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11 mistakes sellers typically make

By
Real Estate Agent with Don Cies Real Estate 156645

Avoid 11 Mistakes

 

 

 1.       Refusing to Make Profit Inducing Repairs - It always costs you more money to sell "as is" that to make repairs that will increase the value of your home.  Often even minor improvements will yield as much as three to five times the repair cost at the time of sale.  Your agent will be able to point out what repairs will significantly increase the value of your home.  Seemingly small fix up jobs can have quite an impact.

  2.       Not Considering Other Financing Terms - Cash is always the most advantageous transaction.  Income level, tax benefits and current legislation are all critical factors when considering purchase terms.  Professional real estate agents are experts at home transactions and can lead you down the path that will give you the highest yield.

 3.       Provide Easy Access for Showings - Accessibility is a major key to profitability.  Appointment only showings are the most restrictive, while a lock box is the least.  However there are certain considerations to take into account . . . your lifestyle, time frame for the desired sale and the relationship with your agent.  The more accessible your home, the better the odds of finding a person willing to pay your asking price.  You never know if the one that couldn't get a viewing was the one that got away.  By developing a trusting relationship with your agent, he or she will show the home with your best interests in mind.

 4.       Priced Too Low/Priced Too High - One critical reason to find the right professional is to make sure the property is priced appropriately for a timely and profitable sale.  If the property is priced too high it will sit and develop the identity of a problem property.  If it's priced too low it could cost you considerable profits.  The real estate market has subtle nuances and market changes that should be evaluated by your agent every 10-14 days to help you maximize your return.

 5.       Relying Solely on Traditional Methods To Sell Your Home - The agent who is innovative and willing to offer new strategies of attracting home buyers will always outperform agents who rely on traditional methods.  Demand around the clock advertising exposure, innovative lead generation methods lead accountability and cutting edge Internet strategies.  These services exist and should be offered on your home sale.

 6.       Market Timing/Seasonal Selling - Just as a broker who continually follows the trends of a stock, your professional agent continually follows trends of your home market.  They will know if the market cycle is poised to net you the most money.  Disregard believing property sales are seasonal . . . sells better in spring than winter . . . property is always selling.

 7.       Refusing to Make Cosmetic Changes - The prospective home buyer's first impression is the most important.  An unbelievable amount of homes sales have been lost to unkempt lawns, cluttered rooms, bad stains, unpleasant odors . . . all the seemingly little things

Imagine you were the home buyer and cleaned your placed from top to bottom . . . military style.

 8.       Wasting Time With An Unqualified Prospect - Your agent's responsibility is to screen a prospect's qualification before valuable time is lost.  Be sure to align yourself with the right professional and eliminate negotiating with unqualified prospects.

 9.       Don't Test The Market - Never put your property on line to sell unless you are serious.  The right professional will find you buyers and if you are harboring indecision . . . you will slow the sale.

 10.     Believing You are Powerless to Make a Difference - Be part of the team!  Take an active role with your agent to see what you can do to facilitate your sale.  Networking with professional peers and personal friends often results in the sale of a home.  It's surprising how many homes are sold this way.

 11.     Believing All Realtors® are the Same - with all the intricate details and critical decisions to be made concerning your home sale, should you rely on anyone but a top producing professional?  Many friends and family members have been estranged as a result of failing to meet expectations.  Your home sale is a time consuming, effort related, difficult task.  Maximize your profit by utilizing a professional.

Erby Crofutt
B4 U Close Home Inspections&Radon Testing (www.b4uclose.com) - Lexington, KY
The Central Kentucky Home Inspector, Lexington KY

And the easiest way to find out about #1 is a good Seller's Inspection before the home is placed on the market.

 

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Sep 24, 2009 02:04 PM
Robert Schwabe
Herron Real Estate - Orange Park, FL
Orange Park Real Estate

Brain - Great list of things a seller could do. It just amazes me when sellers do a few of these items what a difference it could make.

Sep 24, 2009 02:35 PM
Lorrie Semler, REALTOR® in the Dallas area. Call/text 972-416-3417
HomeSmart Stars - Addison, TX
Real Service. Real Results. Real Estate

Another is not keeping the home in tip-top showing condition. You never know when a last minute showing will be scheduled.

Sep 28, 2009 04:33 AM
Kevin Vitali
EXIT Realty Beatrice Associates - Middleton, MA
Helping Massachusetts Home Buyers and Home Sellers

Good tips.  In the Massachusetts MultipleListing Service, for sale by owners are allowed to list in the MLS as an entry only listing through a limited service arrangement with a local real estate agent.  As an agent showing properties, scheduling showings are a nightmare and the FSBO seller does not understand the importance of making their home available.

Recently, I called a FSBO throught the MLS and tried to schedule an appointment over the weekend for 2 weeks in a row.  His alternative is why dont you come by at 9:30 tonight!!??? which was a Wednesday.  It can be an embarrassment sometimes when it is difficult to show a home.

Nov 10, 2009 12:39 AM
Mike Saunders
Retired - Athens, GA

Brian - excellent set of tips, there are a whole host of rules that sellers should follow, FSBO or full service.

Nov 11, 2009 07:12 AM
Richard Weeks
Dallas, TX
REALTOR®, Broker

Brian,

Great list of tips.  I think we have all worked with sellers who fall into one or more of these.

Dec 10, 2009 03:54 AM
Retired from ActiveRain
Baker, OR

Brian, Your post raises some great points in an easy to read fashion.  Thanks for writing and posting it.

Feb 16, 2010 07:16 AM
Sharon Harris
Keller Williams Keystone Realty - Hanover, PA
Realtor

Book marked this to use in a flyer later on. Hope you do not mind. Thank you for turning my thought process on!

Mar 31, 2010 01:13 AM