Don’t put your home on the market until you’ve read the following! Please avoid these eleven mistakes that could cost you hundreds, even thousands of dollars!
Selling you home can be an exhausting experience. Last minute walk throughs, inconvenient calls, price adjustments, and the possibility of being stuck with two mortgages are all real concerns. If you are not completely prepared, you could end up losing hundreds of dollars in profit and equity.
The difference a profitable, smooth transaction and a miserable experience is often a fine line. In a majority of cases, it comes down to the subtle “know how” of your real estate professional. By utilizing the knowledge of a qualified real estate professional, you’ll insure the quick, profitable sale of your home. This is designed to arm you with the knowledge to avoid eleven common mistakes that cost sellers serious money.
- Refusing to Make Profit Inducing Repairs – It always costs you more money to sell “as is” than to make repairs which will increase the value of your home. Often even minor improvement will yield as much as three to five time the repair cost at the time of the 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. Professional real estate agents are experts at home transactions and can lead you down the path to give you the highest yield.
- Provide Easy Access for Showing – Accessibility is a major key to profitability. Appointment only showings are the most restrictive, while a lockbox is the least; however, there are certain considerations to take into account like your lifestyle, time frame for the desired sale, and the relationship with your agent. 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 who couldn’t get the viewing was the one that got away. By developing a trusting relationship with you agent, he or she will show the home with your best interests and security in mind.
- Priced Too Low/Priced Too High – One critical reason to find the right professional is to make sure the property is price appropriately for a timely and profitable 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 subtly nuances and market changes that should be evaluated by your agent every 10 – 14 days to help you maximize your return.
- Relying Solely on Traditional Methods To Sell Your Home – The agent, 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, lead accountability, search engine strategies, and cutting edge web strategies. These services exist and should be offered on your home sale.
- Market Timing/Seasonal Selling – Just as a broker who continually follows the trends of a stock, your professional agent continually follows trends of your home market. They will 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.
- 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 unkept lawns, cluttered rooms, bad stains, unpleasant odors…all the 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 agent’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 online to sell unless you are serious. The right professional will find you buyers. 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.
- Believing All REALTORS are the Same – With all the intricate details and critical decisions to be made concerning your home sale, should you rely on anyone but a top producing professional? Many friends and family members have been estranged from a real estate agent relative as a result of failing to meet expectations. Your home sale is a time-consuming effort related, difficult task. Maximize your profit by utilizing a professional.