This information is designed to arm you with the knowledge to avoid "11 Common Mistakes" that cost Sellers serious money. Even though all the material might not be applicable, we believe it will help you immeasurably.
Refusing to Make Profit Inducing Repairs. It always costs you more money to sell "as is" than to make the repairs. It will increase the value of your home. Often even minor improvements will yield as much as three to five times the repair cost at time of sale. Your agent will be able to point out what repairs will significantly increase the value of your home. Seemingly small fix up jobs can have quite an impact.
Not Considering Other Financing Terms. Cash is always the most advantageous transaction. Income level, tax benefits and current legislation are all critical factors when considering purchase terms.
Provide Easy Access for Showings. Accessibility is a major key to profitability. "Appointment Only" showings are most restrictive, while a lockbox is the least. However there are certain considerations to take into account... your lifestyle, timeframe for the desired sale and the relationship with your REALTOR®. The more accessible your home, the better the odds of finding a person willing to pay your asking price. You never know if the one that did not get a viewing was the one that got away. By developing a trusting relationship with your REALTOR®, he/she will show the home with your best interest in mind.
Priced Too Low or Priced Too High. One reason to find the right professional is to make sure the property is priced appropriately for a timely sale. If the property is priced too high, it will sit and develop the identity of a problem property. If it's priced too low, it could cost you considerable profits. The real estate market has subtle nuances and market changes should be evaluated by your REALTOR® to help maximize your return.
Relying Solely on Traditional Methods to Sell Your Home. The REALTOR® who is innovative and willing to offer new strategies of attracting homebuyers will always outperform agents who rely on traditional methods. Demand around the clock advertising exposure, innovative lead generation methods and cutting edge Internet strategies. These services exist and should be offered on your home sale.
Market Timing and Seasonal Selling. Just as a stock broker continually follows trends of the stock market, your professional agent continually follows trends of your home market. They know if the market cycle is poised to net you the most money. Disregard believing property sales are seasonal... "Sells better in Spring than Winter"... property is always selling. Although you may not be aware of it, many of the properties that were listed in the Multiple Listing Service at the same time you decided to place your property on the market have received offers.
Refusing to Make Cosmetic Changes. The prospective homebuyer's first impression is the most important. An unbelievable amount of home sales have been lost to unkempt lawns, cluttered rooms, bad stains, unpleasant odors... all seemingly little things. Imagine you were the homebuyer and cleaned your place from top to bottom... military style.
Wasting Time with an Unqualified Prospect. Your REALTOR'S® responsibility is to screen a prospect's qualification before valuable time is lost. Be sure to align yourself with the right professional and eliminate negotiating with unqualified prospects.
Don't Test the Market. Never put your property on line to sell unless you are serious. The right Professional will find you buyers and if you are harboring indecision... you will slow the sale.
Believing You are Powerless to Make a Difference. Be part of the team! Take an active role with your agent to see what you can do to facilitate your sale. Networking with professional peers and personal friends often results in the sale of a home. It’s surprising how many homes are sold this way.
