Home sales are never easy and there are so many challenges to deal with before they can be done correctly. However, hard does not mean impossible. By avoiding certain common mistakes, it can be a smooth ride for the seller at the end of the day.
A common mistakes that sellers makes is in pricing the home. In most cases, pricing determines whether a home is sold quickly or remain on the market for a long time.
Even with the help of the most seasoned real estate agent, if you overprice your home, no one will buy. The kind of price you settle for has an impact on the marketing plan.
If the home is listed at a fair price, it means more people may be interested in buying or making an offer sooner. Choosing the correct price is not easy so it is worthwhile that you put in more effort to do this right.
To sell your home easily and quickly, avoid these common pricing errors:
Overpricing the home simply to create some negotiating room
Many sellers assume that buyers usually offer a price that is much lower than what is listed. For that reason, they choose to overprice and leave some negotiating room, however the reality is quite different.
If you list your home higher than what the agent recommends, but this is a big mistake because buyers can easily check the internet for the right information, and therefore they may not make any offers.
Choosing an agent who offers a list price that is higher than all others
This is another common mistake. As is the case with other professions, there are some agents who excel at their jobs compared to others, there are the average agents and finally those that are terrible.
There are also agents who tell sellers that their home is worth an unrealistic amount, just to help them obtain the listing. While interviewing agents, never settle for those who offer the highest price. Research the facts and choose accordingly.
Not engaging the services of a real estate agent to do comparative market analysis
Pricing is never easy and there are many things that real estate agents consider before they offer a price. Professional agents spend time looking at available data and researching before they give a listing price.
Comparative market analysis is an essential part of the research that needs to be done correctly. The best real estate agent should be able to do this.
Overpricing just because you have time on your side
Some sellers feel that since they are not pressed to sell they can simply list the home higher than what current market analysis suggests. However, just because you are not in a hurry to complete the sale, it does not make sense to overprice.
The house may sit too long on the market and finally people may not really want to buy. These are the four pitfalls that every seller should be aware of and try to avoid as much as they can.