18 Mistakes Most Sellers Make When Putting Their Home on the Market
1.Pricing your home too high: Have a professional determine comparable sales and listing competition. You want top dollar, and you want all the buyers to see your home. Top agents know how to walk that fine line.
2. Small repairs bring big profits and fast sales: Have a professional home inspection done prior to listing. This will give you insight to minor and major repairs that could stall the sale. I can arrange for a professional inspection for my sellers so we are actually selling “pre-inspected properties”, which is another reason why I get more showings for my sellers.
3. Not considering other financing terms (besides cash): Have a professional give you options that may be better than cash for you, the homeowner, and financing options that excite a buyer.
4. Market Timing: Have a professional determine if the market cycle is poised to net you the most money. At least ask to be shown how you make profits in a down market. There are opportunities in good and bad markets.
5. Providing easy access for showings: There are many ways to show a home. Appointment only is the most restrictive; lock boxes are the least restrictive. Have a professional help you determine which is best for your lifestyle.
6. Staging your property correctly:Can you put items in storage? Create more light?I can help you with ideas.
7. Choosing the right REALTOR®: If your home didn’t sell last time, make sure and get it right this time; with someone who knows the market and how to create a customized marketing plan to bring top dollar.
8. Believing that selling property is seasonal: Do not base selling decisions on the seasons. Property is always selling. In fact, in the traditional “off times” there is less inventory; therefore, more activity on individual properties as a result. Outside of July, one of my biggest months for sales and seller success has been December.
9. Pricing their home too low: One reason to hire me is to make sure that no money is left on the table. I will make sure all of the features and benefits are not only brought out in a real world marketing campaign, but also that you get paid for them.
10. Not using current marketing technology: Make sure your agent is on the “Information Highway”, promotional web sites, search engine technology, and the latest in buyer communications.
11. Re?evaluating the marketing plan every 30 days: The market, you, and your property require intuitive changes on a regular basis.
12. Believing the agent is not doing the job: Do you know that 80% of buyer activity comes from signs and the MLS? Even the most mediocre agent can bring these tools. If you lack showings look at your price, terms, pictures and staging.
13. Ignoring first impressions from the buyer: Sales are often hampered by unkempt lawns, cluttered closets, unpainted front doors, hard?to?work locks, dead light bulbs, bad colors, stains, unlit areas, and unusual smells. Spend time on the little things; double up on your gardener, keep things cleaner than usual and “marshal” the pets.
14. Not giving the sales effort enough time: You should never give too little time to something that is inherently a long process. Estimate the time you have to sell and then add some time so that you are never put in the position of having to do something based on deadlines. I can help you with the average time on market in your area in your price range. I do, however, pride myself on beating the average days on market, as published by our Multiple Listing Service.
15. Dealing with unqualified or unsavory characters: One of the best reasons to hire a real estate professional is they have the ability to pre?qualify a prospect before valuable negotiation time is lost. More importantly, they have the tools to discover if a prospect’s motivation to see your home may be other than purchasing a house.I use a team approach in achieving your goals as a seller. One of my team members is a local lender who I will involve in your sale early who will pre-approve every buyer that I show your home to.
16. Believing they are powerless to make a difference: Top agents in the industry report that sellers themselves are responsible for one out of six sales. You can network with your business and personal friends, hand out flyers to your personnel department, and keep the house “ready to move into.” Your professional real estate agent should be ready to hand out all sorts of easy assignments to make the “team effort” successful.
17. Testing the market: Never put your property on the market unless you really want to sell. Get ready for a professional sales effort if you list with a great agent. If your plan includes indecision, be prepared for frustration because top dollar sales success is my objective.
18. Not setting up expectations with their agent: Your agent needs to guarantee how fast the return phone calls are made, how many websites your home will be on, numbers of showings, and a myriad of other goals.