Mistakes that Cost Sellers Thousands

Improper Pricing

Over or under pricing is by far the most common mistake that unsuccessful home-sellers make. If you set the price too high, your home will sit unsold and become over-looked. This will help to sell homes competing with yours as buyers who see your home will compare it to properly priced homes and choose the better value. On the other side of the coin, if you price your home too low, you may give your home away, thousands of dollars less than it is worth. You need to keep in mind that market value is set not by realtors, appraisers or sellers, but by what buyers have paid for comparable properties, and what buyers are willing to pay for a property.

Not Providing Easy Access

Accessibility is very important when it comes to a profitable sale. A lock-box allows buyers, with realtors, to see your home at a moments notice. The more accessible your home is, the more showings, and the better odds to finding a buyer for your home. In today’s competitive market, buyers who are really serious, and can’t get into your property will go on to view other homes and purchase elsewhere.

Bad Housekeeping

First impressions are very important in real estate. Many home sales are lost each year to cluttered rooms, un-mowed lawns, dirty kitchens, baths, and unpleasant odors. It is imperative that you clean your home inside and out so that everything looks as great as when it was new.

Failure to Make Repairs

Once a home is in contract, minor repairs and improvements can set the home-owner back thousands of dollars. A leaky toilet, rotting doors, cracked tiles, and other minor details can be used as leverage when dealing with the contract. Another thing to keep in mind is that since there are many homes for sale, what may seem to be a small fix-up job can make a difference between your home selling that day and a comparable home selling. Failure to make repairs could be the difference to your home selling or sitting on the market for months.

Relying on Traditional Methods

Putting a sign in the yard of your property is a long gone method to get your home sold. In today’s market agents need to design a leading edge marketing plan that will maximize the odds your home being seen by that one special buyer.

Making Decisions on Emotions

Selling your home must be seen as a business transaction, not an emotional one. This focus should stay clear throughout the entire home selling process. A buyer sees no benefit in the intrinsic value that you have created in your property.

Not Understanding the Market

The market is the only one thing that determines the value of a home. Basically it’s what buyers are willing to pay for comparable properties in your area. Value fluctuates by supply and demand just like any other commodity. Since buyers are out there shopping, comparing values, it is very difficult to find a buyer willing to pay more than current market value. No single person, firm, or agent has any control over the market!

Unqualified Prospects

A buyer who can’t purchase your home is not really a buyer at all. It sounds simple but thousands of hours are wasted every day by showing properties and negotiating with this type of “buyer.” Buyers need to be pre-approved for a loan before you begin to work with them.

Choosing the Wrong Agent

Most homes are sold by real estate agents-but not all agents are created equal. A Realtor that will be with you every step of the process is very important. Knowledge, marketing, and leading-edge technology will have an enormous impact on your success. Choosing the right agent will make the difference between your home sitting and your home selling for TOP DOLLAR!Shanna Lafontaine is a Realtor with RE/MAX Affiliates who works Metro Columbus, Dublin, Hilliard, Powell, Worthington, Westerville, Delaware and surrounding Central Ohio areas helping both Buyers and Sellers.

Shanna Lafontaine, LLC© 
RE/MAX Affiliates Inc. 7239 Sawmill Rd. Ste 210, Dublin, OH 43016

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