Avoid These Common Selling Mistakes!
Selling your home can be a daunting process! There are many things to consider and some pitfalls to avoid. This article will give you a list of common home selling mistakes that you can easily avoid!
Every seller naturally wants to get the most money for his or her product. This is obvious, but the most common mistake that causes sellers to get less, is the listing is too high. Listings reach the greatest proportion of potential buyers shortly after they reach the market. If a property is dismissed as being overpriced early on, it can result in a later price reduction.
Over-priced properties tend to take an unusually long time to sell. they end up being sold at a lower price than they would have if they had been priced properly in the first place. This is a really difficult thing for people to understand about their property. But unfortunately, the market is the market. There’s nothing you can do about it. There are things you can do to enhance your property to perhaps get you a little bit more than something that didn’t have certain upgrades. But for the most part you really have to listen to what the market is dictating when you’re thinking about price.
Mistake number two, refinance appraisals for market value. Refinance appraisals can be very encouraging for homeowners, leaving them to assume that the appraisal is the amount that they should expect. This is not true, because often a refinance appraisal is higher. If an appraisal is inflated just to get a refi done you are going to have some major issues! You are going to have to rely on a real estate professional to tell you what the actual market value is again.
Failing to showcase, mistake number three. People still do not take this into consideration In spite of how frequently this mistake is addressed! You have to make necessary repairs. Make everything as functioning. I did another video that shows you how to do this. I can point you towards that video, but please, make your property look like a showcase.
Mistake number four, trying to hard sell when showing. You can’t force somebody to purchase something. You’re going to have to basically let them come to the decision that they want the property. Don’t hard sell people!
Trying to sell to lookers. This is one of the reasons why I shy away from open houses. I’m not saying that they never work, but a lot of times open houses will just fill your home with lookers or people who live down the street or what have you. Find a realtor who’s going to work with you, who can tell you how to differentiate the real buyers from the lookers.
Being ignorant of your rights and responsibilities. Again, there’s a lot of legalities involved in selling real estate. If you were to try to sell it for sale by owner, by all means, go ahead and do that, but as a broker, I would never recommend that somebody do that without being aware of what they’re getting themselves into legally.
Signing a contract with no escape. Again, this is a way that a realtor can help you navigating the contract.
Limited marketing, for sale by owners usually put signs up in the front, that’s about it. Maybe they have a website, a for sale by owner website. Realtors know how to saturate the market, so a big mistake would be to be on the market without basically saturating it, being everywhere you could possibly be.
Mistake number nine is choosing the wrong realtor. I will add to this, not using a realtor. Using a realtor can help you in many ways! If you use a good realtor, someone who knows what they’re doing, you will get more for your home, and it will sell more quickly. You can look at a lot of statistics that will indicate that that is true. Take the time to find someone good. Obviously, you want someone who’s experienced, someone who knows what they’re doing, and that would be the biggest mistake that people make in selling their homes.
If you need any more information about selling your home or property, whether it’s residential, commercial, ocean front, river front, condo, town home, anything you are selling in Brevard county, Space Coast area, we’d be happy to discuss at no obligation with you. You can call us anytime at 321-351-1441 or fill out a seller form that’s located on our website!