Five Biggest Mistakes When Selling Real Estate

The 5 most common errors when selling real estate

Setting an improper asking price

There is an old saying in Real Estate: Your house is never more exciting than in it's first weeks on the market. Even in a hot real estate market, once a house or condo sits for too long, it becomes stale, and buyers start to wonder: "What's wrong with it?" Setting the asking price too high is the most common cause of this.

Attempting to sell "as is"

This is a common problem in fast real estate markets, but can be a factor anytime. Definitely in slower markets, your home needs to stand out from the competition. Make sure that the paint looks good, all the lights work, there are no tears in the carpets or defective items anywhere. Contrary to popular opinion, buyers are NOT looking to buy your home.....they ARE looking for reasons to scratch it from their list of possibles. Think about this: Buyers have many choices. If they go out to look at 15 properties, naturally they need to eliminate all but one from that list. That is the mindset they are in, and you need to make sure your home stands out in a good way.

Always being there

Buyers, on average, only spend about 15 to 20 minutes examining a house before moving on to the next one. The worst thing you can do is 'hover' around them, trying to be helpful but really just getting in their way. Buyers like to take their time, and that's one reason many of them work with their own real estate agent, who wont push them or rush them. A home seller who is constantly underfoot is an annoyance and this will not help sell your house.

Over-Improving

The opposite side of 'selling as-is'. Don't rip out good bathroom fixtures and replace with new ones, or replace perfectly good flooring with hardwood floors. Only replace defective items and in doing that, don't go overboard. Installing a $30,000 cherry kitchen will almost never allow you to recoup your money, much less see a profit. On the other hand, if your roofing is defective, replace them with good, 15 yr shingles.

Going it alone

Your home is like your baby. The problem with this is emotional attachment, which makes it difficult for you to negotiate. Lawyers have a saying: "A lawyer who defends himself in court has a fool for a client." Doctors generally don't treat themselves, and so home owners should reconsider before trying to sell their own home. Hire a professional real estate expert, who can guide you objectively. In the end, the final decision on price and whether to accept any offers still remains yours.

by: Bo Kauffmann

POST COMMENT

Staging Your Home Just Right 4 Basic First Steps To Buying Your First Home The Many Rewards Of Implementing A Sun Control System In Your Home Home Buying Handbook For Single Women The Best Exercise For A Flat Tummy Size And Shape Of Your Outdoor Deck Find Phone Number Owner - Reveal A Cheaters Secret Quickly Create The Outdoor Space Magnificent With Contemporary Patio Furniture Facts About Foreclosure Home Investing Without Having Any Commitment To Go Beyond Plumbing Expectations - What Are You Left With? Rustic Kitchen Design Finding A Good Real Estate Representative Plumbing Solutions - Kids Dropped Something