How to sabotage your own sale in a few easy steps

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Published Date 4/18/2024

It matters not how many frenzied offers you get after listing your home these days. What matters is if the one you accept sticks and leads to your next move.

According to Realtor’s Lisa Marie Conklin, the many moving parts of a real estate transaction might even have you unwittingly using some home-selling tactics that could backfire and ultimately kill the deal. So she asked real estate agents how some home sellers self-sabotage by neglecting crucial aspects of the selling process.

One of the bad habits the pros say you should give up include rushing the process. Greenwich, CT-based agent Jen Turano says she has seen countless deals fall apart partly due to the frenzy surrounding the home’s initial listing. “Buyers stepped up with little time for their own diligence, made rash offers, had second thoughts, and backed out for one reason or another,” says Turano. “The home was back on the market weeks later, losing some of its early momentum.”

She advises taking a breather and truly scrutinizing all those offers. Start vetting the buyers, their level of interest, and their loan qualifications. “Thoughtful consideration benefits you greatly and leads you to the best, most certain deal,” says Turano.

If you think seller concessions are no longer necessary because homes are in such high demand, think again. “With today’s high mortgage rates, buyers need a little more wooing,” says Conklin. “Seller concessions can help seal the deal by taking the sting out of all the money a buyer has to shell out.” Experts say concessions are an opportunity to negotiate and build rapport. By being flexible and open to compromise, you’ll attract more serious buyers and increase your chances of sealing the deal.

Another way to shoot your listing in the foot? Let your ego and pride enter the formula by setting the price too high — a buzzkill for potential buyers. Remember that listings get the most action in the first 30 days. When a house is priced too high, buyers ignore it and you lose precious momentum, says Conklin. “Buyers might think something is wrong with the house. If it languishes longer, buyers might think you’re desperate and present lowball offers.” Your Realtor can advise you on setting a realistic price that aligns with the current market, generate healthy competition, and increase your chances of a successful sale.

Just because listings are scarce doesn’t mean you shouldn’t consider sprucing it up before you list it. A house falling apart at the seams — listed in its current condition without making any repairs — can seriously limit your pool of potential buyers, as they might not be able to secure financing if the property is in poor condition.

Another agent Conklin consulted with told the tale of a client who was purchasing a home as is, but the lender went back to her client to tell him that the roof was in bad shape and they wouldn’t finance the property unless it was repaired.

Lastly — who is selling the house — your pets or you? “Though most people understand pets are part of the family, potential buyers probably don’t want your overly excited pooch jumping on them or triggering their allergies,” says Conklin. “Plus, your pets could bolt for the door and escape.”

Make sure potential buyers focus on your home and its merits, and not rush through to evade a pet. Simply take your pets when you have a showing. “If you can’t, keep them in a comfortable spot in the home and give your agent the heads-up on what to expect,” says Conklin. And don’t forget to clean pet areas before every open house. Smelling or stepping in dog poo leaves a really bad first impression. Who wants a buyer to remember your listing as the “poopy house?”

Realtor, TBWS

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