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Seven Selling Mistakes
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The original author is not known. It is not our intention to infringe upon copyrighted material. If you are the original author of any of these articles, please let us know so that we may provide
appropriate credit. All articles come from out side sources and should be credited accordantly. The information presented was taken from a open, no cost public venue and release in the same
manner.
appropriate credit. All articles come from out side sources and should be credited accordantly. The information presented was taken from a open, no cost public venue and release in the same
manner.
Seven Selling Mistakes
Every seller obviously wants to get the most money for his or her product. Ironically, the best way to
do this is NOT to list your product at an excessively high price! A high listing price will cause some
prospective buyers to lose interest before even seeing your property. Also, it may lead other buyers to
expect more than what you have to offer. As a result, overpriced properties tend to take an unusually
long time to sell, and they end up being sold at a lower price.
Mistake #2 -- Mistaking Re-finance Appraisals for the Market Value
Unfortunately, a re-finance appraisal may have been stated at an untruthfully high price. Often,
lenders estimate the value of your property to be higher than it actually is in order to encourage
re-financing. The market value of your home could actually be lower. Your best bet is to ask your
Realtor for the most recent information regarding property sales in your community. This will give
you an up-to-date and factually accurate estimate of your property value.
Mistake #3 -- Forgetting to "Showcase Your Home"
In spite of how frequently this mistake is addressed and how simple it is to avoid, its prevalence is still
widespread. When attempting to sell your home to prospective buyers, do not forget to make your
home look as pleasant as possible. Make necessary repairs. Clean. Make sure everything functions
and looks presentable. A poorly kept home in need of repairs will surely lower the selling price of your
property and will even turn away some buyers.
Mistake #4 -- Trying to "Hard Sell" While Showing
Buying a house is always an emotional and difficult decision. As a result, you should try to allow
prospective buyers to comfortably examine your property. Don't try haggling or forcefully selling.
Instead, be friendly and hospitable. A good idea would be to point out any subtle amenities and be
receptive to questions.
Mistake #5 -- Trying to Sell to "Looky-Loos"
A prospective buyer who shows interest because of a "for sale" sign he saw may not really be
interested in your property. Often buyers who do not come through a Realtor are a good 6-9 months
away from buying, and they are more interested in seeing what is out there than in actually making a
purchase. They may still have to sell their house, or may not be able to afford a house yet. They may
still even be unsure as to whether or not they want to relocate.
Your Realtor should be able to distinguish realistic potential buyers from mere lookers. Realtors
should usually find out a prospective buyer's savings, credit rating, and purchasing power in general.
If your Realtor fails to find out this pertinent information, you should do some investigating and
questioning on your own. This will help you avoid wasting valuable time marketing towards the wrong
people. If you have to do this work yourself, consider finding a new Realtor.
Mistake #6 -- Not Knowing Your Rights & Responsibilities
It is extremely important that you are well-informed of the details in your real estate contract. Real
estate contracts are legally binding documents, and they can often be complex and confusing. Not
being aware of the terms in your contract could cost you thousands for repairs and inspections. Know
what you are responsible for before signing the contract. Can the property be sold "as is"? How will
deed restrictions and local zoning laws will affect your transaction? Not knowing the answers to these
kind of questions could end up costing you a considerable amount of money.
Mistake #7 -- Limiting the Marketing and Advertising of the Property
Your Realtor should employ a wide variety of marketing techniques. Your Realtor should also be
committed to selling your property; he or she should be available for every phone call from a
prospective buyer. Most calls are received, and open houses are scheduled, during business hours, so
make sure that your Realtor is working on selling your home during these hours. Chances are that
you have a job, too, so you may not be able to get in touch with many potential buyers.
do this is NOT to list your product at an excessively high price! A high listing price will cause some
prospective buyers to lose interest before even seeing your property. Also, it may lead other buyers to
expect more than what you have to offer. As a result, overpriced properties tend to take an unusually
long time to sell, and they end up being sold at a lower price.
Mistake #2 -- Mistaking Re-finance Appraisals for the Market Value
Unfortunately, a re-finance appraisal may have been stated at an untruthfully high price. Often,
lenders estimate the value of your property to be higher than it actually is in order to encourage
re-financing. The market value of your home could actually be lower. Your best bet is to ask your
Realtor for the most recent information regarding property sales in your community. This will give
you an up-to-date and factually accurate estimate of your property value.
Mistake #3 -- Forgetting to "Showcase Your Home"
In spite of how frequently this mistake is addressed and how simple it is to avoid, its prevalence is still
widespread. When attempting to sell your home to prospective buyers, do not forget to make your
home look as pleasant as possible. Make necessary repairs. Clean. Make sure everything functions
and looks presentable. A poorly kept home in need of repairs will surely lower the selling price of your
property and will even turn away some buyers.
Mistake #4 -- Trying to "Hard Sell" While Showing
Buying a house is always an emotional and difficult decision. As a result, you should try to allow
prospective buyers to comfortably examine your property. Don't try haggling or forcefully selling.
Instead, be friendly and hospitable. A good idea would be to point out any subtle amenities and be
receptive to questions.
Mistake #5 -- Trying to Sell to "Looky-Loos"
A prospective buyer who shows interest because of a "for sale" sign he saw may not really be
interested in your property. Often buyers who do not come through a Realtor are a good 6-9 months
away from buying, and they are more interested in seeing what is out there than in actually making a
purchase. They may still have to sell their house, or may not be able to afford a house yet. They may
still even be unsure as to whether or not they want to relocate.
Your Realtor should be able to distinguish realistic potential buyers from mere lookers. Realtors
should usually find out a prospective buyer's savings, credit rating, and purchasing power in general.
If your Realtor fails to find out this pertinent information, you should do some investigating and
questioning on your own. This will help you avoid wasting valuable time marketing towards the wrong
people. If you have to do this work yourself, consider finding a new Realtor.
Mistake #6 -- Not Knowing Your Rights & Responsibilities
It is extremely important that you are well-informed of the details in your real estate contract. Real
estate contracts are legally binding documents, and they can often be complex and confusing. Not
being aware of the terms in your contract could cost you thousands for repairs and inspections. Know
what you are responsible for before signing the contract. Can the property be sold "as is"? How will
deed restrictions and local zoning laws will affect your transaction? Not knowing the answers to these
kind of questions could end up costing you a considerable amount of money.
Mistake #7 -- Limiting the Marketing and Advertising of the Property
Your Realtor should employ a wide variety of marketing techniques. Your Realtor should also be
committed to selling your property; he or she should be available for every phone call from a
prospective buyer. Most calls are received, and open houses are scheduled, during business hours, so
make sure that your Realtor is working on selling your home during these hours. Chances are that
you have a job, too, so you may not be able to get in touch with many potential buyers.