This week we're giving you four mistakes home sellers make! If not avoided, these pitfalls could slow down your listing process and/or ruin a potential deal altogether (and we don't want that!)
#1: Wanting to skip or get ahead of the market.
You want to hurry up and put the house on the market. And that is a major mistake because you only have one chance to make a first impression. Once that impression is made, it sticks with the buyer. So please take the time to clean your property, walk through the property and look at it through the eyes of the buyer. What can you improve? Let’s stage the property, let's do some landscaping, and add some curb appeal. Those are very, very important steps that really will pay dividends at the end.
#2: Want to price the home too high.
We understand that just as a buyer is emotional when they are buying and they want to make a decision as soon as possible, a seller is emotional too because this is your home. You know little Timmy grew up here and you just love your house. And so this house is worth so much money to you. And of course, we're not underestimating the work that the house has to you because it is emotional. It has been your home for many years or for a short amount of time if you made big memories. But for the buyer, they're coming in with no attachments to your house. So, they're going to look at the market data. Especially if they're represented by a professional, the professional will let them know how much they can pay for the house and if it's priced correctly or not.
You don't want to overprice your property because 2 weeks with no showings or 10 showings and no offers means it’s way too high. Get most of your showings during the first two weeks. So some sellers say, “Well, I just want to test the market and I want to put it really high to see if somebody might give me what I want.” Well, you really are putting yourself in an uncomfortable situation because if the property is seen by most people in the first week but you have it overpriced, they're just going to skip you.
By the third, fourth, fifth or any week after that, they don't even want to look at your property even if you lower the price. If you adjust the price, they might come back and look at what the house has. But you will have missed a majority of the buyers or those buyers that were in the market when you first put your house on the market are gone and they selected something else. They already selected your competition. Remember, you're entering a competition so you want to make sure that your house is nice and clean and that you are priced correctly.
#3: Being present for the showings and for the open houses.
Now, as a realtor, I have some stories when it comes to this. And you know, I get the heart of the seller, they feel no one can sell their house
#4: Not working with an experienced realtor.
There are many stages to selling a property from the beginning: making sure
Another thing that a lot of people don't know is about 4% of all transactions fall apart after you have a contract. So then you have this big hurdle, which is getting the house and the contract, making sure you have it priced correctly, making sure that you have all the legal work all of the disclosures, and then now you finally get it under contract and then what happens? Boom. Your sale falls apart. What do you do? That's why you need an experienced professional working for you.
So that's a big mistake that some home sellers make. There are sellers who want to try on their own, and while more power to you and that's okay you can do that, I will suggest that you get a professional. At the end of the day, they should be able to take a lot of the stress away from you.
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