to expose your home to the masses and let them walk through your home, there are many inherent risks, including:

1) Unqualified Buyers

There’s little point in showing your home to people who lack pre-approved financing.

Many open house visitors begin to look at homes before getting pre-approved.

Your home should only be shown to buyers who have pre-approved financing.

2) Lookers vs. Buyers

Real buyers work with a buyer’s agent, have signed a Buyer Representation Agreement, and usually have pre-approved financing.

They will view your home by appointment and be accompanied by their agent.

That’s an important difference vs. opening up your home to strangers (lookers) who are unaccompanied by an agent.

Open houses attract a lot of lookers.

Real buyers?

Not so much.

3) Looking for Decorating Ideas

Thanks to HGTV, half of our population is now focused on the latest decorating fads.

Eagle Idaho open houses provide the perfect opportunity for those people to cruise through your home in search of decorating ideas.

Why open your home up to people who aren’t even interested in buying a home?

4) Exposure To Strangers

Letting strangers wander through your home is dangerous for you and your listing agent.

If those strangers are unaccompanied by an agent, you and your listing agent know nothing about them.

They may not be ready to buy, they may have a home to sell before buying, and they probably lack pre-approved financing.

They could have criminal records, be sexual predators, or worse.

Each year, numerous real estate agents across the U.S. are attacked (some murdered) while showing homes to strangers.

Do you really want strangers walking through your home at an open house?

5) Unaccompanied Open House Visitors

Your home should only be shown to prospective buyers who are accompanied by an agent.

That agent should be required to open your lockbox to create an electronic record of entry to your home, even if you open the door to let them in.

6) Risk of Theft

Your listing agent should advise you to lock up your prescription drugs, money, firearms, and financial documents when you list your home.

This is even more important if your listing agent plans to hold open houses.

It’s easy for open house visitors to open your bathroom drawers and grab prescription meds if you don’t lock them up (you won’t miss a few of those painkillers or anxiety meds).

7) Risk of Future Burglary

There’s a reason why listing agents check for unlocked windows and doors at the end of an open house.

A listing agent simply cannot watch every open house visitor 100% of the time while they explore your home.

Open house visitors are often able to walk through your home while the listing agent is busy talking with other visitors and unable to keep an eye on everyone in your home.

That makes it easy for someone to unlock a window, or a door, so they can return later when you aren’t home.

8) Nosy Neighbors

Your neighbors would love to see your home, your décor, and see if you’re a good housekeeper.

An open house will provide an opportunity for nosy neighbors to see how your home compares to their home.

Then, your home will be the topic of conversation when those neighbors return to their own home 🙁

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Your Meridian Idaho Home Has Many Values

You might be surprised to learn that your Meridian Idaho home has many different values, including:

What You Think Your Home Is Worth

All of us, including me, think we have the nicest home in our respective neighborhoods.

Your home is special and valuable to you because you’ve made it what it is.

What Buyers Think Your Home Is Worth

Buyers view your home differently than you do.

Buyers usually evaluate your home using (often questionable) information they’ve seen on the internet.

What The Appraiser Thinks Your Home Is Worth

The appraiser will value your home using factual data from comparable closed sales of other Meridian Idaho homes.

It’s important to realize that an appraisal is a subjective “opinion of value” based upon the appraiser’s interpretation of comparable sales data.

The appraiser is hired by the buyer’s lender to determine if your home’s value is adequate for the intended financing.

That appraised value is not necessarily true market value.

What The Tax Assessor Thinks Your Home Is Worth

The tax assessor determines the assessed value of your home using entirely different methods than those used for lending appraisals.

Idaho assessed values are determined once a year with the assessor’s unique formula.

In my experience, assessed values are usually lower than market value in rising markets and above market value in declining markets.

What The Internet Thinks Your Home Is Worth

Various internet real estate portals claim they can figure out the value of your home using a computer that has never seen your neighborhood or your home.

That process is an AVM (automated valuation method) that often generates inaccurate estimates of market value in Idaho.

Those computers have no idea if your home is in model home condition, or if it’s a dump.

They also don’t know if your neighborhood is pristine, or full of neglected rentals with abandoned furniture sitting in driveways.

Those real estate portals are in the “lead” business; not the real estate business.

They display enticing, limited listing information, then capture your contact information when you register to view listings.

Then, you become a “lead” and your contact information is sold to real estate agents.

What Your Neighbor, Bob, Thinks Your Home Is Worth

Your neighbor, Bob, thinks he knows everything about real estate and what your home is worth.

Bob has a vested interest in seeing your home sell for more than it’s worth because he thinks that will increase the value of his home.

And, Bob is probably also certain that his home is worth even more than yours.

Finally, Bob probably isn’t a skilled, experienced Realtor® who knows the true value of your home.

Don’t listen to Bob when you’re preparing to sell your home.

(sorry Bob!)

What A Listing Agent Thinks Your Home Is Worth

Some listing agents will tell you what you want to hear to get your listing.

In real estate, we call that “buying the listing”.

The problem with that concept is that your listing agent isn’t going to buy your home.

Your home is worth what a willing, qualified buyer will pay for it – period!

Don’t list your home with a listing agent who promises you an unrealistic asking price.

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Thinking of selling?

Ready for some no-BS straight talk vs. the usual sales talk?

Give me a call at (208)938-5533 and let’s talk!

_______________________________________________________

Phil Hoover is a licensed independent Idaho real estate broker, assisting both buyers and sellers in Boise Idaho, Meridian Idaho, and Eagle Idaho.

During his 45 years of full-time real estate experience, Phil has helped thousands of past clients buy and sell quality properties in the Western U.S.

Phil is one of only ten local Realtors® (of nearly 5,600) honored with the coveted “Realtor® Emeritus” award from the National Association of Realtors®, recognizing 40 years in real estate.

 

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