Common Mistakes : Selling

Mistake #1 - Incorrect Pricing

Every seller naturally wants to get the most money for their property. The most common mistake that causes sellers to get less than they hope for, however, is listing too high. Listings reach the greatest proportion of potential buyers shortly after they reach the market. If a property is dismissed as being overpriced early on, it can result in later price reductions. As a result, overpriced properties tend to take an unusually long time to sell, and they can end up being sold at a lower price than they likely would have had they been priced properly in the first place.

Mistake #2 - Mistaking Re-finance Appraisals for the Market Value

Re-finance appraisals can be very encouraging for homeowners, leading them to assume that the appraisal is the amount that they should expect to receive for their property. Lenders often 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 (and often is) lower. Your best bet is to ask us for the most recent information regarding property sales in your community. This will give you an up-to-date and accurate estimate of your property value.  

Mistake #3 - Failing to "Showcase"

In spite of how frequently this mistake is mentioned and how simple it is to avoid, its prevalence is still widespread. When attempting to sell your home to prospective buyers, do not forget to make your home look as pleasant as possible. Make necessary repairs. Clean. De-clutter. De-clutter again! Make sure everything functions and looks presentable and remove as many personal items as you can prior to a showing. A poorly kept home in need of repairs or one with too much clutter, will make it dramatically more difficult for buyers to become emotionally interested in your property and could potentially lower the selling price of it.  

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. Ideally, you the seller shouldn’t even be around while prospective buyers are looking at your property! But if you are present; don't try haggling or forcefully selling. Instead, be friendly and hospitable. Pointing out any unnoticed amenities and being receptive to questions is advisable, but this is not the time for negotiation and salesmanship. Also; avoid telling prospective buyers your motivation for selling, your bottom line or anything else that might affect the potential offer that they might put in.  

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 in actually making a purchase. They may still have to sell their house, or may not be able to afford a house yet. They may still even be unsure as to whether or not they want to relocate. We are able to distinguish realistic potential buyers from mere lookers.  

Mistake #6 – Not Knowing Your Rights & 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. We will review all documentation with you prior to signing. Know what you are responsible for before signing the contract. Can the property be sold "as is"? How will easements, covenants, building guidelines and local zoning laws affect your transaction? Not knowing the answers to these kinds of questions could end up costing you a considerable amount of money.  

Mistake #7 - Limiting the Marketing and Advertising of the Property

There are two obvious marketing tools that nearly every seller uses: open houses and classified ads. Unfortunately, these two tools are rather ineffective. Less than 1% of homes are sold at open houses, and less than 3% are sold because of classified ads. In fact, Realtors® often use open houses to attract future prospects, not to sell the house. Our primary marketing and advertising is done through this very website that has access to our brokerage’s listings as well as the other local Realtors®. We had our website renovated to attract potential buyers and sellers with updated listings and relevant information to keep our clients well informed. There are very few successful Realtors® who don’t have a good website, and for good reason. We like to think that our site has a lot to offer!  

Mistake #8 - 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. We would love the opportunity to meet with you to discuss your property.

Charlotte and Vivian work 24/7/365! That’s the beauty of having two agents for the price of one; you can count on one of us always being a call or a click away!