1. Overlooking a critical detail
Good preparation is essential for a successful home sale. That includes gathering all the facts about your home and the marketplace BEFORE putting it on the market for sale. Be prepared to answer buyers' questions about the square footage, the property taxes, the average utility bills, the type and age of roofing, the local schools, community covenants, and more. Make sure your home is clean, uncluttered, in good repair, neutral, and "staged" for showing at its best. The more time you spend preparing to sell, the less time it will be on the market.
2. Relying upon open houses and print
A buyer must know your home is available for sale before he will purchase it. A good real estate agent will create an accurate and effective buyer-profile for your home, and will target marketing efforts to those buyers. Face it, if a qualified and motivated buyer spots the sign in front of your house or calls on your ad, it will be pure luck!
3. Being unavailable to show your home
No one is going to buy your home without first seeing it. Buyers must be able to inspect your home at THEIR convenience, so you should make arrangements with your employer for a more flexible schedule until your home is sold. If you list your home with a licensed real estate agent, he or she will handle all inquiries and appointments while you maintain your normal routine.
4. Allowing "anyone" into your home
How will you minimize the possibility of unqualified or unscrupulous strangers coming into your home? I address this concern by requiring my buyer-clients to be pre-approved by a lender-member of my professional team who verifies the prospective buyer's identity, home address, employer, and financial qualifications. I'm optimistic that most axe-murderers, rapists and robbers are not going to allow this vigorous personal scrutiny.
5. Overpricing or underpricing your home
Pricing your home is both an art and a science. The science of home pricing begins with gathering data about recent sales in your area. (For a snapshot view of recent sales near your home, visit http://www.margaretwoda.com/hvalue.shtml.) The art of home pricing involves the many other factors in today's marketplace: politics, economy, weather, season, and competition, for example. You need to balance the home sale data with these other factors to determine the likely selling price for your home.
6. Appearing too anxious when you follow-up
I could share countless stories with you of sales that resulted directly from my follow-up calls after a buyer inspected my listing and initially ruled out the property. You MUST obtain feedback from any prospective buyers and agents who inspect your home. Yet you must be careful not to sound too highly-motivated, because that could compromise your position in any negotiations. For this reason, it is helpful for a third party handle the follow-up.
7. Making unnecessary selling concessions (or failing to make necessary ones)
You must determine in advance what your bottom line is on price, timing, inclusions and exclusions. Then you must decide how flexible you can be on any of these considerations. You must know the line you cannot cross without seriously compromising your home-selling goals. You must not be afraid to counter-offer. At the same time, you must strongly advocate for your own best interests and know when it's "best" to let a buyer walk away.
Remember, you will be competing with thousands of professional real estate agents as well as other home owners. You can't afford to make mistakes in your home sale. If you have any questions about selling your home, you may find answers on my website. Or feel free to contact me - whether you live in Maryland or Anywhere, USA.
Feedback or more information:
- Email: mwoda@remax.net
- Website: www.MargaretWoda.com
- Crofton Maryland Real Estate
7 Home Seller Mistakes to Avoid
Copyright 2006. All rights reserved. Margaret Woda
2 comments:
Margaret Woda recently listed and sold my home in Annapolis, MD.
When it comes to 'target marketing' Margaret is the best! We have a unique property and if not for Margaret's expertise in the field of marketing our house would not have sold so quickly and to such an eager, qualified buyer.
Thank you Margaret!
Jeff Johanesen Towson, MD
Margaret Woda recently listed and sold my home in Annapolis, MD.
When it comes to 'target marketing' Margaret is the best! We have a unique property and if not for Margaret's expertise in the field of marketing our house would not have sold so quickly and to such an eager, qualified buyer.
Thank you Margaret!
Jeff Johanesen Towson, MD
Post a Comment