7 Selling Mistakes NOT to Make!

Mistake #1 -- Pricing Property Too High Every seller obviously wants to get the most money for his or her property. Ironically, the best way to do this is to NOT list the property at an excessively high price! A high listing price will cause prospective buyers to lose interest before even seeing the 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 end up being sold at a lower price than they would have obtained otherwise. Mistake #2 -- Mistaking Re-finance Appraisals for Market Value Unfortunately, a re-finance appraisal may be stated at an untruthful high price. Often, lenders estimate the value of your property to be higher than it actually is, in order to encourage re-financing. Market value of your home could actually be lower. It would be better to ask your realtor for the most recent information regarding property sales in your area. This will give you an up-to-date and factually accurate estimate of current property value. Mistake #3 -- Forgetting to "Showcase 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 lower the value of your property and will even turn away some buyers. Mistake #4 -- Trying to "Hard Sell" During Showing Buying a house is always emotional and a difficult decision for the buyers. As a result, you should try to allow prospective buyers to comfortably examine your property. Don't try haggling or forceful selling. Instead, be friendly and hospitable. A good idea is to point out any subtle amenities and be receptive to questions. Mistake #5 -- Trying to Sell to "Looky-Loos" A person who shows interest because of a "for sale" sign may not really be interested in your specific property. Often people who do not come through a realtor are at least 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 will be able to distinguish realistic potential buyers from mere lookers. Realtors usually find out a prospective buyer's savings, credit rating, and purchasing power in general. This helps you avoid wasting your valuable time marketing towards the wrong people. 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 title restrictions and local zoning laws affect your transaction? Not knowing the answers to these kind of questions could end up costing you. Mistake #7 -- Limiting Marketing and Advertising of Property Your realtor will employ a wide variety of marketing techniques. Your realtor will also be committed to selling your property; he or she will be available for every phone call from every prospective buyer. Most calls are received, and open houses and viewings are scheduled, during business hours. Chances are that you work as well, so you may not be able to do it on your own. If you want NOT to make these 7 Mistakes plus many more, be sure to call one of our HomeLife Real Estate Professionals TODAY!

 

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from Dana, Hanna, Joanna & Barb!
Real Estate Specialists
HomeLife Real Estate Professionals Ltd.

#200, 12907 - 97 Street

Edmonton, AB  T5E 4C2

Phone: (780) 457-5100
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Dana Wloka, Broker
Hanna Drozdowski, Agent
Joanna Wloka, Agent
Barbara Grodaes, Agent