According to a recent e-mail survey, overpricing a home is the most common mistake sellers have made when listing their homes. This does not prove to be profitable in the long run. It does not pay to be greedy. The sellers must understand the market, and should be aware of the estimated price of the property prevailing in the market. This helps in making the sale easier.
The next biggest mistake sellers make is dealing with the same real estate agent who represents their buyer. This may cause a clash of interest where the agent may close the deal at a price favoring the buyer. It is always better to deal with an agent different from the one representing the buyer.
The failure to reveal defects or problems has proven to be one of the other big mistakes that sellers make. The seller must take proper care in preparation of their home before the sale. The outside view of the home (curb appeal) is very important as that is what leaves a lasting impression on the buyer. The interiors have to be looked into as well. In case of any defects, the seller must either have them repaired or disclose them to the buyer in order to avoid problems arising in the future.
Sellers often fail to market their homes effectively.
Sellers can plan their advertising budget and should choose appropriate mediums for advertising their home. They may choose from newspaper Classifieds, Real Estate Magazines and Internet Ads. With many people using the Internet nowadays to begin their search for a home, advertising on the Internet proves to be a cost-effective medium. Some popular websites on this front are ChoiceOfHomes.com and FSBO.com
Selling a home is not an easy task. Several aspects have to be considered and re-considered. Care should be taken to avoid the most common mistakes as mentioned above.
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