SIX SELLING MISTAKES YOU DON’T WANT TO MAKE
Mistake #1 — Pricing Your Property Too High
Every seller obviously wants to get the most money for his or her product. Ironically, the best way to do this is NOT to list your product at an excessively high price! High listing prices will cause many prospective buyers to lose interest before even seeing your property and may lead other buyers to expect more than what you have to offer. Overpriced properties tend to take an unusually long time to sell, and in many cases, they sell bellow fair market price, due to time on market.
Mistake #2 — Mistaking Re-finance Appraisals for the Market Value
Unfortunately, a re-finance appraisal may have been stated 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 may actually be lower than a re-finance appraisal suggested. Your best bet is to ask your Real Estate Professional for the most recent information regarding property sales in your community. This will give you an up-to-date and factually accurate estimate of your property value.
Mistake #3 — Forgetting to “Showcase Your Home”
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 to make your home look as pleasant as possible. Make necessary repairs. Clean. Make sure everything functions and looks presentable. Poorly kept homes in need of repair will surely lower the selling price and turn away many potential buyers.
Mistake #4 — Trying to “Hard Sell” While Showing
Buying a house is always an emotional and difficult decision. You should try to allow prospective buyers to comfortably examine your property. Don’t try haggling or forcefully selling. This is why it is very important to allow buyer’s to only be shown by agents and not sellers. I never suggest allowing buyers and sellers to meet prior to closing.
Mistake #5 — Trying to Sell to “Looky-Loos”
Prospective buyers who make contact based on a sign in the front lawn or an internet advertisement may not actually purchase your home. Buyers do not always realize everything they are looking for and it is an agent’s responsibility to ask the correct questions and show the appropriate home. Often buyers who do not come through a Real Estate Professional are 6-9 months away from buying, and they are more interested in seeing what is available 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 be uncertain as to whether or not they want to relocate.
Andrew Cherry is able to distinguish realistic potential buyers from mere “tire kickers”. Real Estate Professional should usually find out a prospective buyer’s savings, credit rating, and purchasing power in general. If your Real Estate Professional fails to find out this pertinent information, you should do some investigating and questioning on your own. This will help you avoid wasting valuable time marketing towards the wrong people.
Mistake #6 — Limiting the Marketing and Advertising of the Property
Your Real Estate Professional should employ a wide variety of marketing techniques. Your Real Estate Professional should also be committed to selling your property; he or she should be available for every phone call from a prospective buyer. Most calls are received, and open houses are scheduled, during business hours, so make sure that your Real Estate Professional is working on selling your home during these hours. Chances are that you have a job, too, so you may not be able to get in touch with many potential buyers. Andrew Cherry maintains a toll free number, many elaborate websites, many craigslist accounts, many dedicated top online advertising spots, and is an aggressive agent.