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Seller's Alert! 10 Common Mistakes that sellers make (pt. 1)

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Mortgage and Lending MLS# 279272

Selling yourhome can be an exhausting experience. Last minute walk-throughs, inconvenient calls, price adjustments and the concern of being 'stuck' with two mortgages to pay at one time are real concerns. If you are not completely prepared, you could end up osing hundreds, or even thousands of dollars.

The difference between a profitable, smooth home transaction and a break-even one is a miserable experience and often seperated by a thin line. In the majority of cases, it comes down to the know-how of the professionals you work with. By utilizing the knowledge of a qualified Realtor and Mortgage Professional, you'll ensure a quick, profitable sale of your home. The following has been written to arm you with the knowledge to avoid common mistakes that cost sellers serious money.

1.) Refusing to make profit-inducing repairs. It always costs you more money to sell "as-is" than it does to make repairs that will increase the value of your home. Often, the minor improvements will yield as much as 3 to 5 times the repair cost at the time of the 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 a huge impact!

2.) 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 Realtor all factor into the equation. The more accessible your home is for potential buyers to see, the better the odds are of finding a person to pay the price you're asking for the home. You never know if the one who couldn't get a viewing was the "one that got away"! By having a tool that alerts you to an interested prospect, you will be able to provide a comfortable time to view the home.

3.) Priced too low or Priced too high. It really is important to find the right professional to work with to ensure your property is priced appropriately for a timely and profitable sale. If your property is priced too high, it will sit and develop the identity of a "problem property" in your marketplace. If it's priced too low, it will cost you considerable profits. The market has subtle nuances and market changes that should be evaluated by the professional that is marketing your home, and communicated back to all interested potential buyers when important changes occur.

4.) Relying solely on Traditional Methods to sell your home. The prospect today wants up-front information about the home they are considering to purchase. After all, this is one of the most important purchases they will ever make in their life. As the seller, you should demand around-the-clock advertising exposure, innovative lead generation methods, and lead accountability and follow-up. These services exist and should be offered to you to assist you in selling your home.

5.) Wasting time with an unqualified prospect.  Be sure to align yourself with a mortgage professional that will eliminate the possibility of negotiating with potential buyers who are simply not qualified to make the purchase. All potential buyers should be screened before valuable time is lost.

I'll be back tomorrow with my other 5 "potential mistakes that sellers make". Have a great day!

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