Mistake #1. - Placing the wrong price on your property Every seller obviously wants to get the most money for his or her product. Ironically, the best way to do this is to list your product at an excessively high price. A high listing price will cause some prospective buyers to lose interest before even seeing your property. Also, it may lead other buyers to expect more than what you have to offer.
Mistake #2 - Mistaking Re-finance Appraisals for the market value
Unfortunately, a re-finance appraisal may have been slated at an untruthfully high price. Often, lenders estimate the value of your property to be higher than it actually is in order to encourage re-financing. The market value of your home could actually be lower. Your best bet is to ask your Realtor for the most recent information regarding property sales in your community.
Mistake #3- Failing to "Showcase"
In spite of how frequently this mistake is addressed and how simple it is to avoid, its prevalence is still widespread. When attempting to sell your home to prospective buyers, do not forget OT make your home look as pleasant as possible. Make necessary repairs. Make sure everything functions and looks presentable.
Mistake #4- Trying to "Hard Sell" while showing
Buying a house is always an emotional and difficult decision. As a result, you should try to allow prospective buyers to comfortably examine your property. Don't try haggling or forcefully selling. Instead, be friendly and hospitable. A good idea would be to point out any subtle amenities and be receptive to questions.
Mistake #5- Trying to Sell to Lookers
A prospective buyer who shows interest because of a "for sale" sign he saw may not really be interested in your property. Often buyers who do not come through a Realtor are a good 6-9 months away from buying, and they are more interested in seeing what is out there than actually making a purchase. They may still have to sell their house, or may not be able to afford a house yet.
Your Realtor should be able ti distinguish realistic potential buyers from mere lookers. Realtors should usually find out a prospective buyers savings, credit rating, and purchasing power in general.
Mistake #6- Being ignorant of your rights and responsibilities.
It is extremely important that you are well informed of the details in your real estate contract. Real estate contracts are legally binding documents, and they can often be complex and confusing. Not being aware of the terms in your contract could cost you thousands for repairs and inspections. Know what your re responsible for before signing the contract
Mistake # 7 - Choosing the Wrong Realtor
Selling your home could be the most important financial transaction in your lifetime. As a result, it is extremely important that you select the Realtor that is best for you. Experienced real estate agents often cost as much as a brand new agent. Chances are that the experienced agent will be able to bring you a higher price in less time and with fewer hassles.
Take your time when selecting a real estate agent. Interview several agents; ask them key questions. If you want to make your selling experience the best it can be, it is crucial that you select the best agent for you