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Home Sellers: Don't Make These 5 Mistakes

By mdblog - September 17, 2013
With the market improving as progressively as it has over the last couple years, many agents and home sellers are beginning to tackle the industry again with full force. Optimism may be key to success, but there are five key mishaps to avoid when putting your home on the market: 5. First come first serve...for a reason It's quite common for home sellers to put off the first offer thrown at them to wait for a higher offer. What usually happens after holding off for something better to come along is...more waiting. Yes, according to Zillow.com, about 90% of the time, "your first buyer is your best buyer." The reason? If you think about it: the potential buyer who is ready and sure of his decision is most likely motived and ready to do business. That's the kind of buyer you want.
"Keep in mind that the best offer may not always be the price that you're looking for, instead "it's the one with the fewest hassles and outs for the buyer."-  CNNMoney.com
4. As the old saying goes, "You get out what you put in..." If you've every heard this saying around the office, then you should definitely know what this means in real estate. Have a leaky faucet that needs fixing? Call the plumber. Are the garage doors in need of a replacement? Yes, you got it, replace them. Investing the time and money to make sure your home is as problem-free as possible will most certainly reap its rewards. Neglecting basic home maintenance attracts investors or property flippers, who may not the ideal buyer that you're looking for, as they are known for submitting lower offers.
"To attract offers and the highest bids, sellers should attend to any upkeep and maintenance issues before putting the house for sale."-Realtor.org
3. Over improve your house One way to ward off potential home buyers is to over improve your home. Some sellers make the mistake of investing in unnecessary home repairs that only ends up aesthetically pleasing the home seller, not buyer. For instance, have you always dreamed of replacing old window trimmings or antique hardwood flooring? Before you spend your time--and money--trying to make these unnecessary improvements, give the potential homebuyer the option of whether they want it or not.  A contrast to under-improving your home, over improving can be just as detrimental to your marketing.
"This happens with additions, bump outs, and upgrades that make the home stick out from among its competitors so much that it's an anomaly, instead of a nice addition to the community." -  Realtor.com
2. Overpricing your home Overpricing your home is the easiest way to keep is on the market...for a long time. And the longer it's on the market, the more undesirable it publicly appears. Informed buyers know the home market value in your neighborhood, and if they don't, their agent most certainly knows.  The first two weeks are the most crucial when putting a home on the market, as it is when the buyers' are the most interested.
"It's always best to price a home according to the true market value, and not the wishful thinking prices a lot of sellers attach to their properties."-  WashingtonPost.com
1. Making your home difficult to show What do we mean by that? If you're too busy to schedule a convenient time to to show your property sends a negative message throughout the real estate world. Even worse, turning away prospective buyers without even negotiating. Being difficult when showing a home send the wrong message as you appear to be unmotivated or not serious about selling. If you're working nights and sleep during the day, then let your agent know. Better yet, find someone you trust to manage your showings.  It's important to note that serious buyers are ready and willing to meet with sellers.
"You should plan on having the home ready to show within 24 hours."-  Zillow
There you have it. Time and time again, many mishaps a home seller could make when putting their home on the market, just make sure to find the right agent to streamline the process as best they can.

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