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10 COMMON SELLING MISTAKES YOU DO NOT WANT TO MAKE!
Don’t put your home on the market until you’ve read this report!
Avoid 10 mistakes that could cost you thousands of dollars.
Selling your home can be an exhausting experience. Last minute walk-throughs inconvenient calls, price adjustment and the possibility of being stuck with two mortgages to pay at one time are real concerns. If you are not completely prepared, you could end up losing hundreds, or even thousands of dollars.
The difference between a profitable, smooth transaction and a break-even is a miserable experience and often a fine line. In the majority of cases, it comes down to the subtle know how of your profession. By utilizing the knowledge of a qualified professional, you’ll ensure the quick, profitable sale of your home. This report is designed to arm you with the knowledge to avoid common mistakes that cost sellers serious money.
Mistake #1 — Pricing Your Property Too High
Every seller obviously wants to get the most money for his or her product. Ironically, the best way to do this is NOT to list your product at an excessively high price! A high listing price will cause some prospective buyers to lose interest before even seeing your property. Also, it may lead other buyers to expect more than what you have to offer. As a result, overpriced properties tend to take an unusually long time to sell, and they end up being sold at a lower price.
Mistake #2 — Mistaking Re-finance Appraisals for the Market Value
Unfortunately, a re-finance appraisal may have been stated at an untruthfully high price. Often, lenders estimate the value of your property to be higher than it actually is in order to encourage re-financing. The market value of your home could actually be lower. Your best bet is to ask your REALTOR® for the most recent information regarding property sales in your community. This will give you an up-to-date and factually accurate estimate of your property value.
Mistake #3 — Forgetting to “Showcase Your Home”
In spite of how frequently this mistake is addressed and how simple it is to avoid, its prevalence is still widespread. When attempting to sell your home to prospective buyers, do not forget to make your home look as pleasant as possible. Make necessary repairs. Clean. Make sure everything functions and looks presentable. A poorly kept home in need of repairs will surely lower the selling price of your property and will even turn away some buyers.
Mistake #4 — Refusing to Make Profit Inducing Repairs
It always costs you more money to sell “as is” than it does to make repairs that will increase the value of your home. Often, the minor improvements will yield as much as 3 to 5 times the repair cost at the time of the sale. Your agent will be able to point out what repairs will ignificantly increase the value of your home. Seemingly small fix-up jobs can have a huge impact.
Mistake #5 — Provide Easy Access for Showings Accessibility is a major key to profitability
Appointment only showings are the most restrictive, while a lock box is the least. The more accessible your home is for potential buyers to see, the better the odds are of finding a person to pay the price you’re asking for the home. You never know if the one that couldn’t get a viewing was the one that got away! By having a tool that alerts you to an interested prospect, you will be able to provide a comfortable time to view the home.
Mistake #6 — Trying to “Hard Sell” While Showing
Buying a house is always an emotional and difficult decision. As a result, you should try to allow prospective buyers to comfortably examine your property. Don’t try haggling or forcefully selling. Instead, be friendly and hospitable. A good idea would be to point out any subtle amenities and be receptive to questions.
Mistake #7 — Trying to Sell to “Looky-Loos”
A prospective buyer who shows interest because of a “for sale” sign he saw may not really be interested in your property. Often buyers who do not come through a REALTOR® are a good 6-9 months away from buying, and they are more interested in seeing what is out there than in actually making a purchase.
They may still have to sell their house, or may not be able to afford a house yet. They may still even be unsure as to whether or not they want to relocate. Your REALTOR® should be able to distinguish realistic potential buyers from mere lookers. REALTOR®s should usually find out a prospective buyer’s savings, credit rating, and purchasing power in general.
If your REALTOR® fails to find out this pertinent information, you should do some investigating and questioning on your own. This will help you avoid wasting valuable time marketing towards the wrong people. If you have to do this work yourself, consider finding a new REALTOR®.
Mistake #8 — Not Knowing Your Rights & Responsibilities
It is extremely important that you are well-informed of the details in your real estate contract. Real Estate contracts are legally binding documents, and they can often be complex and confusing. Not being aware of the terms in your contract could cost you thousands for repairs and inspections. 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 will affect your transaction? Not knowing the answers to these kind of questions could end up costing you a considerable amount of money.
Mistake #9 — Limiting the Marketing and Advertising of the Property
Your REALTOR® should employ a wide variety of marketing techniques. Your REALTOR® should also be committed to selling your property; he or she should be available for every hone call from a prospective buyer. Most calls are received, and open houses are scheduled, during business hours, so make sure that your REALTOR® is working on selling your home during these hours.
Chances are that you have a job, too, so you may not be able to get in touch with many potential buyers. As the seller, you should demand aroundthe-clock advertising exposure, innovative lead generation methods, and lead accountability and follow up. These services exist and should be offered to you to assist you in selling your home.
Mistake #10 — Believing You Are Powerless to Make a Difference
Be part of the team! Take an active role in doing what you can to facilitate the sale of your home. Networking with your peers and professional associates can often result in the sale of the home. It’s surprising how many homes are sold this way.
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