Our team helped over 224 families make a move in the last 12 months, and we talk to LOTS of sellers each and everyday. With that said, we sometimes see mistakes made that can be easily avoided, and that will make your sale much more stress free and successful.
Pricing to net
A major issue we see is sellers pricing their home based on the amount of money they want to receive from the sale. You must look at the comps with your real estate agent. You need to know what the other homes are selling for. At the end of the day, the market determines what the home sells for, not you and not your agent.
Lower price “later”
A big mistake we see sellers make is they want to initially list their home high to test the market. They want to price it higher than I may be worth hoping that it may sale. This almost never results in the desired effect.
When a listing first hits the market, the idea is to make a big splash. You want it to be priced well, you want buyers to see value in the house. While you don’t want to leave money on the table, but if it is over priced you won’t get any offers. By the time you lower the price, your major exposure that occurs in the first couple of weeks has passed, missing a great opportunity.
Not planning ahead
People tend to think that before they bring a real estate in to see the home, they need to have it perfect and ready to list. It is the agent’s job to assist in getting the home prepared. Agents can help you getting things done like cleaning, updating minor items, replacing things that need it. Let the agent help get the best return on investment for your time and expense. Get your agent involved six weeks, or even six months, before you intend on getting the home on the market.
Opting for discount broker
This is a huge deal. Real estate agents work on commission, it is a commission business. The more they sell homes for the more they make. If someone is working for a significantly discounted amount, they will not have the ability or the motivation to negotiate on your behalf. This is the biggest asset of your life. Leaving money on the table in choosing a discount broker is a real risk. If the agent is quickly willing to leave money on the table for themselves, what do you think they will do with your money at the negotiating table?
*Bonus: Not demanding the absolute best marketing
Just like everything else in our society, real estate sales and home shopping starts online. How your home is presented on line is “mission critical.” 94% of buyers start their home search on the internet. You need a real estate team or agent who knows marketing and can market your property on every single platform including real estate syndicated web sites.
As always, The Novak Team is always available to answer any questions.