One Seller Mistake Reduces Buyer Competition - Harmony Realty Triangle
Harmony Realty Triangle
Follow us!

One Seller Mistake Reduces Buyer Competition

SELLING MY HOME

Don’t inadvertently scare away your buyers!

As a seller, you want the best price for your home. Buyer competition increases sales prices. Naturally, a seller does not want to do anything that will reduce that competition. We know that the more buyers that are interested in your home, the higher the price you can command. But, sometimes sellers inadvertently scare buyers away.  Staying in your home during a showing, even if you feel like you are staying out of the way, is one good way to chase away your potential buyers!

In order to understand how the seller’s presence reduces competition, you have to try and imagine yourself as a buyer. The following three scenarios show how buyers sometimes feel when the seller is present during the showing.

What Buyers Want

  • Buyer’s can’t imagine themselves living there if they feel like they are guests ~ Buyers need the freedom to imagine themselves living in your home before they make an offer. They want to stand in your closet and imagine their stuff in it. They want to pull open all your bathroom drawers to make sure there is enough storage. Your potential buyers don’t feel comfortable treating your home like it’s theirs as long as you are in it. They don’t want to feel like the guest, they want to feel like the owner. They cannot do that when the owner is present.
  • Buyer’s think you are spying on them ~ The Buyers viewing your home don’t necessarily think you don’t trust them with your belongings (although they might, and bad feelings are enough to kill a sale), but buyers might also think that you are listening in for negotiating points. Whenever I have shown a property when the seller is home I notice three differences in my buyers:
  1. The buyers speak in whispers, if at all.
  2. The buyers avoid any displays of emotion.
  3. The buyers cut the showing very short.

     In order for buyers to make an offer, they need to fall in love with your home. They need to get excited about it. They need to discuss their concerns and work through them with their agent, spouse, or family member. And, they need to engage with the property. But they won’t do those things unless you leave.

  • It’s the Industry Standard.  Buyers expect you to leave. ~ If no one ever left their home while buyers looked at it, buyers wouldn’t think twice about a seller being in the home. They would develop workaround strategies to engage with the home. They might get used to taking pictures and discussing them later or bringing a notepad to record their thoughts as they walk through the property. But they’re not prepared to act on such strategies because that simply isn’t the way things are done here in Raleigh. When sellers don’t play by the rules, buyers often chose not to play either.

I understand that there are sometimes extenuating circumstances. Sometimes a handicapped homeowner is unable to leave the home. Or, a special needs child is distressed by continued interruptions to their schedule. These are certainly valid reasons for exceptions to this rule. Sometimes we decide that quality of life is more important than getting the best offer, and that is okay, too.

You want the Best Price for your Home

If you want to get the highest and best offer on your home, and you are physically able to do so, it is in your best financial interests to leave the property during showings. Yes, it’s a pain; especially when there are kids, pets, and unconventional work schedules in the mix. But in the Triangle, if your property is exposed to the market properly, it won’t spend very long on the market. In 2016, 50-60% of resale homes in the Triangle were under contract in less than 30 days.

Do you want to know how much your home is worth? Contact me today for a Market Analysis of your home!

Ready to start the search for your new home? Wake County Real Estate Search

About the Author Ellen Pitts

Ellen is the founder of Harmony Realty, a socially conscious realty company. Ellen believes in empowering her clients through education and open communication. Ellen is a number-cruncher at heart and takes great pleasure in following and analyzing the trends of the housing industry. She loves communicating the big picture to her clients and helping them to understand how the market affects their sale or purchase. Her honest and down-to-earth approach allows her clients to make informed and intelligent decisions to get the most out of their offers and negotiations.

follow me on:

Get The Home Seller's Guidebook

Receive Weekly Seller-focused articles that will guide you through the selling process from beginning to end.

Register Now!

Leave a Comment: