By Jeanette Joy Fisher
Many sellers list and sell their properties in haste. Sometimes they get lucky and pick a great listing agent to help them. Knowledgeable agents guide the seller through the process to a successful sale. On the other hand, some sellers get talked into listing their property by a high-pressure agent or the seller lists with well-meaning family member or friend who plays at real estate.
To get the most from your sale--in profits, protection, and yes--enjoyment, avoid these mistakes that can lose you money.
Mistake #1 - Listing property without a marketing plan. Think of your property like a business investment. "Market" your property like a business. Write out a business plan for your sale.
Mistake #2 - Listing your property before you get it ready to show. Too many sellers make a snap decision to sell and immediately list before they prepare the property for selling. Besides deep cleaning and decluttering, you must make your real estate stand out so buyers choose your property over the competion.
Mistake #3 - Accepting a listing agent's market evaluation without checking competition. Don't accept the first agent's market evaluation without doing your homework. Sometimes the best selling agent gets that distinction because they list houses low. If you hear "My listings always sell right away," that could be a warning sign that the agent under values the selling price. Of course, under-priced houses sell right away!
Mistake #4 - Signing a six month listing. Most real estate goes up in value. If your property sits on the market, it might need more sizzle or aggressive advertising to generate offers. A long listing gives agents too much time and takes the pressure off.
Mistake #5 - Letting the agent talk you into lowering the sales price or accepting an offer for a lot less than asking price. Just because your property didn't sell right away doesn't automatically mean that the price is too high. Remember, it only takes ONE buyer to fall in love with your property.
Mistake #6 - Letting agent's show without staging the setting. If you can't be at the property to turn on the lights, air it out, and make sure everything is perfect, choose an agent willing to follow your list of things to do prior to showing and that the agent will open for showing. Just letting other agents use a lock box can cost you profits.
Mistake #7 - Selling the property without proper legal protection. You or your listing agent must understand all the disclosure statements, contracts, and contingencies. Some savvy real estate agents even hire another listing agent just to protect themselves with all the complex documents. You don't want to be a party to a lawsuit and lose money after your home is sold.
Copyright © 2006 Jeanette J. Fisher
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