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Avoid the following when selling your home!
There are several common mistakes that sellers make on a regular basis.
Overpricing: We cannot stress this enough... pricing pricing pricing. Appropriate pricing is predicated upon the market. If you choose to start "high", thinking you will keep dropping your price if necessary, think again. You will end up "chasing the market" with continuous price drops, unsuccessfully, while other comparable homes that came on the market after yours have already sold, because they started out priced properly.
Choice of Agent: Choose carefully because this is your professional. NOTE: No agent will be able to sell your home if you make mistake number one above. Even if they were able to sell it to a novice buyer, the sale would fall through during the appraisal process. When the appraisal comes in under the selling price, the sale is out the door.
Don't discount the web for marketing: Honestly, how many times a day do you research something online? Exactly! Potential buyers are also utilizing the internet, and if your home is not properly marketed on the web, you will lengthen the selling process considerably, and miss out on potential buyers. Your home absolutely needs online presence!
Hovering: Stop hovering! Really though, if you must be home when a prospective buyer comes calling, do not follow them around. By prospective buyer we mean someone who is looking at this as potentially their home, not your home. The prospective buyer may also wish to have a private discussion with the agent. Remember: these are licensed real estate professionals so we can be reasonably sure they are not going to let someone walk out with any of your belongings ,or damage your home. Bottom Line: It is best if you are not home during a showing.
Letting Comps be your only guide: Comps are great, necessary and extremely helpful, though they are often limited to sold homes. You need to consider comparable homes that are currently on the market. This is your agents job: they have the knowledge of the current and recent market information to guide you in your pricing. Trust your real estate professional. Lets say your home is priced $20,000 above a comparable house in the same market; if you were the buyer which one would you buy?
Source: "Six Common Mistakes That Home Sellers Make" MSNBC.com (April 11,2011)
Overpricing: We cannot stress this enough... pricing pricing pricing. Appropriate pricing is predicated upon the market. If you choose to start "high", thinking you will keep dropping your price if necessary, think again. You will end up "chasing the market" with continuous price drops, unsuccessfully, while other comparable homes that came on the market after yours have already sold, because they started out priced properly.
Choice of Agent: Choose carefully because this is your professional. NOTE: No agent will be able to sell your home if you make mistake number one above. Even if they were able to sell it to a novice buyer, the sale would fall through during the appraisal process. When the appraisal comes in under the selling price, the sale is out the door.
Don't discount the web for marketing: Honestly, how many times a day do you research something online? Exactly! Potential buyers are also utilizing the internet, and if your home is not properly marketed on the web, you will lengthen the selling process considerably, and miss out on potential buyers. Your home absolutely needs online presence!
Hovering: Stop hovering! Really though, if you must be home when a prospective buyer comes calling, do not follow them around. By prospective buyer we mean someone who is looking at this as potentially their home, not your home. The prospective buyer may also wish to have a private discussion with the agent. Remember: these are licensed real estate professionals so we can be reasonably sure they are not going to let someone walk out with any of your belongings ,or damage your home. Bottom Line: It is best if you are not home during a showing.
Letting Comps be your only guide: Comps are great, necessary and extremely helpful, though they are often limited to sold homes. You need to consider comparable homes that are currently on the market. This is your agents job: they have the knowledge of the current and recent market information to guide you in your pricing. Trust your real estate professional. Lets say your home is priced $20,000 above a comparable house in the same market; if you were the buyer which one would you buy?
Source: "Six Common Mistakes That Home Sellers Make" MSNBC.com (April 11,2011)
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