Seven Seller’s Mistakes in Real Estate

To successfully sell real estate, it calls for a lot of careful planning and several smart moves. Quite often, either through ignorance of market conditions or lack of selling techniques, a seller commits some avoidable mistakes that ruin a possible deal. Here is a list of some of the common mistakes most real estate sellers make:
1. Do not unrealistically overprice the house due to personal greed. The price you quote should be in consonance with market norms. You should check at what price similar houses in your neighborhood has been selling and fix your price on par with the acceptable market rate. Setting the sale price of your house is best done in concert with a professional real estate agent.
2. First impressions can make a huge difference. Do not hastily place your house for sale in the market. You must first clean the entire house including the exteriors and make the place appealing to a prospective buyer. Consult your agent-who can obviously view your house dispassionately, for suggestions to create a favorable first impression. Remember most buyers respond emotionally when viewing houses.
3. You obviously are no expert in real estate selling. So, select a resourceful agent who will use all the marketing tools available-including the Internet to find the right buyer for your home. In today’s age and time, most buyers start their search for ideal home on the Internet. Your agent should have a website wherein he should list your house for sale. Potential buyers should easily find your home and learn all the features online.
4. Be extremely careful in selecting a diligent and reliable real estate agent with a proven track record. The agent must accord priority to selling your house and take special interest in getting as many prospective buyers as possible to view your property within the shortest time. He should be a skillful negotiator and an adept at closing sales.
5. Do not misrepresent facts while advertising your house for sale- either through untrue description or by retouching photos to the extent that it presents a misleading image of your house. Never list your three-bedroom house as having four bedrooms by including that additional room in the basement. These untruths will work against you when the buyer comes to inspect your house. Once you lose credibility, no buyer would like to do business with you.
6. A serious seller must make the house easy to show to potential buyers and not make them wait indefinitely. Besides, you must also be easily accessible to prospective buyers for negotiations and sale finalization. Turning away prospective buyers with some lame excuses or making it difficult to show your house will send a negative message — that you’re not serious enough about selling. At least let your agents know well in advance if you will be going out of station or unavailable for any other reason.
7. Some sellers believe they can sell their houses on their own. Remember selling real estate is a tricky proposition and there are plenty of hassles. A professional real estate agent has the experience, knows the market trends, has the resources and right connections, can deftly conduct negotiations on your behalf, and will make the process of selling your home simpler as well as quicker. Please do not avoid hiring an agent merely because you will have to pay commission and needlessly lose opportunities for selling your house early.
Hi, I am Lincy working for RE Mentor. We offer a different perspective on, real estate education and real estate coaching. Visit us at rementor.