When selling your home there are some costly mistakes that sellers frequently make. The following is a list of mistakes you can easily avoid, and suggestions to help sell your home. Discuss this list with one of our real estate professionals
Placing your home on the market before it is ready. Do not be impatient to sell and put off needed pre-sale work. Thoroughly clean the home, the garage and do the yard work and keep it that way during the time the home is on the market. Fresh paint and new carpet can sometimes be a real plus. Removing all unnecessary clutter and knickknacks will make your home more attractive to potential buyers.
Over pricing your home based on what you would like to net from the sale. This pricing strategy typically fails. The seller controls the "asking" price, but the market controls the "selling" price. Pricing your home over it’s market value drives away buyers. Remember the overwhelming majority of all homes are sold by Realtors and if your home is overpriced, few or no agents will show your home to their buyers. After all, they are Realtors, and it is their job to know the local market conditions and home values. If your home is above market, why waste the time? Their time is better spent showing homes that are priced realistically.
Avoid the "Over Pricing Trap". If you start out with a high sales price, then drop it later -- your home is "old news." You will never be able to recapture that flurry of initial activity you would have had with a realistic price. Your home will take longer to sell and once your home sits on the market awhile, it is harder to get a good offer. Potential buyers will think you are getting desperate, or there is something wrong with the property, so they will make lower offers, or no offer at all. By overpricing your home in the beginning, you could actually end up settling for a lower price than you would have normally received. Even if your home miraculously sells over market, it will almost certainly fail to appraise, fall out of escrow and put you even further behind in the market.
Hiring a real estate agent based on non-business factors, like hiring a "friend of a friend" or the "neighbor’s kid" or a "part timer". Selling your home is one of the most important financial transactions in your and your family’s lives. Make sure you’re hiring a qualified full time licensed professional real estate agent with a proven track record and at least 10 years of experience. Also it is important to protect yourself and your assets by making sure that your agent has a well established business office* located in your area and not some fly-by-night internet scam artist operating from who knows where.
Beware of agents engaging in a questionable sales practice called "Buying a Listing." He/She "bought" the listing by suggesting you will be able to get a higher sales price than other agents recommend, a price that can not be supported by a Comparative Market Analysis. Most likely, he/she knows that your home will never actually sell at that price, their intention from the beginning is to just get you to sign a listing agreement and then eventually talk you into lowering the price. Thus misleading you into the "Over Pricing Trap" mentioned above.
Resist getting emotionally involved in the sale. The house needs to be prepared as a commodity, marketed as a commodity and priced as a commodity, in a professional manner.
Keeping the house dark inside and the curtains closed up is a common error. It is important to keep all the window coverings pulled back to let in as much natural sunlight a possible, leaving a few windows open for fresh air when weather permits. During the hours your home is available to show turn on all the lights. This will give the house a bright, open and airy feel.
Taking over from an agent showing your home and conducting the home tour yourself is a mistake. Buyers do not feel comfortable when the seller is present and will not bring up important issues that a professional real estate agent has experience resolving. Resolving issues right then and there, help a buyer make the decision to buy. If you are concerned that agents may not point out all of your home's features to potential buyers, have your agent print brochures listing all of the homes features and display them in a conspicuous place. When possible sellers should leave, take a walk or a drive and come back after the buyer and agent have left.
Trying to cover up problems, or failing to disclose them is a big mistake, a very BIG mistake. California has a mandatory disclosure form, make sure to use it wisely. One of our real estate professionals can guide you through this and all the other mandatory disclosures.
Avoiding these common mistakes is not hard, please remember our experienced real estate professionals are here to help you and we have been successfully selling Real Estate in the area for over 30 years.
* Note: All Real Estate Brokers licensed by the Department of Real Estate are required to have a definite place of business within the State of California, which shall serve as an office for the transaction of business. (B&P §10162)
What's Your Home Really Worth? Free Professional Market Analysis
Call Today: (714) 524-7688 ext. 102
Zane Burke Salesperson "Top Producing Area Specialist" Carbon Creek Realty
100 Olinda Place
Brea CA, 92823 Office: (714) 524-7688 ext.102 FAX: (714) 524-9694 Email: firstname.lastname@example.org