Home : Blogs : Kevin & Monica Ray, Missoula, Superior & Western Montana Real Estate Specialists : Kevin & Monica's Missoula, Superior, St. Regis, & Alberton Montana MT Real Estate Blog

5 Surefire Ways To Lose Your Buyer - Common Seller Mistakes

In today's real estate market, buyers can be few and far between. Once you get a buyer who is interested in your home, don't risk losing the opportunity to sell by making some of these common seller mistakes:

1. Get Insulted By an Offer: You may receive an offer that is below your asking price, or may be even significantly below your asking price. Don't take offense. The buyer liked your home enough to put in an offer, so take that as a compliment. An offer is just that, an offer. It is not set in stone. It is however a great place to start a negotiation. Instead of wasting time at being offended, be proactive and work with your real estate agent to review the offer with an open mind, and if necessary, prepare a workable counter offer.

2. Be Unprepared for an Offer: When a home doesn't sell immediately, sellers can fall victim to worry and concern that their home may not sell. When an offer comes in, it may seem like it comes out-of-the-blue. Just because it's close to the holidays or there's snow on the ground or the market's slow doesn't mean that your home won't sell. You need to be prepared to respond to an offer during the entire listing period, and also be prepared to make a decision about the offer in a short amount of time.

3. Not Have a Moving Plan in Place: If you are trying to sell your home, you should start thinking about a moving plan, including how long it will take you to move out once an offer is accepted. This sounds like a no-brainer, but moving can be stressful and if you aren't prepared, it can be overwhelming. The sooner you start planning for the move, the better. Be proactive. Start packing items that you don't use very often, start decluttering, have a garage sale or donate unwanted items to charity.

4. Be Inflexible: While it is possible that you will be able to sell your home for the exact price and terms that you desire, it is not always possible. You need to have an open mind when working with buyers and be willing to be flexible in some areas. For instance, the buyer may request that the hot tub be included in the sales price. As a seller, you need to be prepared to decide if certain requests are worth losing the deal over. And if you decide not to negotiate on certain points, you need to be prepared to lose the buyer. If you're ok with losing the buyer, then take a stand, but realize that once a buyer leaves, he may not come back.

5. Not Being Prepared for an Inspection: The vast majority of offers today will come with an inspection contingency. This allows the buyer to hire a professional to inspect your home before they purchase it. The inspector will provide the buyer a report of anything they find wrong with your home. If you are aware of anything that needs to be fixed, correct the problem.

Posted by Kevin & Monica Ray, Missoula, Superior & Western Montana Real Estate Specialists on 01/17/2008 12:07 AM

Comments (10)

seller, buyer, tips, offer, inspection, moving, plan, mistakes, market, negotiate

Post is included in group: Global Community

10 Comments on 5 Surefire Ways To Lose Your Buyer - Common Seller Mistakes

Great advice. Good luck finding and keeping your buyers!!

01/17/2008 12:10 AM

by Ahwatukee Real Estate Expert, Dawn Workman, MBA (DPR Realty, LLC)

This is great advice for our sellers today. Keep an open mind and when an offer comes in, remember, there are negotiations involved. Don't be offended, it's an offer!

01/17/2008 12:20 AM

by Jen Hudson - Stanwood, Camano & Arlington,WA (RE/MAX Signature)

Hi Monica: Sometimes the seller is caught off guard when an offer comes in right after the home is listed. This is really the best time for an offer to come in, but sometimes the seller thinks that if they got one quick offer, that others will probably follow... so they either come back with a full price counter, or do something else to scare the buyer away. Not a good plan.

01/17/2008 12:25 AM

by Fort Worth Real Estate - - - Karen Anne Stone (RE/MAX Trinity)

Hi Dawn & Jen - thank you for your comments. I agree Jen - an offer is just a starting point to a negotiation.

Karen - I agree, I've seen that happen more than once. We've started to really focus on seller education as soon as the property is listed to prevent these faux pas.

01/17/2008 12:29 AM

by Kevin & Monica Ray, Missoula, Superior & Western Montana Real Estate Specialists (Streamside Realty )

Too often emotional attachment, pride & just plain stubborness get in the way. Everyone has to remember why they are where they are & that this is just a business transaction.

01/17/2008 01:20 AM

by Peter Testa (Nationwide Houses)

Kevin and Monica,

Our jobs today are certainly more difficult. We have to be the voice of reason today more than ever.

01/17/2008 09:29 AM

by Dan Brudnok - Realtor, e-PRO, ABR, CSP - Chester County RE Professional (Keller Williams - Exton - PA License Number #RS225179L )

Hi Peter - you're exactly right.

Cheryl - great to hear from you!

01/17/2008 09:30 AM

by Kevin & Monica Ray, Missoula, Superior & Western Montana Real Estate Specialists (Streamside Realty )

Kevin & Monica, This is a wonderful list that you've compiled. I was recently contacted by someone who has been trying to sell their home since October but do not yet know where they would go when they sell...it would be wise to have that in place. And of course it is key, as Peter said, that they emotionally detach from their home.

01/17/2008 02:09 PM

by Carole Provenzale Owner, Feng Shui Long Island & New York (Feng Shui Long Island & New York City)

Hi Dan - I agree wholeheartedly.

Carole - thenks for visiting our blog. I think you're right, there needs to be an emotional detachment from the home.

01/17/2008 06:36 PM

by Kevin & Monica Ray, Missoula, Superior & Western Montana Real Estate Specialists (Streamside Realty )

Very nicely put together article. I'm sure your sellers feel very well represented and supported.

01/23/2008 09:42 PM

by Chrissy Harrison (ERA Tradewind Real Estate)

I think that is a great list Monica. I had a buyer make an offer on a home and give the seller ten days to move. The seller came back and said they needed thirthy days. My buyer ask if they had to do that and i said no. The seller wouldnt back down so my buyer bought something else.

01/24/2008 08:07 AM

by Vicki Bishop GRI - Alabama Real Estate (Coldwell Banker United Realtors®)

Thank you for your comment Chrissy.

Vicki - Thank you for your comments. I've had similar experiences, on both the buyer and seller's side. It's frustrating at the time and what inspired this post.

01/24/2008 08:45 AM

Leave a response…

Name:

Notify me of new comments:

Comment:

What does the graphic say?