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SEVEN COMMON MISTAKES THAT SELLERS MAKE

PRICING INCORRECTLY.

Every seller wants to realize as much money as possible when (s)he sells her/his home. But a listing price that is too high often gets the seller less than a list price that is at market value. If your house is not priced competitively, people looking in your price range will reject your home in favor of other, larger homes for the same price. At the same time, the people who should be looking at your home will not see it because it is priced over their heads! Overpricing usually increases time on the market, which makes a property go stale. Ultimately, most overpriced properties sell below their market value. To avoid this, choose a Realtor who will prepare an extensive Market Evaluation.

FAILING TO "SHOWCASE" THE HOME.

Buyers look for homes, not houses, and they buy the home in which they would like to live. This is why staging your home for marketing is so important. You need an objective Realtor’s eye, starting right at the front door to recommend the necessary changes needed to get top dollar!

Using the ´´Hard Sell´´ during showings.

Buying a house is an emotional decision. People like to “try on” a house and see if it is comfortable for them. It’s difficult to do that if you follow the buyer around pointing out every improvement that was made. It may even have the opposite effect, by making a buyer feel he is intruding on your private space. Sellers should resist the temptation to talk to a buyer. If you feel the showing agent is doing an inadequate job, I can add tasteful signs to point out hidden amenities that are missed.

USING THE "HARD SELL" DURING SHOWINGS

Buying a house is an emotional decision. People like to “try on” a house and see if it is comfortable for them. It’s difficult to do that if you follow the buyer around pointing out every improvement that was made. It may even have the opposite effect, by making a buyer feel he is intruding on your private space. Sellers should resist the temptation to talk to a buyer. If you feel the showing agent is doing an inadequate job, I can add tasteful signs to point out hidden amenities that are missed.

MISTAKING LOOKERS FOR BUYERS.

For Sale by Owners always get more activity than homes listed with an agent. Realtors will only bring qualified buyers, and these will be fewer than if you open your front door to every one who walks down the street. A qualified buyer is one who is ready, willing, and able to buy your home today. Most people who go looking at For Sale By Owners are just starting to think about moving. They may be good buyers, but they’re just six to nine months away from being ready (or willing, or able). They don’t want to bother an agent yet, so they call the “By Owner” ads to get a feel for what’s available. They may have a home to sell first, or may need to save more, or may have credit that needs fixing. When everything is in place, they go out looking with a Realtor. A good agent will ask a buyer how much he can really spend for a house, what he has to put down, how good his credit is, how much he can pay each month, what he will realize (realistically) when he sells his present home and about a dozen other questions. All these questions must be asked before the buyer crosses your threshold, otherwise, you may have a parade of Sunday afternoon shoppers with a dream of owning a home someday.

NOT KNOWING YOUR RIGHTS AND OBLIGATIONS.

Selling real estate is involved and complex. The offer to purchase is a legally binding document. A poorly written offer can cause the sale to fall through, or could cost you thousands in inspections and repairs. Additionally, the buyer must be properly educated with reasonable expectations set regarding his responsibility once defects are uncovered. Other issues such as the lead paint law, radon gas, asbestos, etc., all need to be thoroughly understood.

LIMITING THE MARKETING AND EXPOSURE OF THE PROPERTY.

The two most obvious marketing tools (open houses and classified ads) are only moderately effective. Surprisingly, less than 10% of homes are sold at an open house. Agents use them primarily to attract future clients, not to sell the house.

Advertising studies show that less than 3% of people purchase their home because they called on an ad. And if a machine answers, most callers just hang up without leaving a message. A Realtor can employ a broad spectrum of marketing activities, emphasizing the ones he believes will work best for you and your particular property. There are dozens of more effective ways to find buyers than just open houses and advertising.

CHOOSING THE WRONG REALTOR, OR CHOOSING HIM/HER FOR THE WRONG REASONS.

The quality of the home selling experience is dependent upon one’s skill at selecting the person best qualified. As a former practicing lawyer turned real estate agent with 20+ years of experience in every type of negotiation imaginable, I’m anxious to put my additional negotiating knowledge to work for you.

To learn more about me, email me at Don@DonSellsHomes.com or call anytime at 339-927-2759.