The reason “Top 7” lists draw such universal attention is their value as time-savers: you can skim down the bold-faced items to spot topics of interest, needing to read further only for those that can use further explanation. When it comes to home selling in Bowling Green and being a for sale by owner, common flubs would be of interest if you’ve just been through a sale or are beginning to entertain the idea. Knowing the most common missteps certainly can’t hurt.
It has to be noted that home selling blunders to avoid are compiled for the benefit of For Sale by Owner do-it-yourselfers. The target readership are those who for some reason have fallen prey to the undisputed flub #1: failing to hire a licensed Kentucky real estate agent such as (to pick a name at random)…me!
Given that understanding, here are what appear to be the most often repeated home selling flubs—presented as overs and unders. They’re listing in no particular order:
1. Over-improving. Because price is such a pivotal home selling element for any Bowling Green property, putting in a major upgrade prior to selling is bound to be a flub that either prevents a sale or costs a bundle.
2. Under-researching. Knowing what is currently on the Bowling Green market is the only sure way to position your own offering. Failure can be counted on to lead to
3. Overpricing. Prospective buyers will be comparing your offering against homes in the area of similar age and size and comparable condition. Underpricing an offering is also a danger, but it’s hard to pin down and rarely mentioned.
4. Under-marketing. A For Sale by Owner sign in the yard is effective only for potential buyers who are driving down your street—a tiny fraction of those who might otherwise be interested.
5. Under-budgeting. Preparing sales materials, advertising insertions, and arranging for inclusion in the Multiple Listing Service are costs that need to be budgeted on an ongoing basis.
6. Overlooking flaws. Being proud of your Bowling Green property is all well and fine, but your own pride of ownership is the opposite of most buyers who start from a skeptical perspective. IOW, be sure you’ve made your Bowling Green super-showable.
7. Over-optimism. When a dream buyer is on the line, enthusiastic and cooperative, it’s wrenching to ultimately find that you’ve been wasting time with an unqualified buyer. If you aren’t represented by an experienced Realtor®, you’re the one who must qualify prospects before showings.
These seven unders and overs appear on almost all the “home selling mistake” lists—but they aren’t comprehensive. Most (almost nine out of 10) buyers avoid discovering these or less common pitfalls by teaming with an agent.