Mistakes Sellers Should Avoid in Today's Market
Not staging a home
Making a home presentable helps a home sell quicker and for more money. Sellers sometimes presume that when the market is hot, their home will sell regardless. While it may still sell, a buyer’s perception of value will be effected by how the home is presented.
Pricing too high
When you hear about bidding wars and homes selling for over asking price, it’s easy to over inflate your home’s value. In any type of market, an overpriced listing will sit for longer periods of time, become stale and go through price reductions. Overpricing is particularly dangerous in a hot market as buyers will assume that something is seriously wrong with a property if it does not sell quickly.
Consult with your Realtor on a reasonable asking price that will attract the MOST buyers. The more interested buyers you have, the more your home will sell for!
Not Taking Your First Offer Seriously
In a seller’s market, it’s easy to think that better offers will come. Yet, 90 percent of the time, your first offer is your best offer. That’s because the buyer who makes the first offer loves your home and is highly motivated to buy. Holding out for a better offer is risky and can sometimes lead to a lower sales price in the long run.
Listening to outside advice
When buying or selling a home, there are always multiple sources of advice and everyone has an opinion about everything. It’s important to keep in mind that although your friends and family may have your best interests at heart, they may have bought and sold in different communities, at different times, and under very different circumstances. No two real estate deals are the same. Your agent works in the real estate market every single day and his/her job is to protect your interests, help you get the best value, and ensure that you are a happy customer who will refer future business!