Five Mistakes Sellers Can Avoid

Five Mistakes Sellers Can Avoid

  1. Believing the real estate marketing hype. The latest is real estate TV. How many people are sitting in front of their TVs watching homes for sale? If the home impresses a few people on TV, will it impress when they visit the home? Heightened expectations often lead to a let-down. On the other hand, exceeding reasonable expectations generates good feelings. Regarding newspaper advertising, research indicates only 3% of people purchased their homes after seeing a print ad! Ask your real estate sales professional to explain what he/she will do to market your home.
  2. Setting your asking price too high. It is tempting to “test the market” to see what kind of offers you get. However, a too-high price will put your home at a disadvantage to others in the same price range. You might get an initial wave of visitors but you likely won’t get the offers. If you later lower your price, you’ve lost market momentum and you risk second thoughts, “Is there something wrong with this property.”
  3. Trusting the imagination of buyers. You may think they can imagine the home being clean, tidy, spacious … even looking like a model home. So, you don’t need to work hard to actually make it clean, tidy, spacious-looking, even looking like a model home. You’re wrong. You want to buyers to imagine themselves enjoying the home, not figuring what they will need to do before they can enjoy it. When other homes for sale stimulate the buyers imagination, they also stimulate the offer.
  4. Thinking the buyers won’t notice. They might not, but the home inspector will, and the majority of offers are conditional on a satisfactory report from a qualified home inspector. If there is something significant to be corrected, you should decide whether to correct it up front. If discovered later, the buyers will either back out of the deal or re-negotiate the price. You don’t win either way.
  5. Choosing your real estate sales representative for the wrong reasons. The highest price promised is no guarantee. The lowest commission may not add up to the most net cash in your pocket. The biggest company name does not mean the best service. It comes down to product, price, and promotion. The product is your home. The price is relative to the market. The promotion depends on the sales rep. Interview two or three, then decide whom you trust to work with you end-to-end—from the first meeting to your moving day! Click SELLING Your Home on the menubar above.
Charles Young

Charles Young

Sales Representative
CENTURY 21 Innovative Realty Inc., Brokerage*
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