avoid these mistakes 3 mistakes to avoid when selling. your real estate resource. avoid these...
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3 MISTAKES TO AVOID WHEN SELLING
Your Real Estate Resource
Avoid these mistakes
Mistake #1: Rushing To The Market: Pressure from agents who may just want to get a listing, can scare sell- ers into putting a home on the mar- ket before it’s ready. It’s cliché, but there really is only one opportunity to make a first impression. If there are improvements that need to be made to eliminate any concerns from po- tential buyers, make them BEFORE you have a contract and subsequent inspections. When a buyer has a long list of questions and concerns about your property they will feel like they need to negotiate a lower price. Elim- inate their questions and sell quicker for more money.
Mistake #3: Utilizing An Ineffective Marketing Approach: The #1 ques- tion today’s seller wants answered is “How Will You Market My Property?”. In most cases, the seller is actually ask- ing “How will you make sure every- one knows it’s available; how will you create exposure?” Ask any seller who hasn’t sold over a period of months what kept it from selling and they will tell you “it wasn’t marketed”. The in- teresting thing is, it’s more difficult to limit a properties exposure than it is to generate exposure considering how prevalent information is on the inter- net now. If we can assume that a listed property is EVERYWHERE ONLINE, the real question that needs to be an- swered by your agent is: “How are you going to identify the type of buyer that is motivated to buy my home, and how can we present my home to them as the best value so they make an offer?”
Mistake #2: Pricing Outside The Range Where You Can Expect An Offer: Sellers and Agents often make the mistake of trying to predict exactly what the home is going to sell for. As a seller, you need to know the range in which similar homes have sold so that you understand the value and can determine if it works for your plans. However, no one knows what a buyer is willing to pay until you get an offer. The # 1 goal in pricing should be to deter- mine what is the highest price I can list at and expect to receive an offer. Once the offer comes in, the list price is ir- relevant because buyer and seller then begin a negotiation. Pricing mistakes in today’s market can cost sellers by potentially leaving money on the table (underpricing) or by taking too long to sell (opportunity cost on the next pur- chase).
RUSHING TO THE MARKET01 INEFFECTIVEMARKETING0302 PRICING OUTSIDEEXPECTATIONS
The 3 Most Common Mistakes That Cause Your Home To Sit While Oth- ers Sell. Even in a HOT market you see them: Homes that have been on the market for months without a contract. Selling a property is often the first step of a process that may include a reloca- tion, job transfer, or simply moving up to a larger home in the same area. If you’re like most sellers in our market today, you don’t have to sell, but you also don’t list your property with the goal of letting it sit for months with- out an offer. Avoiding the most com- mon mistakes in selling property will allow you to sell sooner, often for more money, while your competition won- ders what is going on in the market.