Common Seller Mistakes

COMMON ERRORS WHEN SELLING A PROPERTY

ERROR #1: IMPROPER PRICE
Have your Realtor do a CMA (Comparative Market Analysis). This will provide you with accurate, timely information on properties recently sold, and those currently on the market (your competition). We constantly hear: "My neighbor is asking X, and I have new carpet, so I should sell for 2X." Unfortunately, the neighbor may not be priced correctly. Now there are 2 homes on the block that are overpriced and not going to sell! As your Agent, our goal is to get you the best sale price and terms. Pricing your property too high can have a negative effect. That is, if a property is on the market too long it is overlooked and/or considered undesirable. If you have decided to sell, price the property properly (with the help of your Agent) and you will achieve your goal more effectively.

ERROR #2: FOR SALE BY OWNER
There are occasions when a lay person can successfully complete a real estate sale without professional help. However, it is not advised. The many pitfalls of trying to sell your own property include: improper pricing, wasting time showing the property to unqualified Buyers or "tire-kickers", wasted advertising dollars, allowing personal feelings to affect the negotiations, and most importantly, legal ramifications.
Someone once told me: "I don't pull my own teeth and I don't sell my own house. They're both too complicated and too painful!" In today's business and social climate, it only makes sense to hire a Realtor to handle all of the tasks associated with closing a real estate transaction.

ERROR #3: LACK OF PREPARATION
Ever notice how shiny and clean cars appear at the dealership?
Unless you are selling a "fixer-upper", you want your home to show it's very best from the street all the way through! Take the time and make the effort to prepare your property to be marketed for sale to the public. Prepare the property BEFORE placing it on the market. Look at: Repairs, maintenance, cosmetic improvements, cleaning, and organizing.
Don't let a potential Buyer offer you less BECAUSE......................

ERROR #4: THE FIRST OFFER MAY BE YOUR BEST OFFER
As real estate professionals, we have a data base of potential Buyers. When a property is listed for sale, we contact the Buyers whose needs match that home. Consequently, a Seller may be presented with an acceptable offer quickly. A common mistake is to turn it down ONLY because the home hasn't been on the market very long. Once the Realtors in that area have exhausted there pool of suitable Buyers, it may take months before another offer comes along.

Thursday 28th of August 2008 03:38:03 PM