Eight common seller mistakes

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  1. Karen Scopetski
    Karen Scopetski
    PREMIER AGENT
    “Your Hometown Realtor”
    Cell: (508) 380-0112
    [email protected]
    www.karenscopetski.com

    Basing the asking price on needs or emotion rather than market value. Many times sellers base their pricing on how much they paid for or invested in their home. This can be an expensive mistake. If your home is not priced competitively, buyers will reject it in favor of other larger homes for the same price. At the same time, the buyers who should be looking at your house will not see it because it is priced over their heads. The result is increased market time, low-priced offers and an unwillingness to negotiate. An accurate market evaluation is the first step in determining a competitive listing price.

 

  1. Failing to “showcase” the home. A property that is not clean or well-maintained is a red flag for the buyer. It is an indication that there may be hidden defects that will result in increased cost of ownership. Sellers who fail to make necessary repairs, which don’t “spruce up” the house inside and out, and fail to keep it clean and neat, chase buyers away. Buyers are poor judges of the cost of repairs, and always build in a large margin for error when offering on such a property. Sellers are always better off doing the work themselves ahead of time.

 

  1. Over-improving the home prior to selling. Sellers often unwittingly spend thousands doing the wrong upgrades to their home in the mistaken belief that they will recoup this cost. If you are upgrading your home for your personal enjoyment – fine. But if you are thinking of selling, you should be aware that only certain upgrades to real estate are cost effective. Always consult with your Realtor BEFORE committing to upgrading your home.

 

  1. Choosing the wrong Realtor or choosing for the wrong reasons. Many homeowners list with the real estate agent who tells them the highest price. You need to choose an experienced agent with the best marketing plan to sell your home. An agent with many successfully closed transactions usually costs the same as someone who is inexperienced. That experience could mean a higher price at the negotiating table, selling in less time, and with a minimum amount of hassles.

 

  1. Using the “hard sell” during showings. Buying a home is an emotional decision. Buyers like to “try on” a house and see if it is comfortable for them. It is difficult for them to do if you follow them around pointing out every improvement that you made. Good Realtors let the buyers discover the home on their own, pointing out only features they are sure are important to them.

 

  1. Failing to take the first offer seriously. Often sellers believe that the first offer received will be one of many to come. There is a tendency to not take it seriously, and to hold out for a higher price. Experienced Realtors know that more often than not the first buyer ends up being the best buyer, and many sellers have had to accept far less money than the initial offer later in the selling process. Real estate is most sale-able early in the marketing period, and the amount buyers are willing to pay diminishes with the length of time a property has been on the market.

 

  1. Not knowing your rights and obligations. The contract you sign to sell your property is a complex and legally binding document. An improperly written contract can allow the purchaser to void the sale, or cost you thousands of unnecessary dollars. Have an experienced Realtor who knows the “ins and outs” fully explain the contract you are about to sign.

 

  1. Failure to effectively market the property.Good marketing opens the door that exposes real estate to the marketplace. It means distinguishing your home from hundreds of others on the market. It also means selling the benefits, as well as the features. The right Realtor will employ a wide variety of marketing activities, emphasizing the ones believed to work best for your home.

 

Karen Scopetski

Premier Agent

Coldwell Banker Residential

508-380-0112 Cell

[email protected]

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