|
| |
9
Deadly Mistakes Home Sellers Make
Mistake
#1. Using a real estate agent instead of a Realtor®
When you're looking for help buying or selling property, it's important to
remember that the terms "real estate agent" and "Realtor"
are not synonymous. A Realtor® can provide an extra level of service, and to be
a Realtor® you must be a member of the National Association of Realtors (NAR).
NAR is a non-profit trade organizations that promote real estate information,
education and professional standards. The National Association of Realtors also
has earned a strong reputation for actively championing private property rights
and working to make home ownership affordable and accessible. The NAR members
adhere to a strict code of ethics founded on the principle of providing fair and
honest service to all consumers. A Realtor's business practices are monitored at
local board levels. Arbitration and disciplinary systems are in place to address
complaints from the public or board members. This local oversight keeps a
Realtor® directly accountable to the individual consumers they serve and
therefore the consumer is more likely to find better service and accountability
by using a Realtor®.
Mistake
#2. Complacent marketing when selling a home
When selling your home there are no guarantees that the ultimate buyer of your
home will have simply walked through the front door. In many cases you may have
to bring your home to the buyer. Effective marketing will help ensure that your
property receives maximum exposure to attract a ready, willing and able buyer in
the shortest period of time. Ask your Realtor® to list for you all of the ways
he/she intends to market your home and on what time-line. Also, be sure to ask
about the home being advertised on the Internet.
Mistake
#3. Taking for granted the "curb appeal" of your home
When you're preparing your house for sale, remember the importance of first
impressions. A buyer's first impression can make or break whether they even want
to go inside for a look. It is estimated that more than half of all houses are
sold before the buyers even get out of their cars. With that in mind, be sure to
stand outside of your home and take a realistic "fresh look" and then
ask yourself what can be done to make the "curb appeal" improve. Also
ask your Realtor's opinion as to how to improve the curb appeal. It could make a
huge difference in your final sales price.
Mistake
#4. Forgetting about health and safety issues
Be upfront and disclose to your Realtor® about any problems with the property.
The problems are going to be discovered anyway. A decade ago, health and safety
issues were rarely a part of the typical real estate transaction. Today,
however, it's common for inspections relating to health, safety, and even
environmental concerns to be a part of most sales contracts. Moreover, in many
states, the seller must disclosure to the buyer any knowledge of existing
property problems. In many cases, these issues have been or can be factored into
the home's listing price.
Mistake
#5. Forgetting what you would want to see if you were the buyer of your home
Remember that although people can be different in personality, they tend to be
the same when it comes to expectations at someone else's expense. In other
words, a prospective buyer would probably like to see a perfect home from top to
bottom, inside and out, when it comes to your home. Try to do as many of the
following items as possible to improve the likelihood of your home sale in an
expedient way.
On the outside
 | Sweep front walkway.
|
| Remove newspapers, bikes and toys.
|
| Park extra cars away from the
property.
|
| Trim back the shrubs.
|
| Apply fresh, clean paint throughout.
|
| Clean windows and window coverings
throughout.
|
| Keep plumbing and all appliances in
working order.
|
| Maintain all sealant (window, tub,
shower, sink, etc.) in good condition.
|
| Make sure roof and gutters are clean
and in good condition.
|
| Mow the lawn frequently and plant
flowers.
|
| Keep pet areas clean.
|
|
On the inside
|
| The kitchen and bathroom should
shine.
|
| Quick once-over with the vacuum;
carpets should be clean.
|
| Place fresh flowers in the main
rooms.
|
| Put dishes away, unless setting a
formal display for decoration.
|
| Make all beds and put all clothes
away.
|
| Open drapes and turn on lights for a
brighter feel.
|
| Straighten closets.
|
| Put toys away.
|
| Turn off television.
|
| Play soft music on the radio/stereo.
|
| Keep pets out of the way and pet
areas clean and odor-free.
|
| Secure jewelry, cash, prescription
medication and other valuables.
|
| Enhance the spaciousness of each
room.
|
Mistake
#6. Thinking you need to be in the home to explain things to a prospective buyer
You will be better served if you allow your Realtor® to do their job without
you there. Most potential buyers usually feel more comfortable if they can speak
freely to the real estate professional without the owners being present. If
people unaccompanied by an agent request to see your property, you should refer
them to your Realtor® for an appointment.
Mistake
#7. Not knowing how to price your home to sell
Perhaps the most challenging aspect of selling a home is listing it at the
correct price. It's one of several areas where the assistance of a skilled real
estate agent can more than pay for itself. Listing the home too high can be as
bad as too low. If the listing price is too high, you'll miss out on a
percentage of buyers looking in the price range where your home should be. This
is the flaw in thinking that you'll always have the opportunity to accept a
lower offer. Chances are the offers won't even come in, because the buyers who
would be most interested in your home have been scared off by the price and
aren't even taking the time to look. By the time the price is corrected, you've
already lost exposure to a large group of potential buyers. The listing price
becomes even trickier to set when prices are quickly rising or falling. It's
critical to be aware of where and how fast the market is moving - both when
setting the price and when negotiating an offer. Again, an experienced,
well-trained agent is always in touch with market trends - often even to a
greater extent than appraisers, who typically focus on what a property is worth
if sold as-is, right now.
Mistake
#8. Not planning your move earlier enough
Many sellers simply don't plan their move early enough and then feel totally
overwhelmed at the time of moving out of the house. If you are able to move at
any time of the year, don't wait until summer, the peak-moving season. Consider
also that the first and last few days of the month are extra busy. If you plan
to sell your house, get it on the market as soon as possible. Keep a record of
all expenses related to the move, some of which may be tax deductible. Fill out
the Personal Household Inventory for each room. This is important for
establishing the amount of declared valuation for the shipment and as a
permanent inventory for insurance purposes. List, as nearly as possible, the
year of purchase and original cost of each item. Attach any invoices or records
of purchase to the completed inventory. Prepare a separate high-value inventory
if the shipment will contain articles of "extraordinary" value. The
following list includes items that might fall into this category:
|
· Antiques
· Art
Collections
· Cameras
· China
Collections
· Computer
Equipment
· Crystal
· Figurines
|
· Firearms
· Jewelry
· Manuscripts
· Oriental
Rugs
· Silver
· Stones
Or Gems
· Tapestries
· TVs
Or Stereos
|
Also,
unless you have been given a binding moving estimate where a firm cost is
established in advance, the exact cost of a move cannot be determined until
after the shipment has been loaded on the van and weighed. The weight on which
charges are based is calculated by weighing the van before and after loading.
The total cost of the move will include transportation charges, any charges for
declared valuation, plus charges for any extra services performed at your
request. All of these charges are based on tariff rate schedules.
Mistake
#9. Using a "convenient" Realtor® rather than using an experienced
Realtor®
When working with a real estate agent, it's critical that you have full
confidence in that agent's experience and education. A skilled, knowledgeable
agent should be able to explain to you exactly why your home needs to be priced
at a certain level - compared to recent listings and sales of homes similar to
yours. Experienced agents also know exactly what the current pool of buyers are
looking for in relation to particular styles and price ranges of properties. A
skilled agent can recommend changes that will enhance the salability of your
home, thus increasing the price - and/or decreasing the length of time before a
sale.
|
