Challenge: Mistakes Sellers Make That Could Cost Them a Sale

By
Services for Real Estate Pros with ActiveRain
https://activerain.com/droplet/49sW

this stinksYou show up with your buyers, a lovely young couple looking to buy their first home together. Immediately upon entering the front door the overpowering smell of last nights dinner consumes every inch of available air. The husband spins on his heels and makes an immediate exit.

"Let me know if you like it, I'll be waiting out here trying to regain my sense of smell" he says from the recently retreated to sidewalk.

Or you are getting ready to list a new beauty with sweeping views of the lake. It has to be on the market by Monday. Sure, it's Sunday night and you just signed the listing agreement, but it was contingent on having the home on the market the next day. These sellers just can't wait! You promise to have their home in the MLS and 'on the market' the next day. You'll circle back on Wednesday and shoot some great pictures of the home to use in your marketing.........

Too late! When that listing hits the MLS tomorrow it will be sent out to thousands of potential buyers via the MLS IDX feed. By Monday at noon the listing will have been passed over by thousands of potential buyers because there are no pictures. You may never get another chance to get that listing in front of those prospects. 

You guys see these things every day.

Overpricing a listing is not the only thing a seller can do to hinder the sale of their home. So tell us, what mistakes do sellers make that cost them money, time, and possibly the sale of their home?

Our next crowdsourcing webinar will share the ideas you give us as to the mistakes sellers should look to avoid when getting ready to list, or when having their home listed. 

How Can You Share Your Advice?

In a blog post, share with us one example or story of a mistake you've seen sellers make that could have cost them money, time or ultimately the sale of their home. And of course, we'd love if you'd also share the remedy, if there is one. 

All entries in this crowdsourced challenge will be given 1000 points.

In order to enter, just leave a link to your blog post in the comment section of this blog post.

In order to qualify for the 1000 points, please submit your posts by Sunday, January 19th at 11:59pm Pacific Time.

Register to join us next Thursday, January 23rd at 10am Pacific Time as we crowdsource some of the worst mistakes sellers can make in a webinar that compiles your best examples and stories. 

Posted by

Bob Stewart
ActiveRain Ambassador

 

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Re-Blogged 2 times:

Re-Blogged By Re-Blogged At
  1. Kathy Streib 01/14/2014 04:10 AM
  2. Winston Heverly 04/09/2014 12:58 AM
Topic:
ActiveRain Community
Groups:
ActiveRain Challenges
Tags:
crowdsourcing
activerain challenge

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Rainmaker
269,508
Jean Hedren, CRS ABR SRES RSPS
Edina Realty, Inc. - Gordon, WI
Your Northwest Wisconsin Realtor
Ambassador
681,424
John DL Arendsen
CREST BACKYARD HOMES, ON THE LEVEL GENERAL & FACTORY BUILT HOME CONTRACTOR, TAG REAL ESTATE SALES & INVESTMENTS - Leucadia, CA
Crest Backyard Homes "ADU" dealer & Contractor

Oops! Looks like I'm a little late for this one.

Jan 20, 2014 02:15 AM #260
Rainmaker
4,640,518
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Bob,

Here is our entry,

http://activerain.com/blogsview/4305882/luxury-real-estate-marketing-luxury-sellers-biggest-mistake-

Jan 20, 2014 07:47 AM #262
Rainer
453,420
Diane M. Phillips Realtor 443-286-4365
Frankly Real Estate Inc. - Manchester, MD
Specializing in Carroll Co., MD

Bob ~ Looks like I'm a day late, bummer. Great topic! Looking forward to the webinar & results of the survey.

Jan 20, 2014 09:12 AM #263
Rainmaker
524,646
AJ Heidmann ~ CRS
McEnearney Associates, Inc. - Alexandria, VA
YOUR Alexandria & Arlington, VA Real Estate Expert

This one gave a whole lot of material to look over... can't wait for the crowd sourcing webinar later this week.

Jan 20, 2014 10:04 AM #264
Rainmaker
880,377
Elise Harron
Dirt Road Real Estate - Kingman, AZ
Rural Vacant Land and Development Specialist

Too late for the contest... but here is one I see ALL THE TIME...

Vacant Land...

Never say Never...

After months on the market... one persistant intersted party insists that I ask the Seller if they will consider an Owner Carry.  I ask and the answer is YES... Now I go back to my listing notes and the OWC is an emphatic NO Never would not even consider.  If they had thought about what 50% of thier asking price down for a full price looks like with an 8% carry they could have made 120% on thier property instead of still being on the market and then most likely getting a 85% offer - which they will probably accept!

I say - Never say Never... put it in as Owner MAY Carry with the right offer and terms, I spell out the terms!  On land, how much can they screw it up without improving it somewhat. If you get to sell it again after a deficiency notice and forclosure - then so be it... cash that check for the BIG down payment once again!

No points - just wanted to SHARE!!!!!

Jan 20, 2014 10:55 AM #265
Rainer
483,068
Chandler Real Estate Liz Harris, MBA
Liz Harris Realty - Chandler, AZ
#ChandlerRealEstateAgent

Just found this contest this evening!  Bummed that I missed it! Fantastic topic!

Jan 20, 2014 12:12 PM #266
Rainmaker
762,158
Ritu Desai
Samson Properties - Ashburn, VA
Virginia Realtor-Fairfax/Loudoun/PW-703-625-4949

Bob, looking forward to compiled list. Here is my entry.

http://actvra.in/4b5M

Jan 27, 2014 10:00 PM #267
Ambassador
2,371,853
Fred Griffin Tallahassee Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

Hi, Bob et al

   POINTS?  Thank you!  

Jan 28, 2014 04:15 AM #268
Rainmaker
65,593
Donna Bacher
PureRealty Brokerage - Hamilton, ON
Broker

Hi Bob...I'm with Fred...points???

Jan 28, 2014 03:22 PM #269
Rainmaker
529,640
Hella M. Rothwell, Broker/Realtor®
Carmel by the Sea, CA
Rothwell Realty Inc. CA#01968433 Carmel-by-the-Sea

Darn, I missed the deadline!

Jan 29, 2014 12:31 PM #270
Rainer
154,706
Paul A. Perry
Certified Inspections, PC - Residential & Commercial Property Inspections - Crossville, TN
Home Inspector - Crossville & Cookeville, TN

Late responders still posting; If you don't have deadlines, you can't play games. If you can't play games, you don't have fun!  Better luck next time! 

Jan 29, 2014 01:32 PM #271
Rainmaker
3,254,184
Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Home and Condo Specialists

Here's our Entry..Mistakes Sellers Can Make

Jan 30, 2014 09:19 PM #272
Rainmaker
3,080,419
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

I had not received any points and now can not find my comment as i scroll back, I wanted to leave my entry again. Thank You

Does offering a SELLING AGENT a BONUS attract more Buyers? 

Jan 30, 2014 11:50 PM #273
Ambassador
3,890,468
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Bob I posted my blog in comment #175 but just occoured to me that you may need our user name as well, mine is gsouto.

Jan 31, 2014 01:12 AM #274
Rainmaker
379,704
Dana Hollish Hill
Hollish Hill Group, KW Capital Properties - Bethesda, MD
Lead Associate Broker

When will you be awarding the points? I haven't seen them show up yet. 

Dana

Feb 03, 2014 12:26 AM #275
Rainmaker
476,682
Bill Dean
Haggerty Team St. Louis, Mo. - Fenton, MO
William Dean - Broker, Salesperson

I also am wondering when points will show up?

 

Feb 03, 2014 03:19 AM #276
Anonymous
Connie Addison
I agree with your observations on how sellers can hinder their own sale. When it comes to photos our MLS policy (thank goodness!) is that no listing will go "live" unless there is at least ONE photo. My experience shows that a professional photographer's shots of the home (inside and out) will help that listing get sold faster and for more money. I was surprised to find that there are many real estate photographers that advertise on Craigslist - having employed a couple of them at a very reasonable fee, it's made a huge difference. Thank you for your post.
Feb 03, 2014 10:30 PM #277
Ambassador
687,143
Bob Stewart
ActiveRain - Seattle, WA
ActiveRain Ambassador

Points have been awarded for everyone that left a link. Thank you for all of the participation. There were some really amazing posts in here and I think the end result is something that many members will be able to use in their business. You guys are awesome!!

Feb 12, 2014 05:52 AM #278
Rainmaker
61,501
Gail Fabiani
Right at Home Realty Inc., Brokerage - Burlington, ON

Good information.  Love the strong smell of garbage in a home I am showing.  Yikes!

Feb 12, 2014 11:21 PM #279
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