Home SELLING MISTAKES Can Cost You Thousands of Dollars ~ Read This to Find Out More Before it’s Too Late!
- Underestimating the Value of a First Impression: When was the last time you stood across the street and really looked at your home? It begins at the street. A really green lawn is helpful, yet arid landscaping in more appropriate in some areas. Paint and re-carpet if necessary. De-clutter inside, pack up everything you’re not using and some things you can live without. You’re going to be moving those things anyway, right?
- Incorrect Pricing for the Market: It’s crucial to understand if you are in a market of declining values and most of us know that prices across the country have declined now for several years. So what’s going on in your immediate area and how does the supply of available inventory (other homes for sale) measure up with the demand?
- Signing a Long-Term Listing Contract with NO Way Out: Agents often ask/expect a listing contract for up to 6 months or more. Request a written performance plan. Most agents work hard and do a good job, yet like everything there are exceptions to most rules. If you’re not satisfied are you able to cancel your listing agreement? If so, are you able to hire another agent to represent you immediately? Remember, get everything in writing.
- Unrealistic Expectations, It’s my Way or No Way: Remember the need to be flexible on your terms and conditions of sale. If they don’t buy yours how many other homes are for sale in the area. Are prices going up, or down? And keep in mind, when considering a buyer’s offer consider all the terms and conditions. Price may be first, however not always foremost, how strong is your buyer? What’s the FICO scoring, move-in dates, built in-contingencies, all crucial aspects worth evaluating. Be open and understand how your home relates to the marketplace.
- Not Understanding the Roles of Others and How they Could Impact your sale. Like it or not, today home inspectors and appraisers play a huge role in your sale. Most sales involve an escrow company. recognize their role of as a neutral third party, the escrow officer follows the instructions from the seller and the buyers alike. That’s why escrow documents are called escrow instructions. Understand who pays for what and how much? Know the roles and players involved in your transaction.
- Thinking Timing Time is on Your Side: Some sellers mistake the importance of a time-line. Contingencies (the occurrence of a stated event which happen before a contract is binding) are applicable in most contracts. Even more so in some states than others. Both buyers and sellers need to be aware of their individual rights and responsibilities when it comes to satisfying these contingencies and disclosures. Failure to fulfill the contingency agreements could result in a non-binding contract by either party and the loss of a sale at the 11th hour, incuding (in some cases) when it comes to disclosure requirement. Stay within all the guidelines and time commitments throughout your contract.
- Thinking All Agents Are the Same or Worse Finding Out You Hired the Wrong Agent: Most consumers think all agents are also Realtors. Not true. Agents are licensed within the requirements of the jurisdiction or state. Realtors are licensed agents who also belong to the National Association of Realtors (NAR), one the the nations largest trade associations. As a member of the National Association, Realtors pledge themselves to act in the best interests of their clients, the consumer. Ask for and follow up on consumer references. Check out “Top 12 Agent Interviewing Questions” on this site for more valuable information.