SOME COMMON MISTAKES TO GUARD AGAINST AS A SELLER
Pricing too high or too low:
It is essential the correct market value of your home be determined. If your asking price is more than the market will bear, many buyers will view similar but lower priced homes first, never come to yours or expect more if they come. This not only limits your pool of potential buyers but also increases the chances your home will sell for less than its actual value due to the "discount" associated with properties that have been on the market for longer than the average time. If your asking price is too low, you will not achieve fair market value for your home.
Not Presenting your home in the best light:
A little work can improve the first impression of your home immensely. First impressions are lasting impressions and can dramatically affect a property's perceived value.
Not Evaluating the Sources Used for Market Value Assessment:
The main sources of appraisal are Comparative Market Analysis (CMA), Professional Appraiser, Tax Assessment and Bank Appraisals. Bank appraisals and tax assessments are based on general guidelines such as lot size and square footage, not the specific qualities of your home. A CMA assesses market value based on detailed knowledge of all recent neighborhood sales and listings. It is a current assessment of the market and what Buyers are prepared to pay at that time for a house with your characteristics that counts.
Selecting the REALTOR® with the highest estimate of your home’s value:
To achieve the best sale price within a reasonable period of time you need an accurate assessment of the true market value of your property. With this true and accurate knowledge you can proceed to make sound plans.
Considering Showings as Buyers:
Many people are keeping an eye on the market, looking for decorating ideas, or planning for their own sale. I follow-up on all showings for feedback, identifying the level of true interest, and determining if any improvements can be made.
Restricting the marketing and exposure of your property:
A "For Sale" sign on the front yard and generous viewing times greatly assist in the number of prospective buyers seeing your home. Both have a serious impact on your bottom line and time required to sell.
Considering only one side of the deal:
If the market is up, selling and buying prices will be up and vice versa. Always try to buy and sell in the same market. Otherwise you are trying to be a fortune teller.