Don't put your home on the market until you've read this report!
Avoid 11 mistakes that could cost you thousands of dollars.
Selling your home can be an exhausting experience. Last minute walk-throughs, inconvenient calls, price adjustment and the possibility of being stuck with two mortgages to pay at one time are real concerns. If you are not completely prepared, you could end up losing hundreds, or even thousands of dollars.
The difference between a profitable, smooth transaction and a break-even is a miserable experience and often a fine line. In the majority of cases, it comes down to the subtle know-how of your profession. By utilizing the knowledge of a qualified professional, you'll ensure the quick, profitable sale of your home. This report is designed 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. NOT CONSIDERING OTHER FINANCING TERMS: Cash is not always the most advantageous transaction. Income level, tax benefits and current legislation are all critical factors when considering purchase terms. Professional Loan Officers 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 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 that 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.
4. PRICED TOO LOW OR PRICED TOO HIGH: It is important to find the right professional to work with to ensure your 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" in your marketplace. If it's priced too low, it could cost you considerable profits. The market has subtle nuances and market changes that should be re-evaluated by the professional that is marketing your home, and communicated back to all interested potential buyers when important changes occur.
5. 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.
6. MARKET TIMING VS. SEASONAL SELLING: Just as a broker continually follows the trends of a stock, your loan consultant continually follows the market trends involved in home financing. Your professional will know if the market cycle is poised to net you the most money. Many people believe that property will always sell better in the spring than in the winter. This doesn't always ring true. Disregard the belief that property sales are seasonal, because selling property really relates to selling with the right exposure and knowing current market trends.
7. REFUSING TO MAKE COSMETIC CHANGES: The prospective home buyer's first impression is the most important one. An incredible number of home sales have been lost to unkempt lawns, cluttered rooms, bad stains, and unpleasant odors. These all seem to be rather small things to think about, but you have to imagine you're the buyer looking at the home, from top to bottom, military style.
8. WASTING TIME WITH AN UNQUALIFIED PROSPECT: Be sure to align yourself with a loan consultant 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.
9. DON'T TEST THE MARKET: Never put your property on the line to sell unless you are serious. The right professional will find you buyers, and if you are harboring indecision, you will be the one who blows the sale.
10. BELIEVING YOU ARE POWERLESS TO MAKE A DIFFERENCE: Be part of the team! Take an active role in doing what you can to facilitate the sale of your home. Networking with your peers and professional associates can often result in the sale of the home. It's surprising how many homes are sold this way.
11. BELIEVING ALL LOAN ORIGINATORS ARE THE SAME: With all of the intricate detail and decisions involved in selling your home, 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 the expectations of the seller. Your home sale is too time consuming and difficult a task to trust to someone who is not trained in this area. Maximize your profits by using a professional consultant.
I sincerely hope these tips and ideas are valuable to you. If I can be of service in any way, I would consider it a privilege to assist you in selling your home.
Senior Loan Consultant - FR Elite