EXPERIENCE To Avoid Mistakes

Selling Your Home? 

Don't Make These Common Mistakes:

In a recent example, a Seller/Investor who thought the half bath the builder had located at the back of the house would really be better situated toward the front of the main level (though all the other similar models had the powder room in the same place for the previous 15 years). The Seller was so hung up on this detail, that he just had to move it -- and did -- for thousands of dollars, just so he could get it on the market the "right way." The Seller’s hang-up may have settled some deep-rooted emotional need for him, but it didn't draw any more buyers, and his bottom line was spent. You might say, that was a costly mistake.

In my business, I've seen each one of these mistakes played out and it just makes me shake my head as to why, Sellers go ahead with undesirable strategies, instead of listening to the voice of an experienced professional.

An EXperienced REALTOR® will prevent you from making these mistakes!

The seven costly mistakes:

Mistake 1: Putting the home on the market before it's ready. Most times this happens because the seller gets is unwilling to wait or waits too long and has pushed themselves up against a moving deadline without getting the pre-sale work done. So the home goes on the market with the worn-stained carpet (that gets replaced during the marketing of the home); or they are painting the inside of the home while it goes on the market. Presentation is everything -- so it is necessary to get the work done before putting the property on the market.

Mistake 2: Over improving the home for the neighborhood. This happens with additions, bump outs, and upgrades that make the home stick out from among the competing homes so much that it looks peculiar, instead of a nice addition to the community.

Mistake 3: Pricing the home based on what the seller wants to net. This pricing method always ends in failure. Sellers can control the "asking" price, but they don't control the "sales" price. The market does. It doesn't matter what the seller wants, the price is determined by the reality of the market.

Mistake 4: Hiring an agent based on non-business factors.  Make sure you're hiring a professional with selling experience. It might be nice to hand over your largest asset to your niece who just got her license -- but every expert will tell you the same advise: demand a top producer who is experienced in marketing  and is an expert in negotiating with a proven track record.

Mistake 5: Getting emotionally involved in the sale of the home. This is one of the biggest challenges home sellers face when they put their home on the market. Your house is no longer a home once you put it on the market. It needs to be prepared, marketed and priced as a commodity. It doesn't matter what you "want", only what the market can bear on pricing. People are going to come in and beat the bushes, so to speak, and you can't get emotional about how they may or may not appreciate the little things of your home of ten years has to offer.

Mistake 6: Trying to cover up problems, or not disclosing them. Most states have a property disclosure/disclaimer form -- use it wisely. Just because you didn't’claim certain problems that couldn't be seen, doesn't mean you can’t be sued later for the leaky basement, or dilapidated heating/air system that's discovered 30 days after settlement.

Mistake 7: Not getting your ducks lined up before trying to sell. This would involve financing, reading the fine print on your current mortgage, and not listening to the particulars of your local market, etc. If your local market is indicating lower home prices, then lower the price early, not later -- it will cost you more. If the local market is indicating selling your home first, then buying the second home, do it in that order, not vice versa.

EXperience The EXecutive Advantage, Contact Me Today!