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White Pine TN Homes for Sale, 10 Common Listing Mistakes

By Mary Kay Carter

Real Estate Agent with Exit Triple E Realty

February 19, 2011 07:07 AM

10 Common Listing Mistakes

Selling your home can be an exhausting experience, whether you are selling you home "FOR SALE BY OWNER" or listing it with an agent. You have the inconvenience of endless phone calls, broker previews, endless showings, price adjustments and the possibilities of being stuck with two mortgages are very real concerns for many of today's homeowners. If you're not adequately prepared, you could end up losing hundreds, even thousands of dollars in profit. By educating yourself, you'll be better equipped to avoid the following mistakes most commonly made by sellers:

1. Refusing To Invest in Potentially Profit-Inducing Repairs:

It always costs you more money to sell ‘as is' than to make repairs that will increase the value of your home. Often even minor improvement will yield as much as three to five times the repair cost at the time of sale. If working with an agent they will be able to point out which repairs will significantly increase the value of your home. Even seemingly small "touch-up" jobs can have an impact on the eventual sales price.

2. Failure to Consider Alternative Financing Terms:

Cash is not always the most advantageous transaction. Income level, tax benefits, and current leg- islation are all crucial factors when considering purchase terms. Professional real estate agents are experts in facilitating your home transaction. A smart agent will lead you to the path that will result in the highest yield.

3. Neglecting to Provide Easy Access for Showings:

Accessibility is a major key to profitability. "Appointment only" showings are obviously the most restrictive, while a lock box is the least. The more accessible you make your house for showing the better chances you have of selling it. You need to take into consideration your lifestyle, time frame for the desired sale, and your willingness to work with potential buyers, the better the odds of your finding the right person willing to pay your asking price.

4. Settling on a Purchase Price Lower/Higher than Comparable Sales:

One critical is making 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 stigma as a "problem property". If it's priced too low, it could cost you considerable profit in the long run. The real estate market changes quite often so you should re-evaluated your pricing every 30-45 days to help you maximize your return.

5. Relying Solely On Traditional Methods To Sell Your Home:

Many home owners think they can sell their home by themselves or hire a real estate agent who uses the traditional market strategies. In today's current housing market you may need to think outside the box to help sell your home. Using new strategies for attracting homebuyers will work in your favor over the traditional real estate marketing. As a motivated seller, you should consider using a real estate agent who uses the latest cutting edge marketing strategies both online and print advertising exposure. In today's competitive real estate market, these services are readily available, and a good real estate agent should offer them to help sell your home.

6. Being over dependence on Market Timing & Seasonal Selling:

If you wait for just the right time to sell your house you may be missing the boat. The housing market in is continually changing. Although you may believe the prevailing myth that property sales are seasonal is just that: a myth. In any market, real estate is always selling.

7. Failure to Make Necessary Cosmetic Changes:

As you're undoubtedly aware, the prospective homebuyer's first impression is all-important in the sales process. An inconceivable amount of home sales have been lost to unkempt lawns, cluttered rooms, bad stains, and unpleasant odors, all seemingly minor blemishes that ultimately spoil a buyer's motivation. The easiest way to avoid this costly error is to imagine that you are the homebuyer and look at your home objectively, and clean your place from top to bottom. Your home is never too clean or too perfect.

8. Wasting Time with an Unqualified Prospect:

Your time is precious to you, you do not want to be wasting it on someone who can not afford to buy your house. Before you get to excited with a prospective buyer you might want to ask them for a prequalification letter, thus saving you wasting both your time and the prospective buyers time. If you align yourself with the right professional they will do all the leg work for you, helping you eliminate negotiating with unqualified prospects.

9. Missing an Opportunity by Testing the Market:

Never put your property up for sale unless you are serious about selling. Unless you're motivated enough to sell, flirting with indecision, however, you may just blow the sale for you.

10. Believing You Are Powerless To Make A Difference:

Don't be a spectator in your home selling transaction. Take an active role with your agent( if you are using one) to see what you can do to help facilitate your sale. Networking with professional peers and personal friends can help in the sale of a home. In fact, you may be surprised how often homes are sold simply by word-of-mouth.

If you are looking to relocate to the east Tennessee, Smoky Mountain area I would love to help you and try to make your relocation as smooth and stress-free as possible. Whether you are moving across country or across town my team is here to help you. Or if you want to sell your east Tennessee home please allow me to show you how MY TEAM will aggressively market your home.

Mary Kay Carter