5 Most Expensive Mistakes Smart People Make When Selling Their Home…
Selling a home is an art these days…. the contract is a science. Working with the right agent is very helpful provided he/she speaks up and gives you good valuable advice during the process of selling your home. I have learned over the years there are 5 costly mistakes “smart” people make when selling their home….so I thought I would share them.
Mistake #1: Basing the decision regarding the asking price for the home on “needs” or “emotion” rather than market value. I have seen there is often a great urge by home owners to price a home based on how much they paid or invested in their home. I think we all know overpriced homes take much longer to sell and usually net less money in the end.
Mistake #2: Failing to “Show-Case” their home. You only have one shot at a “first impression”. From my experience every $100 dollars in needed repairs not done reduces an offer by $300-500 dollars. Staging a seller’s home has almost become mandatory these days….particularly when competition from other nearby and similar homes is fierce.
Mistake #3: Sellers trying to Sell their own home when buyers come to see it. Enthusiastic home sellers make a big mistake when they follow a prospective buyer around to give them first hand details about their wonderful home. This well meaning seller tactic usually has a negative impact on the buyer. I have found buyers want quiet, uninterrupted time to view a home where they are free to express themselves when the need arises.
Mistake #4: Choosing the wrong agent or choosing him/her for the wrong reason. I have observed form my own experience that sellers sometimes choose an agent based on the high price they can get for their home. What counts in my view is the marketing strategy and the agent’s experience and track record that in the end gets the most for a seller’s home.
Mistake #5: Not knowing all of a seller’s legal rights and obligations. I think we would all agree real estate law is complex. The real estate contract is a legally binding contract. If the seller executes this contract without a full and thorough understanding it can potentially cost thousands of dollars and much heart ache.
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