- Improper Pricing – Setting the price too high and your house will be on the market unsold and develop the identity of a “problem” property, and may get it stigmatize. Real estate agents and the general public will wonder, if there is something wrong with it. On the other side, if you price it too low you may be losing thousands of dollars in profits. Setting the appropriate price is critical. Setting the proper price for your house is the single biggest factor that will determine the success or failure of selling your house.
- Not Providing Easy Access – Accessibility is a major factor in selling your house. A lock-box is best, while appointment only is the most restrictive. The easier you make it to access your house for real estate agents to show, the more showings you will get and the odds will be better of finding someone willing to pay top dollar for it. Buyers who can’t see your house will go on to see others home and purchase elsewhere.
- Bad Housekeeping – The prospective homebuyer’s first impression of your house is most important. A large amount of house sales have been lost to landscaping that is not taken care of, bad stains, dirty kitchens, unpleasant orders, etc. Look at your house as a buyer would and clean it from top to bottom.
- Not Making Repairs – Often even small repairs will get you as much as three to five times the cost of the repair at the time of sale. Often times it is less costly to fix things, rather than have buyers see faults in your house. Sometimes a small repair can make the difference between a closed sale at top dollar and a house the becomes “stale” and sits on the market for months.
- Poor Showing Techniques – Your house should be kept neat and clean, declutter your house to create a sense of spaciousness, eliminate unpleasant orders. Over stuffed closets, too much items on the kitchen countertops, too much furniture in rooms could make the room look small, etc.
- Relying Only On Traditional Sales Methods – Sellers who are using innovative and new strategies in attracting buyers will outperform those who use only the traditional methods. Advertising your house on Facebook, Twitter, Linkedin and Youtube, advertising your house on mobile responsive websites (for smart phones), providing a single property website, getting your house on blogs, advertising on Craigslist, etc.
- Making Selling Decision Based On Emotion – You must realize the selling your house is a dollars and cents business transaction. Don’t let your emotional ties to your house affect your judgement. Buyers are not buying your home, they are buying your house to make it their home.
- Not Understanding Market Conditions – The market conditions for houses are just like the stock market it is a supply and demand issue. You must know if you are in a seller’s market (more demand for houses (buyers) than the supply) or a buyer’s market (more supply of houses than the demand). A six month inventory of houses on the market is considered a balanced market.
- Picking The Wrong Real Estate Agent – The vast majority of all houses are sold by Real Estate Agents, but notall Real Estate Agents are the same. The Agent’s experience, knowledge and marketing plan can have a huge impact on your success. Signing with the right Agent can make all the difference in the world in getting your house sold at the highest possible price, in the shortest time with the fewest problems.
Don’t fall victim to these costly mistakes!
Content courtesy of http://www.realtytimes.com
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