5 Mistakes Sellers Make That Cost Them Thousands

After 15 years working in luxury real estate, I've seen sellers make the same mistakes repeatedly — mistakes that cost them time, money, and in some cases the sale entirely. Here are the five most common ones, and what to do instead. Overpricing from the start — The luxury market is highly sensitive to pricing. Overpricing a property in the hope of negotiating down rarely works at the top end — it simply deters serious buyers and causes the property to sit on the market, which creates its own negative perception. Accurate pricing from day one is almost always the better strategy. Poor quality photography — First impressions in the luxury market are everything, and those first impressions now happen online. Low-quality photography — even of extraordinary properties — kills interest before it begins. Professional architectural photography is not optional at this level. Neglecting presentation — A property that hasn't been properly prepared for sale will always underperform. This doesn't necessarily mean a full renovation — but it does mean decluttering, fresh paint where needed, professional cleaning, and staging key rooms. Choosing the wrong agent — The agent you choose will have a greater impact on your outcome than almost any other decision you make. Choose an agent based on their track record in your specific market and price bracket — not their fees. Impatience during negotiation — Luxury property sales often take longer than standard market sales. Sellers who become impatient and accept early low offers — particularly in slower markets — frequently leave significant money on the table. Trust the process and let your agent manage the timeline.