Avoiding the Seven Most Expensive Errors When Selling Your Home

Whatever the reason for your sale, placing your home on the market always involves a modicum of strain and stress.  After all, your home isn’t just a building.  And it’s not simply a financial investment.  No matter how long you’ve lived in the home, for six months or 30 years, your home is a place of memories.  It’s been the place where everyone you love are always welcome.

Almost inevitably though, the day will arrive when you must move on; and the house can’t move on with you.  When the time comes to sell you home, it can feel emotionally overwhelming at first, but it’s important to reflect, and appreciate the past, while preparing to create a bright and happy future.

No matter what your motivations are for selling your home, I can help you accomplish this goal without the dreaded frustrations and disturbances in your life.  After all, in the end, the target is always the same: to sell your home for the most amount of money and in the least amount of time.  This post will hopefully answer some questions you may have about the home selling process.

Don’t make the the errors made by so many other sellsers..  Take advantage of this report, and learn other people’s mistakes and save time, money, and frustration.

As you prepare to sell your property, there are a great many things to consider to be sure that you’re prepared and organized.  Before getting started, take a look at these seven common, expensive errors and make sure that YOU don’t make these same mistakes.

Knowing the potentially costly problems that can ariase while selling your home is the best way to prevent them BEFORE they happen!

Error #1:

Failure to Prepare Your Home’s Appearance for the Buying Eye

When buyers look at a property, they are looking for a home, NOT a house. Impressions and emotions are vital to a buyer’s decision-making process. They are seeking a certain feeling, a place in which they’d be comfortable living. So if you want to sell your home, give the buyer that feeling that they are “home.” Let’s examine the emotional factors influencing the choices made by the buyer. Emotions are one of, if not the most important factor for swaying a buyer’s opinion for or against a property. It is the emotional response that decides whether the logic should start to function. Remember, buyers will be looking at many homes, often professionally decorated homes. So it’s critical to make your home compete, to make the best impression possible.

 

A Home for Living and a Home for Selling Are Completely Different Environments

To sell your home, it must look very different from the way it looks when you are living there. Think about it; when you watch your favorite sitcom, the family’s house doesn’t look like yours, but you automatically believe that it functions that way. It has been specifically designed to make your eye see it as a regular, everyday, livable home. What makes your job a bit more challenging than the sitcom set designers is that you have three other senses to appeal to. Don’t worry though; it’s easier than you think! Here are a few tried and true tips for showcasing your home for sale:

  • The first impression is the decision maker for a buyer. The first impression is the one that will last, and it cannot be made twice. Make sure you know what a buyer is looking for. Put yourself in the buyer’s shoes before the buyer ever takes a step inside. Get into your car go for a quick drive and then return to your home as if you were coming to see it for the first time. Take a good look at the house and the property. How does it look? Is the landscaping neat? Are there stains in the driveway? Does it look cluttered? Remember, the buyer is seeking the appearance of a well-maintained property. Give it to them!
  • Look at the outside of your home. How is the paint, the trim, even the color – is it chipping, fading, out of style for two decades? Does the roof look healthy? What is the first thing you notice as you approach your home?
  • Tour your own home. Concentrate on the impression of your senses: smell, touch, sight, and hearing. Walk through each and every room while focusing on these senses. Be sure to keep an eye and nose ready for flooring and carpet stains and odors.
  • De-Clutter. If it’s not essential, put it away. Pack up any extra furniture, appliances, dishes and knick-knacks. Your home should appear neat, fresh, orderly and be easy for the buyer to imagine moving their belongings into. The buyer will expect the garage to be full of storage, but it will only pass the test if it is also clean and neat.
  • Give your home a thorough and deep cleaning. You may even want to consider hiring a professional cleaning service.  For the difference it makes in rooms, especially the kitchen, the bathrooms and the bedrooms, you’ll be assured a faster sale and a better selling price for your home.
  • Pets can often be the anti-sale. Make sure that they cannot be seen or smelled by the buyer. Take the pet out of the house when the buyer is there, and take extra care to remove the pet’s odor. Remember, you’re accustomed to it, but it is very present to the buyer who is nitpicking for their future home.
  • A bright and well-lit room is a must for buyers. Before the buyer gets there, open all blinds and curtains and turn on all lights. Note: at night, do the same thing, but keep the blinds and curtains closed in front for privacy while keeping them open to the pretty parts of the yard, thus making your living space look larger.
  • Turn off all appliances and noise-makers such as the television, the radio, ice-makers in your fridge (if you have one) and anything that will distract the buyer’s attention from your home.

 

Error #2:

Selling Your Home for the Wrong Price

Of course, every seller wants to make as much money as possible when they sell their home, and it is natural to lean towards a high price, with the intention of reducing the price in the future if you don’t attain that dream price. However, listing your house for a price that is much too high will usually result in selling your home for far less than if you had attempted to sell at the market price to begin with. The reason for this is simple: Price is usually a paramount factor for buyers when searching for a new home.  If your property is listed out of the price range for buyers who are most likely to purchase your listing, it’s unlikely they will ever step foot in your home, because they couldn’t afford to purchase it at the listed price.  This is commonly referred to as “pricing yourself out of the market.” To make matters worse, Real Estate Agents have a natural tendency to want to show their clients the newest homes on the market in hopes of snatching up a gem before anyone else has the chance to act.  This means that even when you reduce your listing price after 30 days of being on the market with no offers, Agents may automatically look past your property because it has “gone stale” so to speak.  You’ll have to consider a deep discount on price to regenerate buzz around your property.  You’re now selling your home for much less than you could have if you had priced it correctly from the beginning. Keeping your house on the market for that long has also cost you money. You’d pay more interest on your mortgage, more property taxes, insurance, and all the other carrying costs associated with owning a house that is waiting to sell. Not to mention the added stress of having your home on the market. What’s that worth?

Fact: As the Seller, You are Solely Responsible For The Price and the Time it Takes to Sell Your Home

Overpricing will undoubtedly increase the length of time it takes to sell your home. Consequently, overpricing also leads to the increase in your carrying costs of the unsold home. That’s why I’ve created a program for you, to provide a complete, no obligation evaluation of your home. I provide you with a real-world home value analysis. This analysis is based entirely on verifiable facts and figures that will be explained to you at every step. I will also carefully inspect your home to identify any areas where investing a small amount of money will produce a definite advantage in the sales price. No tricks; no false hopes, no puffed up schemes. I will share with you the facts about today’s market so you can determine what your home will sell for. I will show you precisely how to “dress up” or “stage” your home in order to appeal to the vast market. My exclusive marketing plan will assist you with:

  • Asking the right price to maximize profitability.
  • Define and compare market value between homes.
  • Marketing your home to its maximum exposure.
  • Protecting yourself from crime when selling your home.
  • Handling buyers during a showing, to gain the advantage for the highest price.
  • Negotiating the best sale and terms on your behalf.

Understanding these issues will allow you to assign the best price to your home for the fastest and most profitable sale. It will also give you the knowledge you need for buying homes in the future, as you will know the perspective of the buyer, the seller and the market.

Error #3:

Placing a Limit on the Exposure of Your Home

Everyone knows that the most evident of marketing devices in real estate – classified ads and open houses – have their advantages, but they are limited in their rewards. To be successful when marketing your home requires a great deal more. You may be surprised to know that less than 1 percent of homes are sold as a result of an open house. Real Estate Agents use open houses as a tool for attracting buying prospects, not to actually sell the house. Equally as surprising, is that less than 3 percent of people have purchased their home because they saw it in an ad. It is precisely for that reason that the most competent Agents will use a wide range of marketing techniques, which emphasize the unique marketing solutions for your home and your area. I have an unparalleled marketing plan for selling your home. If you like, I’ll share with you the elements of my strategy, at your request and convenience.

Error #4:

Working Under the Impression that Your Appraisal Is Equal to the Market Value of Your Home

What an appraisal provides you with is a statement of value for a reason entirely separate from the actual selling value of your home. The purpose of an appraisal is usually for financial institutions that desire mortgage and loan information. Therefore in an appraisal prepared for a money lender, there may be issues other than simple market value that will come into play. They have different goals in their appraisal. On the other hand, a buyer will look at factors such as foreclosures, distressed sales, bankruptcies, divorces and fluctuations in the area. The perceived value by the buyer will therefore be somewhat different than that of a financial institution. To assist you, I can provide you with all for the information you require to make a reliable, realistic valuation of market value for your home. To do this, I will gather information about your specific area for: recently sold homes (market history), pending homes or homes under contract (market activity), homes for sale (competition) and expired listings (market rejects). I will answer any questions you may pose about your own house and its value, using true market facts.

Error #5:

Being Unaware of Your Rights And Obligations

The laws and regulations of real estate can be complex if you are uninformed or you do not understand your rights and responsibilities. A contract for the sale of your property is just that, a contract. It is therefore legally binding and not to be taken lightly. If you are unaware of what you are signing, or if you do not understand the contents of the contract, you can run into some very serious problems with the sale of your property, and resolution of such problems can be very costly. Before you sign anything, know what repairs and closing costs you will be bound to within the terms of the contract. You must know if your contract allows you to sell the home in its current state, or if there are issues such as deed restrictions or local zoning restrictions that will alter the rules of sale for your property. Also, be sure to have a proficient review of your title, to be sure there are no “Clouds on Title” inhibiting you from a sale. If left up to you to remedy these issues, you may spend up to thousands on unanticipated legal bills, fines, contractors, and other costs. A competent Real Estate Agent can help you identify and avoid these issues before they become “problems.”

Error #6:

The Signing of a Listing Agreement Without a Way Out!

Real estate agents almost universally have good intentions for assisting you in selling your home. But the life circumstances of a real estate agent can greatly affect those intentions. Personal problems, a career change, money issues or a decision to retire are all possible occurrences that could mean that the agent isn’t looking out for your best interests. Maybe you’re not getting the exposure you expected. Or perhaps you haven’t heard from your agent in a while and cannot seem to contact them. What then? You will, of course, want to fire your agent, should this occur. And you should be able to…but the contract you have signed binds you to the broker, not the agent him/herself. Therefore, if you are unhappy with one agent, the broker may assign another one. Someone you have not personally selected, nor someone you desire. But because of your contract, you remain trapped with that agent and that broker until the contract expires. Quite an expensive and frustrating error! Protect yourself! Here’s how:

  • Be extremely choosy and careful when selecting a Real Estate Agent
  • Be prepared for the worst, and make sure that your listing agreement allows you to cancel if it is your wish.

That is precisely why I offer a 100 percent guarantee of my services. My priorities are your priorities. I want your home to sell for as much as possible, as fast as possible. And, if at any time, you should be unhappy with my services, don’t hesitate to let me know. If I cannot remedy the issue to your satisfaction, you are well within your rights to fire me! No questions. No hassles. No headaches. Ever!

 

Error #7:

Choosing the Wrong Real Estate Agent

All Agents are not created equal, so it’s essential to find the one who can best suit your needs. A Real Estate Agent with vast experience and extraordinary professionalism usually costs the same as one with little or even no experience, or one who has compromising standards. Find out about these issues before getting started; before signing anything. Competence and experience will certainly mean the difference between a higher negotiated sales price and the loss of money, selling in a small amount of time or a long, dragged out process. It is the difference between a pleasurable experience and a nightmare. Don’t let just anyone take responsibility for the sale of your home. It is, after all, the most important financial transactions you will make in your lifetime. That is why I take the sale of your home so seriously. It is why I have created the customized home marketing program strategy to best execute the sale of your home.

Why Am I Your Best Choice?

Please consider the following information about me and why I would be an excellent choice for helping you sell your home as quickly and as profitably as possible.

  • I am an expert in your market area.
  • As a Real Estate Agent with Better Homes and Gardens Real Estate – Mason McDuffie, I am part of an organization with a rock-solid reputation that has been serving our community for more than 125 years.
  • All Better Homes and Gardens Real Estate listings are available online through major national and local real estate portals, exposing your home to hundreds of thousands of potential buyers.
  • I know what people are looking for when they look at houses in your neighborhood. I know how to speak to your buyer’s desires.
  • I have a highly successful marketing plan and will develop a customized strategy designed to procure a favorable sale for your home.
  • I will create a comprehensive evaluation of your home and work with you to develop an effective pricing strategy.
  • Advise you how to prepare you property for real estate professional previews and buyer showings.
  • Communicate with you consistently throughout the transaction. I will serve you with honesty and integrity throughout your real estate transaction. If you need to reach me, I’m there for you.
  • Negotiate through the buyer’s agent, and handle possible counter offers, to reach a final agreement that is favorable to you.
  • Work to protect your interests through the completion of the transaction.
  • Best of all, my work is guaranteed. I will do everything I can to make you happy, and if you’re not pleased, you’re welcome to dismiss me.

All Real Estate Agents Are NOT The Same

I would like to provide you with a complimentary Comparative Market Analysis. It’s absolutely FREE, with no obligation whatsoever:

  • I personally conduct a thorough evaluation of your home, providing you with real-world facts, presented in an easy to understand format.
  • I will tour your home to identify issues that could negatively affect your selling price. I’ll then create for you a checklist of strategies designed for the unique situation of your home, in order to sell it for the most money possible.
  • I share with you my premium exposure marketing plan.
  • My plan supplies you with tricks of the trade to promote your home properly, to best handle buyers, to avoid crime, and much, much more.

Waiting Could result in a Difference of Thousands of Dollars!

Don’t wait! Contact me and I will be happy to answer any of your questions, send you any information, and sell your home quickly and easily!

From the first time home buyer to the savvy investor – from the seller with equity to the seller underwater and needing options – I am here for you.



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