If you’ve decided to sell your lake home, it’s important to understand what buyers do and don’t care about. Thinking like a buyer can help you sell your home quicker. Glenn Phillips, CEO of Lake Homes Realty, discusses five things buyers don’t care about, but many sellers think they do.
- What Seller Paid: While the pricing history can be important, buyers don’t care what you paid for the house. Buyers are concerned with the current market, not about how much you need to get from your house.
- Listed Price of Nearby Homes for Sale: The listing price of nearby houses doesn’t reflect their value. Many of those houses may be overpriced, especially if they’ve been on the market for a while. Buyers are more concerned with what the house is worth than the listing prices of nearby homes.
- Seller’s Personal Effort: Patios, decks, and other features of the house can add value for some buyers. Oftentimes, sellers have emotional attachments to these features; however, buyers don’t always feel the same way. Buyers may want to remove those add-ons and see them only as an additional cost.
- Outlier Sales at High Prices: Just because a nearby house sold for an irregularly high price doesn’t mean yours will too. Buyers understand the trend in prices of the pool of houses in the market, and most won’t pay that irregular price. Outliers generally aren’t repeatable, and buyers will buy at market price.
- Taking Low Offers Personally: Buyers don’t make offers to offend you. Additionally, a low offer is still better than no offer. Not responding to low offers can cut off potentially interested buyers by leaving negotiation off the table.
As a seller or someone who’s thinking of selling your lake home, it’s important to think like the buyer. Considering what the buyer is looking for can help you sell your home quicker and maximize your potential profit. Visit lakehomes.com, where you can find agents who will help you navigate the home-selling process and who understand buyer’s wants and needs.