Seven Common Seller Mistakes:
1) Pricing Your Property Too High
If you list your property too high you will lose prospective
buyers before they even look at your house. You will also
attract buyers who will expect more than you have to offer when
they come to see your house. The bottom line is that your
property will sit on the market longer and end up selling at a
lower price. Every seller obviously wants to get the most money
for his or her home, but the best way to do that is to list your
home fairly and not at an excessively high price! Also, in a
declining market if you price your home too high then as the
market drops your home price will always be behind the curve so
not only will you not be able to sell your home but you will
lose thousands of dollars.
2) Using a Re-finance Appraisal for the Market Value
Re-finance appraisals can often be over stated. Sometimes
lenders have estimated the value of your property to be higher
than it actually is in order to encourage
re-financing. It is best to ask your REALTOR® for the most
recent information
regarding property sales in your community. The market value of
your home could be lower than the appraised value. The market
value will tell you what you reasonably could expect to get for
your home. The market value is what a willing buyer and a
willing seller agree to on price. If your home appraised for
$300,000 but the most you could sell it for is $280,000 than
$280,000 is the true market value of your home.
3) Not Staging Your Home
Make sure your home is in the best possible shape inside and
out. A poorly kept home in need of repairs will sell for a lower
price and even turn some buyers away. Click here for helpful
tips on staging your home.
4) Trying to "Hard Sell" While Showing
Buyers should feel comfortable when looking at your home. Be
careful not to badger them or trying to force them to buy.
Instead, be friendly and hospitable. A good idea would be to
point out any subtle amenities and be receptive to questions.
Buying a home is an emotional experience and often requires a
difficult decision.
5) Trying to Sell to People not ready to Buy
People will approach your property when they see a “for sale”
sign. They generally may not be prospective buyers at all. They
are most likely curious as to what homes are going for rather
than purchasing a home now. They may be just starting to
consider selling their home. Your REALTOR® should be able to
distinguish realistic potential buyers from mere lookers. Your
REALTOR® should usually find out a prospective buyer's savings,
credit rating, and purchasing power in general. This will help
you avoid wasting valuable time marketing towards the wrong
people.
6) Not Knowing Your Rights & Responsibilities
While real estate contracts can be complex it is very important
that you are well-informed in the details. Know what you are
responsible for before signing the contract. Can the property be
sold "as is"? How will deed restrictions and local zoning laws
affect your transaction? Not knowing the answers to these kinds
of questions could end up costing you a considerable amounts of
money.
7) Limiting the Marketing and Advertising of the Property
Your REALTOR® should employ a wide variety of marketing
techniques and be committed to selling your property. He/she
need to advertise your home in the most favorable conditions and
be available for every phone call from a prospective buyer.
| Add This Page To Your Reading List: |
 |
|
