7 Deadly Mistakes Home sellers make
The 9 Step System to Get Your Home Sold Fast and For Top Dollar
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The 7 Deadly Mistakes Most Home sellers Make
- Failing to analyze why they are selling.
- Not preparing their home for the buyer’s eye.
- Pricing their homes incorrectly.
- Selling too hard during showings.
- Signing a long-term listing agreement without a written performance guarantee.
- Making it difficult for buyers to get information on their homes.
- Failing to obtain a pre-approved mortgage for one’s next home.
“Buyers are far more discriminating, and a large percentage of the homes listed for sale don’t sell the first time. It’s more critical than ever to learn what you need to know to avoid costly seller mistakes in order to sell your home fast and for the most amount of money.”
* The 9 Step System to Get Your Home Sold Fast and For Top Dollar
Selling your home is one of the most important steps in your life. This system will give you the tools you need to maximize your profits, maintain control, and reduce the stress that comes with the home-selling process:
- Know why you’re selling, and keep it to yourself.
The reasons behind your decision to sell affect everything from setting a price to deciding how much time and money to invest in getting your home ready for sale. What’s more important to you: the money you walk away with, the length of time your property is on the market or both? Different goals will dictate different strategies.
- Do your homework before setting a price.
Settling on an offering price shouldn’t be done lightly. Once you’ve set your price, you’ve told buyers at the absolute maximum they have to pay for your home, but pricing too high is as dangerous as pricing too low. Remember that the average buyer is looking at 15-20 homes at the same time they are considering yours. This means that they have a basis of comparison, and if your home doesn’t compare favorable with others in the price range you’ve set, you won’t be taken seriously by prospects or brokers. As a result, your home will sit on the market for a long time and, knowing this, new buyers on the market will think there must be something wrong with your home.
- More homework
Find out what homes in your own and similar neighborhoods have sold for in the past 6-12 months, and research what current homes are listed for. That’s certainly how prospective buyers will assess the worth of your home.
- Find a good real estate agent to represent your needs.
Nearly three-quarters of homeowners claim that they wouldn’t use the same realtor who sold their last home. Dissatisfaction boils down to poor communication which results in not enough feedback, lower pricing and strained relations.
- Maximize your home’s sales potential
Appearance is critical, and it would be foolish to ignore this when selling your home.
You may not be able to change your home’s location or floor plan, but you can do a lot to improve its appearance. Before showings clean like you’ve never cleaned before. Pick up, straighten, unclutter, scrub and dust. Fix everything, no matter how insignificant it may appear. Present your home to get a “WOW” response from prospective buyers.
Ask you broker for input.
- Make it easy for prospects to get information on your home
You may be surprised to know that some marketing tools that most agents use to sell homes (eg. traditional open houses) are actually not very effective. In fact, only 1% of homes are sold at an open house.
Furthermore, the prospects calling for information on your home value their time as much as you do. The last thing they want to be subjected to is either a game of telephone tag with an agent, or an unwanted sales pitch.
- Know your buyer
In the negotiation process, your objective is to control the pace and set the duration. What is your buyer’s motivation? Does s/he need to move quickly? Does s/he have enough money to pay you your asking price?
- Make sure the contract is complete
For your part as a seller, make sure you disclose everything. Smart sellers proactively go above and beyond legal requirements to disclose all known defects to their buyers in writing. If the buyer knows about a problem, s/he cant come back with a lawsuit later on.
Don’t move out before you sell
Studies have shown that it is more difficult to sell a home that is vacant because it looks forlorn, forgotten, simply not appealing. It could even cost you thousands. If you move, you’re also telling buyers that you have a new home and are probably highly motivated to sell fast. This will give them the advantage at the negotiating table.
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