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25 Mistakes Crofton Home Sellers Sometimes Make

Home sellers, you have every reason to be concerned about making mistakes when you sell your Crofton home. And you wouldn't be alone if you did make a few mistakes. In fact, avoiding mistakes is one of the reasons many home sellers give for hiring a REALTOR to help them.

Here are a few mistakes you should be careful to avoid:

1. Leaving home for a few minutes and missing buyer calls.

2. Failing to get a showing appointment when a buyer calls.

3. Not showing your home when it's convenient for a buyer.

4. Spending more time/money than necessary preparing
      your home to sell.

5. Spending too little time and money.

6. Spending time and money on the wrong things.

7. Overpricing your property.

8. Underpricing your property.

9. Not accurately identifying the right target market.

10. Creating an ineffective marketing message.

11. Spending too much on marketing your home.

12. Spending too little on marketing.

13. Marketing in the wrong places.

14. Showing features the buyer will consider a disadvantage.

15. Showing unqualified buyers... or unscrupulous buyers.

16. Showing your home while your family is there.

17. Appearing anxious when you follow-up with prospective
      buyers.

18. Not following up with prospective buyers.

19. Making unnecessary selling concessions.

20. Not making necessary selling concessions.

21. Failing to make required disclosures for lead and other environmental concerns.

22. Failing to disclose material facts.

23. Inadvertently discriminating against someone in a protected class (do you know what
     they are?).

24. Not hiring a real estate professional to represent your interests.

25. Hiring the wrong real estate professional to represent your interests.

There's a reason why Maryland requires licensing for anyone assisting home sellers and buyers with a real estate transaction. After all, a home sale is a complex business transaction governed by complex federal, state and local laws with potentially costly liabilities. Not only that, but most states require many hours of continuing education for real estate licensees, regardless of how many years experience they have, to ensure they keep up with ever-changing real estate laws. And that doesn't even begin to address the ongoing practical training most REALTORS obtain through their brokers and professional organizations.

Someone who has never sold a home before, or only a few homes, can't be expected to avoid mistakes or know how to address the many issues that can arise in a real estate transaction. Fortunately, you don't have to.

I'll follow up later this week with some suggestions for choosing the "right" REALTOR to represent you in your home sale - your best bet for avoiding, or at least minimizing, those potential mistakes.

In the meantime, check out Jason Crouch's featured post today Adventures in the Grocery Store - A Real Estate Allegory - a totally different approach on the topic of home-seller mistakes.

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Posted by Margaret Woda, Maryland Real Estate on 05/04/2008 06:18 PM

Comments (24)

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Originally posted at: Fort Meade - USNA - Andrews AFB: 25 Mistakes Crofton Home Sellers Sometimes Make

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24 Comments on 25 Mistakes Crofton Home Sellers Sometimes Make

MAY

2008

Margaret,

If a new or prospective agent wants to learn about how to sell real estate, they should spend some time on your blog reading some of your posts!!! Thanks, Fran

Margaret,

This is a good post. I wish sellers would see this, and realize that realtors are worth their weight in gold. Having good representation is better than having bad, or non at all, which is what happens to most people who try sell their home on their own.

Fran - This is a LOCALISM post, so hopefully home sellers will see it. I picked 10 for my listing presentation, but my leave-behind paperwork has all 25.
Valerie - I find that many households are divided - One spouse is worried to death about everything on this list, while the other is completely confident that selling a home is no harder than making a sandwich. Unfortunatly, some agents aren't as good as others about avoiding these mistakes. Choosing the "right" agent is important

Great post. I actually had a neighbor who was making mistakes in selling their home. Their agent had no idea that they were turning off buyers. Well, it turns out they didn't really want to sell and took their home off the market.

Very nice post, you give some good advice about why someone should hire a Realtor.

Hi,

Nice post. Great advice.

Sharona

I love this list - nice graphic too - you are my idol - I want to be just like you when I grow up :o)

Thesa, you're so silly! I know you're doing just fine!
Sharona, If one seller is open-minded to this...
Bart, Thanks for the comment.
Rob, that happens sometimes.

Margaret, great list of mistakes for sellers to be aware of and to guide them to hire the right real estate professional.

Margaret, such a great list and so telling. I doubt I would have gotten all those. Here is another one.

Answering Buyer Prospects questions or ever having a discussion with them in the first place. Always defer every question to your REALTOR. And for heavens sake, allow the buyers to look at the home without standing over them like a nervous suitor. They will never look at what is important to them if the homeowner is standing there.

MAY

2008

William - GREAT addition to this list, and I'll be adding it to my handout. Thank you.
Brian - Stand by for the buyers list, coming soon to a blog near you...

Margaret,

Long list but so true...I might have to add a few more to mine.

Your list of common sellers' errors is extensive and accurate. It's a shame some sellers choose to not take advantage of a real estate agent's expertise.

Margaret - your comment 'choosing the "right" agent' is one more vendors should consider when choosing an agent - even though we all think about dollars and cents the one who suggests the highest price may not be the right one

Margaret - As always you give great advice to those looking to seel their homes with or without the aid of a competent REALTOR.

Margaret - one of the benefits of our current market is that owners are realizing that they often do need an agent - and that there is a definite difference between agents.

Sharon, You're right, that's absolutely true - and agents who may have been well-intentioned (or not) are moving on to other things, leaving the "cream of the crop" to survive (and thrive?) in a down market.
Judy - That's true - these mistakes occur for FSBO's, but even listed homes. How often do sellers ignore our advice, or choose the cheapest agent who may not have the experience and training to give good advice...
Kathy - I think a lot of sellers are learning that lesson the hard way. We have a seller coming back a year after rejecting us in favor of an agent who suggested a higher price. Of course, now the lower price of a year ago is high.
Rosario - It really does seem that a seller is damned if they do and damned if they don't. Getting things "just right" is more important than ever in this market, because there's no room for error.
Neal - I would love to see your suggestions for others. William Johnston already listed one - "Answering Buyer Prospects questions or ever having a discussion with them in the first place."

MAY

2008

Marg - OUCH - A very hard lesson to learn

MAY

2008

Marg,

Simple. Just hire a REALTOR.

And listen to them.

It's just the best thing to do.

Steve

MAY

2008

This is an excellent post. I always appreciate when sellers listen to the advice of a Realtor to get it sold. I agree with number 7 - particularly in this market so that you don't chase the market down.

MAY

2008

Margaret, great post for FSBO's. In today's market, I seeing that sellers are realizing the value of a good real estate agent. They are a little more receptive to paying a commission. Great tips.

MAY

2008

Enjoyed your post. Great talking points.

MAY

2008

Hi Margaret, some real issues for anyone considering home sales. These highlights are just the tip of the iceberg...the iceberg is what took down the Titanic...it isn't what you see....it is what you don't see. Great list Margaret.

As a home owner I see the logic of a real estate proffessional but the costs are so high that it tempts folks to "do it yourself" to make enough to move to the next home. What a quandry for the seller. We all need to make a living but 6% is a killer on a 500,000.00 home from a sellers point of view.

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