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7 Costly Selling Mistakes
Reasons to List Your Home with Us!
Choosing The Wrong REALTORŪ
In Real Estate, a REALTORŪ with experience and many closed
transactions costs the same as someone who is inexperienced. The
sale of your home is the most important financial transaction you
will be involved in. A contract for the sale of Real Estate is a
legally binding document. An improperly written contract can cause
the sale to fall through, or cost you money for repairs and
inspections. It can even allow the purchaser to void the sale. You
need an experienced REALTORŪ who knows the ins and outs fully to
explain the contract you are about to sign. You also want an honest
Realtor, not one who is "buying" your listing! And you want a
REALTORŪ who has a complete marketing strategy for your home, not
just one who puts it in the computer and "waits" for it to sell. The
person you select can make it a satisfying and profitable experience
or a nightmare. The choice is yours!
Incorrect List Price
If your home is not priced competitively, buyers will reject it in
favor of other larger homes for the same price. At the same time,
the buyers who should be looking at your house will not see it
because it is priced over their heads. The result is increased
market time, and even when the price is eventually lowered, the
buyers are wary because "nobody wants to buy a house that nobody
else wants" Over pricing also adds to the carrying costs.
Failing To Showcase The Home
A property that is not clean or well maintained is a red flag for
the buyer. Buyers look for homes, not houses. They buy the home that
they would like to live in. An owner who doesn't make necessary
repairs, who doesn't spruce up the house, and fails to keep it
clean, is a red flag for the buyer. Buyers are poor judges of the
cost of repairs, and always build in a large margin for error when
offering on such a property. Over-Improving The Home Prior To
Selling
Sellers often unwittingly spend thousands of dollars doing the wrong
upgrades to their homes prior to attempting to sell in the mistaken
belief that they will recoup this cost. If you are upgrading your
home for your personal enjoyment - fine. But if you are thinking of
selling, you should be aware that only certain upgrades are cost
effective. Consult with us BEFORE committing to upgrading your home.
Failure To Take The First Offer Seriously
Often sellers believe that the first offer received will be the
first of many. Sometimes the seller wants to hold out for a higher
price. This can be especially true if the offer comes in right after
the home goes on the market. Experience often shows that the first
offer can be the best offer. Sometimes an experienced buyer is
waiting in the wings for a house. They might have lost a bid on
another house, know that your home is priced right, or just luck.
The home is most saleable in the beginning of the marketing period
while it is the "new house on the market". You may end up "settling"
for less later!
Not Knowing The Difference Between Lookers And Buyers
For Sale By Owners sometimes get more activity than houses listed
with a REALTORŪ. REALTORSŪ bring only qualified buyers, and these
will be fewer than if you open your doors to everyone who walks down
the street. A qualified buyer is one who is ready, willing and able
to buy your house. We find that most people who go looking at For
Sale By Owners are just starting to think about moving. They may be
good buyers some day. They don't want to bother an agent yet, so
they call the By Owner ads to get a feel for what's available. They
may have a house to sell first, or may need to save some more money,
or even have credit problems. An agent will qualify a buyer and have
them pre approved by a lender.
Signing a Listing Agreement With No Way Out
Sometimes circumstances change. A job might not have gone through,
sickness, or a potential divorce situation which is reconciled after
the listing is signed. In these cases, you deserve the right to
cancel your listing agreement. Always protect yourself, by reserving
the right to cancel the listing.
Article by Diann E. Tonnesen, RealtorŪ
Las Vegas Real Estate
Las Vegas Condos
Las Vegas Country Clubs
Henderson Nevada Real Estate
This article is copy write protected and may only be reprinted with
permission of the author. Any use of this article without express
written permission of the author will be prosecuted to the fullest
extent allowed by law.
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