6 Deadly Selling mistakes
Pricing too High !!!
Every seller obviously wants to get the most money in his or her pocket. Ironically, the best way to do this is NOT to list your product at an excessively high price! A high listing price will cause some prospective buyers to lose interest before even seeing your property. Also, it may lead other buyers to expect more than what you have to offer. As a result, overpriced properties tend to take an unusually long time to sell, and they end up being sold at a lower price
Setting Too much Emotional Value
One of the major mistakes that sellers make is to assume that buyers will see the home in the same light that they do. Remember that your opinion and view of the home has been tempered by years of living and memories. Undoubtedly you have some real attachment to the home. This can easily temper your eye when it comes to imperfections in the home. Buyers are naturally critical so any little area of concern will be heavily scrutinized. Another things that tends to happen is there is a disparity between what a seller thinks their home is worth and what the market dictates the home is worth. Once again you cannot really put a price on memories and years. If you could, homes would be priceless right?
Not doing any Maintenance
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 attractive and inviting as possible. Make all necessary repairs. Clean. Make sure everything functions and looks presentable. A poorly kept home in need of repairs will often lower the selling price of your property and will even turn away some buyers.
Do Not Take every offer seriously
What if you get an offer that’s simply too low? Don’t reject it outright. See if you can negotiate. First of all, you can’t blame someone for testing the market — after all, in today’s market, many buyers are confident that they have the upper hand. Secondly, by entering into negotiations with one party, you’ll gain leverage with other potential buyers. Most importantly, it allows you to tell brokers that your property is in play and sends a message that if someone is interested, then he better present a competitive bid quickly. Just don’t get cocky. During this process, it’s crucial for sellers to set a realistic bottom-line price they’re willing to take, even if it’s several thousand dollars below asking.
Being Home During Showings
One of the major mistakes that owners make is being present in the home when buyers come to look at the house. This is not good. Buyers need to feel free to explore a home and make comments as they do. Your being there can easily intimidate a buyer and make the process awkward and uncomfortable. As with any aspect of the home sale converse at length with your REALTOR®, you will not regret spending the time.
Not Understanding the Contracts
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. Not being aware of the terms in your contract could cost you thousands for repairs and inspections. Know what you are responsible for before signing the contract. Can the property be sold “as is”? How will title restrictions and local zoning laws affect your transaction? Not knowing the answers to these kind of questions could end up costing you a considerable amount of money. Being un-prepared may result in you loosing a potential buyer.