Pricing incorrectly
Don't let emotional ties influence pricing rather than market conditions. The
first two to four is when you'll see the most action. If your home is not
competitively priced, you could miss an opportunity to sell.
Failing to "showcase" the home
Pet, cigarette odors and cracking paint don't make good first impressions. The
fewer problems buyers see, the easier it is for them to picture themselves as
the new owners.
Using the "hard sell" during showings
Don't follow lookers around pointing out improvements and great features. People
want to view the house on their own.
Not knowing your rights and obligations
The contract for sale and purchase is a legally binding document. An improperly
written contract can cause the sale to fall through or cost you thousands in
repairs and inspections. Know which repairs and closing costs are your
responsibilities.
Signing a listing contract with no way out
Although agents may have every intention of selling your home, unforeseen
circumstances may prevent them from completing the sale. Therefore, you should
have the right to terminate your contract with them at any time. Protect
yourself by getting a guarantee of performance with the right to cancel.
Limiting the marketing and exposure of the property
The two most obvious marketing tools (open houses and classified ads) are only
moderately effective. Homes aren't generally sold by using these mediums - less
than 1 percent for open houses; 3 percent for ads. Use a broad spectrum
marketing plan.
Choosing the wrong agent
Choose a real estate professional who is familiar with your neighborhood and has
excellent marketing skills. You should be contacted often with updates about
your property. A good agent will tell you what you should hear, not what you
want to hear.
Not asking for a marketing plan from your agent
There are many ways to market your house, and your agent will know the most
effective methods. Ask for a specific plan of attack before signing with any
agent.
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