Common Selling Mistakes You Do Not Want To Make:
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.
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