Home Seller Mistakes:
Mistake #1: Basing the asking price on needs or emotions, rather than the true market value.
Many times a seller will base the list price on what they paid or invested into the property. This can be an expensive mistake. Overpriced homes take longer to sell, and eventually net the seller less money. Consult a professional Real Estate Agent, they can assist you in pricing your home correctly from the beginning. Mistake #2: Failing to "Show Case" their home.
First impressions are the most important. Experience shows that for every $100 in repairs your home needs, a buyer will deduct between $300-$500 from their offer. Thoroughly clean and prepare your home before putting it on the market - if you want top dollar, and to sell it quickly. Mistake #3: Failing to take the first offer seriously.
Many sellers believe that the first offer received will be one of many to come, hoping to hold out for a higher price, especially if the offer comes in soon after the home is listed. Often the first offer ends up being the best buyer, and many sellers have had to accept far less money than the initial offer much later in the selling process. Homes are most saleable early in the marketing period. Mistake #4: Choosing the wrong agent, the wrong company or choosing them for the wrong reasons.
Many homeowners list their home with the agent who suggests the highest price. This is wrong! You need to list your home with the agent and company with the best marketing plan (one that includes massive internet advertising) and track record to sell your home. Make certain they show you comparables and how your home stacks up with recent sales. Mistake #5: Not knowing all of their legal rights and obligations.
Real Estate law is complex. The contract that you will sign when selling your home is legally binding. Small items that are neglected in a contract can wind up costing you thousands of $'s. You need to work with knowledgeable professionals who understand the "ins and outs" of your Real Estate transaction. |