Common Errors to Avoid

Allowing needs or emotions to determine asking price.

Many times sellers base their asking pricing on how much they paid for or invested in their home. Your home must be priced competitively based on other comparable properties. Buyers are usually well informed and those who should be looking at your home will bypass it because it is priced out of their budget. The result is often increased time on the market, low offers and a reluctance on the part of the buyer to negotiate. Every seller wants to achieve the optimum sale price, but an overpriced listing frequently results in a stale listing which buyers tend to void. “If no one else has bought this house yet, there must be a reason”

Failing to prepare your home for a sale.

A property that is not clean and visually well maintained is an indication to the buyer that the home is probably also in need of repairs that are ‘not’ visible. Buyers often make lasting judgements on your home based on first impressions, many times while standing at the front door waiting to enter. Sellers who do the work ahead of time reap the rewards.

Spending too much on your home prior to selling.

Sellers often spend too many dollars on the wrong upgrades. Renovating your home for your own personal use and enjoyment is fine but if you are thinking of selling, you should be aware that only certain upgrades are cost effective. Always consult with your Realtor prior to upgrading your home for the purpose of selling.

Selecting a Realtor for the wrong reasons.

In an effort to achieve maximum selling price, homeowners often list with the agent who suggests the highest asking price. This often followed by a series of suggested price reductions once they have your signed listing. An experienced agent with a realistic assessment of the value of your home will always translate in a better experience and result in a more effective and efficient sale .

Failing to trust showings to the professionals.

Selling the family home can be very emotional and buying a home is also an emotional decision. Buyers will "feel" your home differently than you do and they will decide if it is comfortable for them. Following buyers through your home is a big mistake. Realtors know what their buyers are looking for and will point out the features that are most likely to peak their interest. Many sales are lost by overselling. It is preferable the sellers not be present for showings.

Underestimating the first offer.

Often sellers believe that the first offer received will be one of many. The tendency to believe that a higher priced offer will surely follow if this one came so quickly. This is particularly true if the offer arrives within the first few days of the listing. Experienced Realtors know that more often than not the first buyer’s offer is the best. Many times, sellers have accepted lesser offers months after the initial offer was rejected. A property that is fresh on the market is much more desirable to buyers and the price buyers are willing to pay diminishes with the length of time a property has been on the market. Many sellers regret not taking the ‘early’ offer more seriously.