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Making
a mistake in selling a home can cost you
hundreds or thousands of dollars in lost
profit. Often home sellers make the same
mistakes over and over. Avoiding these mistakes
is easy and takes little time and effort
on your part. Take the time with your home
sale and follow the guidelines in this report.
1. Distress
Selling: At
times, selling quickly is unavoidable.
That’s when knowing the right techniques
to sell your home without looking desperate
and making yourself a target for low bidders
really pays off. Know all there is to know
about the market before listing and work
hand in hand with the right real estate
professional. Ensure that you are not settling
for the first offer through the door.
2. Best
Home in the Neighborhood: Your
home is one of your most personal possessions.
Don’t be blind to flaws and needed cosmetic
improvements. This will cause overvaluing
of the home, hurting it’s chances to be
sold. Listing with the right agent gives
you a well informed third eye that will
help you price your home at a fair market
price.
3. Limited
Home Viewing: Buyers
want to view a home on their own time schedule.
Unfortunately their time schedule does
not always coincide with your time schedule.
Leave a lockbox or key with your agent
so your home can be shown when you are
not around. You never know if the one who
got away was your buyer.
4. Restrain
Emotional Decisions: Don’t
allow a few hundred dollars to ruin a sale.
That money will mean very little to you
in the long run. Take a look at the big
picture and react rationally. Use sound
business judgment!
5. Make
Cosmetic Improvements: Prospects
make up their minds within the first twenty
minutes. First impressions can make all
the difference in selling your home. Spending
$1,200 on new carpet might add another
$4,000 to the price of your home. Get an
objective point of view from your real
estate professional. They can provide you
with a list of items that will maximize
the profit of your home sale.
6. Disclose
Property Flaws: Property
disclosure laws require sellers to list
any flaws required by your state. If you
are unaware of flaws or attempt to cover
them up, you risk losing the sale and finding
yourself in court. Get professional assistance
from your agent who can introduce you to
qualified inspectors and ensure the smooth
sale of your home.
7. For
Sale By Owner: Most
homeowners who decide to sell their own
home do so because they believe they can
save the commission paid to the real estate
agent. Everything has a price and selling
a home carries a high one. The enormous
amount of time and effort required to sell
a home often surprises the "For Sale
By Owner." Furthermore, many costly
mistakes can be avoided with the right
guidance.
8. Refusing
to Trust Your Agent: Would
you tell a physician that you’ve decided
to run your own tests and come to your
own diagnosis? By choosing the right Realtor,
you can relax and trust their judgment.
The right agent is a valuable team member
who will protect your best interests and
make your sale as profitable as possible.
9. Know
Your Market: Most
homes that do not sell in their first listing
period are priced too high. Conversely,
most homes that sell quickly are priced
too low and cheat the homeowner out of
profits. You need to understand the market
and evaluate the value of your home based
on fact, not gut instinct or conventional
wisdom. A professional agent knows the
market, just as you know the market for
your business.
10. Choosing
a Realtor Based on Personal Relationships: Home
sellers often pick a friend or family member
as their agent. Choose an agent with a
strong track record and aggressive Marketing
Plan. A top producer knows the market well
and can generate many buyers. Selling your
home is one of the most important decisions
you’ll ever make! Base it on good, sound
business sense and the rewards will add
up.
Before
you make one of your most important decisions
regarding your home sale shouldn’t you become
as informed as possible? By aligning yourself
with a top agent you ensure that all the
important issues and seemingly insignificant
but....very important....details are handled
professionally. Your home sale should not
be a grueling ordeal. The more informed you
are, the better chance you have of making
a sound business decision.
The
purpose of this newsletter is to stimulate
thought for our clients and professionals
with whom we network. One should consult
with a qualified real estate professional
prior to implementing any real estate
planning strategies. If you are a
legal, insurance, tax or mortgage professional
receiving this newsletter or know of one,
please contact our office to introduce
yourself and your services to us. We
are always seeking to grow our referral
network and expose professional services
to our client base.
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