Hiring a Real Estate Agent is one of the most critical decisions you can make when it comes to selling your home. The right Agent will know the most effective ways to list and market your home and won’t make these rookie mistakes.
Mistake #1 – Price Opinion And Your Agent
“Buying a listing” is a questionable sales practice used by some agents. This practice is where an agent suggests a higher sales price than other agents in order to get the seller to list the property with them. When this happens, that “highest” bidding agent will almost immediately begin asking for a reduced price. The risk when something like this takes place is having a delayed sale and ultimately receiving less than it would have sold for if the agent had priced the listing correctly initially.
Mistake #2 – Testing The Market
Many sellers want to place their home on the market at a higher price because they believe that they can easily adjust their selling strategy later, if needed. When this happens the house then becomes “old news” and it is then harder to get the initial excitement from buyers as a new house on the market. Ultimately, the house stays on the market longer and eventually sells for less.
Mistake #3 – Pricing For Profit
As a seller you can always control the “asking” price, however, you do not have control over the actual “sales” price. The reality of where the market is when the house is listed will determine the selling price. Ultimately, this strategy leaves the seller disappointed in the sale.
Mistake #4 – Price Vs. Time
When it comes to price and time, they are closely tied together. If you, as the seller, opt for a higher price, the house will more than likely take longer to sell. However, if your priority is time and you are looking for a quick sale, the price of the house will be adjusted downward to make the house more attractive on the market.
Mistake #5 – Rushing The Listing
Presentation is a very important part of marketing your property. Often the seller can become impatient or can procrastinate when it comes to preparing the home to be seen. Remember pre-sale work is essential in marketing the home. Incomplete or in-progress repairs can negatively impact the perception of the home while on the market.
Hire the right agent for the job and avoid these five mistakes. We’ve got the perfect team to help you when you are ready to sell.
Keeping It Real,
The Cloninger Properties Team