10 Mistakes Maine Home Sellers Should Stop Making

Maine real estate is a hot commodity right now. Since the pandemic, it has become one of the most desirable places to live. That, along with other factors, has caused inventory here in Maine to be low. This has driven up home prices, allowing some sellers to get much more than they ever imagined.

However, for many people selling their homes, it’s easy to adopt the mindset that their home is valuable no matter what. That has also given many sellers the idea that they can list their home above market value and neglect other important factors that could ultimately cost them thousands of dollars.

Yes, inventory in Maine remains low and there are hungry buyers willing to pay top dollar for a home, but that doesn’t mean they’re afraid to pass on yours. Selling a home can be a complex process, so I’ve compiled a list of 10 common mistakes sellers often make.

Overvaluing housing
Setting the price too high, even in the Maine real estate market we’re in, can scare away potential buyers. There are many homes on the market that have been there for months, some even with price reductions, so it’s important to realistically price the home based on comparable properties in the area.

Neglecting necessary repairs
Aesthetics and upgrades are usually not very important, but buyers will notice if a home needs repairs. Neglecting maintenance can result in lower offers or losing potential buyers altogether.

Bad staging
Walking into a cluttered, dirty, smelly, or poorly presented home can turn off buyers. I always recommend taking the time to clean, declutter, and present your home to attract the most buyers.

Bad photos
Most buyers start their search online, so high-quality photos are key. Photos that look like they were taken with a flip phone from 2004 may generate less interest and fewer views.

Ignoring the curb appeal
First impressions are very important. Yes, Maine is an attractive place to live, but even if your home is beautiful on the inside, the yard is the first thing buyers see, so neglecting the exterior of the home can discourage them from even entering.

Be present during the exhibitions
These days many people are working from home so sometimes this is unavoidable, but if possible sellers should vacate the premises for viewings as buyers may feel uncomfortable or rushed if the seller is present during viewings.

Do not reveal problems
Is the roof about to collapse? Is there water damage? Buyers are aware of Maine’s harsh winters and recent storms, and that honesty is the best policy. Failing to disclose known problems can lead to a loss of trust and, worse, legal problems.

Not being flexible with displays
Sometimes this is unavoidable, but limiting viewing times can reduce the number of potential buyers who see your home. Being flexible will increase your chances of selling quickly.

How to choose the wrong real estate agent
An experienced and knowledgeable agent can make a big difference. Choose an agent with a good track record in the area and with whom you feel comfortable.

Not preparing for inspections
This isn’t always the case, but most buyers will require an inspection. It’s highly recommended to prepare for this and address potential issues in advance, as it can make the process easier.

These are some of the most common mistakes. Understandably, some of them can’t be avoided, but it’s best to follow this list to sell your home as quickly and for the most money. If you have any questions about the home buying or selling process, you can reach out to me here. I’m always happy to help.