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 When selling a home, everyone wants to get top dollar. However, some sellers mistakenly believe that they can price their homes as high as the best properties on the market, assuming buyers will pay the price. This is not the case, especially in the current real estate market in Southeast Tennessee. It is not 2021 again. Overpricing a home can hinder the seller from receiving the highest possible price. I've encountered many homes that are not move-in ready, yet the sellers expect to fetch top dollar by listing at the same price as homes in better condition. This approach often results in homes languishing on the market for months. The key question is: Why do these homes struggle to sell especially when there are viable buyers out there ready to buy?

Here are some things that may NOT help you sell your home for top dollar:
 

1. Poor condition: Homes that are in disrepair, have significant maintenance issues, or are outdated may not command top dollar in the market. Buyers are often willing to pay more for a home that is well-maintained and move-in ready.
 

2. Unpleasant odors: Strong odors from pets, smoking, cooking, or mold can be a major turn-off for potential buyers. It is important to address any odors in your home before putting it on the market.
 

3. Overpricing: Setting the price of your home too high can deter potential buyers and lead to your home sitting on the market for an extended period. It is important to price your home competitively based on market conditions and comparable sales in the area.
 

4. Poor curb appeal: The exterior of your home is the first thing that potential buyers will see, so it is important to make a good first impression. A lack of curb appeal, such as overgrown landscaping, peeling paint, or a poorly maintained exterior, can make it harder to sell your home for top dollar.

5. Backyard appeal: When evaluating your backyard, consider its size and characteristics. Is it flat, private, or scenic? Older buyers prefer walking out of their back door onto a patio without stairs. Younger buyers prioritize a larger yard for children to play and are more accepting of stairs. Both age groups value a fenced-in yard for pets, children, or grandchildren.

6. Limited or awkward layout: Homes with awkward layouts or poor flow may deter buyers. Open floor plans and functional layouts are preferred and can increase your home’s value. Older homes with segmented rooms can be less appealing as the kitchen and living areas lack cohesion. Smaller homes trying to mimic open layouts may feel cramped to buyers. Lack of natural light is a major drawback that can turn buyers away. Enhance your home by maximizing natural light to create a more inviting space.

It's important to take note that Not having a master bedroom on the main level can affect buyer appeal and could potentially risk you reducing the selling price. Having a second bedroom on the main floor additionally increases buyer appeal, especially if it can be easily converted into an office or nursery.
 

7. Lack of updates or modern features: Homes that have not been updated or lack modern features may not sell for top dollar. Features such as updated kitchens and bathrooms, energy-efficient appliances, and smart home technology can help increase the value of your home.

8: Design trends: Trending design including light fixtures, facet fixtures, countertops, and paint color bring greater appeal than an outdated interior.
 

9. Location: The location of your home can have a significant impact on its selling price. Factors such as proximity to amenities, schools, public transportation, noise levels, and road traffic can all affect the desirability of your home and its selling price.
 

By understanding these factors and making necessary improvements, you can help increase the chances of selling your home for top dollar in the real estate market. Contact me for expert assistance in achieving your selling goals.

Written by Deborah Lubell, March 9, 2024