The Real Estate Market Has Changed….
Remember not so long ago, when you could make your fortune in real estate? It was nothing then to buy a home, wait a short while, and then sell it at a tidy profit.
And then do it all over again.
Well, as you probably know, times have changed. Buyers are far more discriminating, and a large percentage of the homes listed for sale never sell. It’s more critical than ever to learn what you need to know to avoid costly seller mistakes in order to sell your home fast and for the most amount of money.
Here are The 7 Mistakes Most Homesellers Make:
1. Failing to analyze why they are selling: Know why you’re selling, and keep it to yourself. The reasons behind your decision to sell affect everything from setting a price to deciding how much time and money to invest in getting your home ready for sale. What’s important to you: the money you walk away with, the length of time your property is on the market, or both? Different goals will dictate different strategies. However, don’t reveal your motivation to anyone else, or they may use it against you at the negotiating table. When asked, simply say your housing needs have changed.
2. Not preparing their home for the buyer’s eye: Studies have shown that it is more difficult to sell a home that is vacant because it looks forlorn, forgotten, and simply not appealing. It could even cost you thousands to not stage your home correctly! If you move, you’re also telling buyers that you have a new home and are probably highly motivated to sell fast. This, of course, will give them the advantage at the negotiating table.
3. Pricing their home incorrectly: Settling on an offering price shouldn’t be done lightly. Once you’ve set your price, you’ve told buyers the absolute maximum they have to pay for your home, but pricing too high is as dangerous as pricing too low. Remember that the average buyer is looking at 15-20 homes at the same time they are considering yours. This means that they have a basis of comparison, and if your home doesn’t compare favorably with others in the price range you’ve set, you won’t be taken seriously by prospects or agents. As a result, your home will sit on the market for a long time and, knowing this, new buyers on the market will think there must be something wrong with your home.
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