4 Most Common Mistakes Home Seller’s Make

4 Common Mistakes home Seller's make

4 Common Mistakes home Seller’s make

4 Most Common Mistakes Home Seller’s Make

Selling your home is a business transaction, but all too often, sellers are ill-prepared and make emotional or impulsive conclusions that cost them time, money and emotional stress. If you are thinking of selling your home, you need to avoid the following mistakes:

1. Over-pricing your home

Personally, I feel the worst mistake sellers make is pricing their homes too high. Buyers are for the most part educated and will not even look at an overpriced listing. Most likely, time forces you to lower your asking price to a more realistic number. The downside of this is that, in the meantime, you have lost valuable marketing time. Once a listing has been on the market for a while, it gets less attention. Bottom line is… pricing your home reasonably right from the start! You can ask your agent to run a comparative market analysis – “CMA” – or complete a broker price opinion – “BPO” – (more detailed than a CMA. Some agents may charge for this service). Better yet, hire an appraiser to conduct a formal appraisal.

2. Trying to do it all yourself

Faced with the prospect of having to pay sales commission, it might look attractive to attempt to sell your house yourself. The best bit of advice I ever received from one of my mentors was this “stick with what you are good at and write checks for the rest.” Take heed, unless you have extensive experience at the task at hand, pay a professional. Also, the National Association of Realtors estimates that 75% of all buyers are represented by a buyer’s agent who looks on the Multiple Listing Service – “MLS” – for suitable properties. Without you hiring an agent, you will not have access to these buyers, and will effectively eliminate 75% of the buyer pool.

3. Not prepping the property for the “buyer’s” eye

Preparing your home for sale involves more than telling the kids to clean up their rooms. You have to realize that potential buyers have totally different taste than you. Try to neutralize your home as much as possible, visit a model home to get some ideas. A fresh coat of paint does wonders. Repair items that are not working, and clean, clean clean. This cannot be emphasized enough. Nothing turns off a buyer more than a dirty, dusty, smelly house.

4. Failing to orchestrate an effective marketing campaign

Most people understand that if you don’t let the world know that you have a house for sale you are not going to get very far. The question lies in how to accomplish this. Marketing is more than merely putting up a For Sale sign. Here are some questions to think about: Who is your target buyer? Did you prepare your property for sale? What sets you apart from the competition? Are you offering incentives? What marketing media is available to you? Ask your agent for a copy of their marketing plan and review it.

Below you will find some other common mistakes done by Seller’s

Not understanding negotiations

I cannot tell you how many times I have seen sellers push away prospective buyers because they got triggered, or because they did not understand the offer. Rather than turning your nose up at what you think is a lowball offer, look at every offer and present a realistic counter offer. That way, you can spark a real negotiation. Often, inexperienced sellers feel that they are being taken advantage of when a buyer negotiates hard. You have to remember that real estate is a negotiable commodity. Most buyers want to get the best deal possible and are testing you to find out where you stand. If you are dealing with a qualified buyer just keep moving for what you want, find out how far they are willing to go, let them throw in the towel, not you!

Not Being Available

This applies to you and the property. When you’re selling your home, ensure it is always available for showings. When it comes to setting appointments, sellers more often than not make the mistake of being inflexible. Qualified buyers are generally professionals who work long hours and have limited spare time. For example, not showing your house in the evening is saying no to a big chunk of your buyer pool. Also, once there is an offer on the table, it is crucial you be available to negotiate the offer, as well as to take care of the little things that will need to be done in the closing process.

Wasting time on unqualified buyers

You received an offer. You concluded favorable negotiations. Escrow opened, you took your property off the market. You are two or three weeks into the closing process and emotionally, you moved on to your next venture, when, out of the blue, you get a call from your agent saying that the buyer did not qualify. Can you feel the pain? Buyers face strict lending standards, therefore it is crucial you check out the potential buyer’s qualifications. The last thing you want is the scenario above. Before accepting an offer, be sure the buyer has been pre-approved, not just pre-qualified. Don’t accept offers based solely on price. A cash buyer is more likely to close than someone going for 100% financing. After you have received an offer always keep marketing your property, a couple of backup offers will protect you from having to put your house back on the market if the first buyer fails to close.

Not understanding what you have to sign for

Contracts can be complex and confusing. Don’t let the fine print scare you. Before you sign and enter into a formal agreement, ensure that all documentation clearly reflects your understanding of the transaction. Review each page carefully with your real estate agent or attorney. Is everything in place? Is there something you don’t want? Don’t rush. You want to sign off with clarity and eliminate any possible liability.

Atlanta Homes for Sale

New Listing - 3 weeks online
$275,000
Condo For Sale
Pending
2
BED
1
TOTAL BATHS
900
SQFT
Lindsysp #2
960 Taft Avenue NE
Atlanta, GA 30309
Price Change - 2 weeks ago
$289,900
Condo For Sale
Active
1
BED
1
TOTAL BATHS
746
SQFT
Piedmont Crest #106
1055 Piedmont Avenue NE
Atlanta, GA 30309
New Listing - 2 weeks online
$265,000
Condo For Sale
Active
1
BED
1
TOTAL BATHS
804
SQFT
The Gaither #12
301 10th Street NE
Atlanta, GA 30309
$324,900
Condo For Sale
Active
1
BED
1
TOTAL BATHS
833
SQFT
Wilburn House #203
266 11th Street NE
Atlanta, GA 30309
$299,900
Condo For Sale
Pending
1
BED
1
TOTAL BATHS
736
SQFT
Wilburn House #105
266 11th Street NE
Atlanta, GA 30309
$375,000
Condo For Sale
Pending
2
BED
2
TOTAL BATHS
1,182
SQFT
Parkgate Midtown #101
1072 Piedmont Avenue NE
Atlanta, GA 30309
New Listing - 3 weeks online
$1,099,000
Single Family Home For Sale
Pending
3
BED
3
TOTAL BATHS
3,028
SQFT
987 Myrtle Street NE
Atlanta, GA 30309
Midtown Subdivision
$799,900
Single Family Home For Sale
Pending
5
BED
3
TOTAL BATHS
3,403
SQFT
983 Myrtle Street NE
Atlanta, GA 30309
Midtown Subdivision
$235,000
Condo For Sale
Active
1
BED
1
TOTAL BATHS
907
SQFT
Piedmont Park West Lofts #303
1029 Piedmont Avenue NE
Atlanta, GA 30309
$399,000
Condo For Sale
Pending
2
BED
2
TOTAL BATHS
1,185
SQFT
Piedmont Park West #302
1029 Piedmont Avenue NE
Atlanta, GA 30309
$225,000
Condo For Sale
Pending
1
BED
1
TOTAL BATHS
907
SQFT
Piedmont Park West Lofts #403
1029 Piedmont Avenue NE
Atlanta, GA 30309
$334,900
Condo For Sale
Active
1
BED
1
TOTAL BATHS
989
SQFT
Luxe #1701
222 12th Street NE
Atlanta, GA 30309
$520,000
Condo For Sale
Pending
2
BED
2
TOTAL BATHS
1,329
SQFT
Luxe #1508
222 12th Street NE
Atlanta, GA 30309
Open House 12/08 at 2PM
$675,000
Condo For Sale
Active
2
BED
3
TOTAL BATHS
1,732
SQFT
Luxe #1102
222 12th Street
Atlanta, GA 30309
$465,000
Condo For Sale
Active
1
BED
2
TOTAL BATHS
1,424
SQFT
Lofts At The Park Ii #301
1058 Piedmont Avenue
Atlanta, GA 30309
Price Change - 3 weeks ago
$337,000
Condo For Sale
Pending
1
BED
1
TOTAL BATHS
960
SQFT
Parc Vue #1102
275 13th Street NE
Atlanta, GA 30309
$264,900
Condo For Sale
Pending
1
BED
1
TOTAL BATHS
860
SQFT
Parc Vue #809
275 13th Street NE
Atlanta, GA 30309
$243,500
Condo For Sale
Pending
1
BED
1
TOTAL BATHS
780
SQFT
Parc Vue #505
275 13th Street NE
Atlanta, GA 30309
New Listing - 3 days online
$260,000
Condo For Sale
Active
1
BED
1
TOTAL BATHS
765
SQFT
Parc Vue #506
275 13th Street NE
Atlanta, GA 30309
$245,000
Condo For Sale
Pending
1
BED
1
TOTAL BATHS
850
SQFT
Parc Vue #307
275 13th Street NE
Atlanta, GA 30309
$399,900
Condo For Sale
Pending
2
BED
2
TOTAL BATHS
1,125
SQFT
Parc Vue #501
275 13th Street NE
Atlanta, GA 30309
Price Change - 2 weeks ago
$545,000
Townhouse For Sale
Active
2
BED
2
TOTAL BATHS
1,653
SQFT
199 12th Street #7
199 12th Street NE
Atlanta, GA 30309
$699,000
Condo For Sale
Active
2
BED
3
TOTAL BATHS
2,268
SQFT
199 12th Street #9
199 12th Street
Atlanta, GA 30309
Price Change - 2 weeks ago
$347,000
Condo For Sale
Active
1
BED
1
TOTAL BATHS
980
SQFT
Lofts At The Park #205
206 11th Street NE
Atlanta, GA 30309
$649,000
Condo For Sale
Active
2
BED
3
TOTAL BATHS
1,732
SQFT
Luxe Condo #1103
222 12th Street NE
Atlanta, GA 30309
$182,000
Condo For Sale
Pending
1
BED
1
TOTAL BATHS
555
SQFT
Midtown On 8 Th #2
317 8th Street NE
Atlanta, GA 30309
$259,000
Condo For Sale
Active
2
BED
1
TOTAL BATHS
Stanford Court #A2
343 8th Street NE
Atlanta, GA 30309
$599,000
Single Family Home For Sale
Active
4
BED
4
TOTAL BATHS
1056 Dickson Place NE
Atlanta, GA 30309
Midtown Subdivision
$189,000
Condo For Sale
Active
1
BED
1
TOTAL BATHS
760
SQFT
Glendale Terrace #B1
885 Glendale Terrace NE
Atlanta, GA 30309
New Listing - 2 weeks online
$175,000
Condo For Sale
Active
1
BED
1
TOTAL BATHS
436
SQFT
Park View Condos #11
272 14th Street NE
Atlanta, GA 30309
New Listing - 2 weeks online
$1,785,000
Single Family Home For Sale
Active
3
BED
4
TOTAL BATHS
3,592
SQFT
900 Penn Avenue NE
Atlanta, GA 30309
Midtown Subdivision
$1,749,900
Townhouse For Sale
Active
3
BED
4
TOTAL BATHS
2,650
SQFT
1204 On The Park #2
1204 Piedmont Avenue NE
Atlanta, GA 30309
$1,799,900
Townhouse For Sale
Active
3
BED
4
TOTAL BATHS
2,650
SQFT
1204 On The Park #3
1204 Piedmont Avenue NE
Atlanta, GA 30309
$399,900
Condo For Sale
Active
2
BED
2
TOTAL BATHS
1,146
SQFT
Mayfair Renaissance #2507
195 14th Street
Atlanta, GA 30309
New Listing - 4 weeks online
$219,000
Condo For Sale
Pending
1
BED
1
TOTAL BATHS
627
SQFT
Mayfair Renaissance #901
195 14th Street NE
Atlanta, GA 30309
New Listing - yesterday
$389,900
Condo For Sale
Active
2
BED
2
TOTAL BATHS
1,146
SQFT
Mayfair Renaissance #1507
195 14th Street NE
Atlanta, GA 30309
Price Change - 2 weeks ago
$240,000
Condo For Sale
Active
1
BED
1
TOTAL BATHS
755
SQFT
Mayfair Renaissance #712
195 14th Street NE
Atlanta, GA 30309
New Listing - 4 weeks online
$500,000
Condo For Sale
Active
2
BED
3
TOTAL BATHS
1,345
SQFT
Mayfair Renaissance #1602
195 14th Street NE
Atlanta, GA 30309
$269,900
Condo For Sale
Active
1
BED
1
TOTAL BATHS
750
SQFT
Mayfair Tower #1806
199 14th Street NE
Atlanta, GA 30309
New Listing - 2 weeks online
$394,900
Condo For Sale
Active
2
BED
2
TOTAL BATHS
1,234
SQFT
Mayfair Tower #2805
199 14th Street NE
Atlanta, GA 30309
$265,000
Condo For Sale
Active
1
BED
1
TOTAL BATHS
805
SQFT
Mayfair Tower #403
199 14st Street
Atlanta, GA 30309
Price Change - 2 weeks ago
$165,000
Condo For Sale
Active
1
BED
1
TOTAL BATHS
520
SQFT
916 Myrtle #2
916 Myrtle Street NE
Atlanta, GA 30309
$969,000
Multi-Family For Sale
Pending
0.2296
ACRES
FULTON
COUNTY
899 Charles Allen Drive NE
Atlanta, GA 30308
Midtown Subdivision
$309,850
Condo For Sale
Pending
1
BED
1
TOTAL BATHS
1,054
SQFT
Park Central #1028
1101 Juniper Street NE
Atlanta, GA 30309
New Listing - 4 weeks online
$240,000
Condo For Sale
Pending
1
BED
1
TOTAL BATHS
723
SQFT
Park Central #1008
1101 Juniper Street NE
Atlanta, GA 30309
New Listing - 4 weeks online
$369,900
Condo For Sale
Active
2
BED
2
TOTAL BATHS
1,169
SQFT
Park Central #423
1101 Juniper Street NE
Atlanta, GA 30309
New Listing - 3 weeks online
$359,000
Condo For Sale
Active
2
BED
2
TOTAL BATHS
1,161
SQFT
Park Central #604
1101 Juniper Street NE
Atlanta, GA 30309
$775,000
Single Family Home For Sale
Active
3
BED
3
TOTAL BATHS
2,944
SQFT
877 Penn Avenue NE
Atlanta, GA 30309
Midtown Subdivision
$1,150,000
Commercial For Sale
Active
4,261
SQFT
1031 Juniper Street NE
Atlanta, GA 30309
 
$230,000
Condo For Sale
Active
1
BED
1
TOTAL BATHS
893
SQFT
Ansley Arms #301
1230 Piedmont Avenue NE
Atlanta, GA 30309
Price Change - 4 weeks ago
$699,000
Single Family Home For Sale
Pending
3
BED
3
TOTAL BATHS
3,523
SQFT
848 Durant Place NE
Atlanta, GA 30308
Midtown Subdivision
$1,380,000
Condo For Sale
Active
2
BED
3
TOTAL BATHS
2,289
SQFT
1065 Midtown Loews #3005
1065 Peachtree Street NE
Atlanta, GA 30309
$1,599,000
Condo For Sale
Active
3
BED
3
TOTAL BATHS
2,289
SQFT
1065 Midtown #3302
1065 Peachtree Street
Atlanta, GA 30309
$1,369,000
Condo For Sale
Active
2
BED
3
TOTAL BATHS
2,289
SQFT
1065 Midtown Loews #2805
1065 Peachtree Street NE
Atlanta, GA 30309
$234,900
Condo For Sale
Active
1
BED
1
TOTAL BATHS
715
SQFT
Tuscany #2223
955 Juniper Street NE
Atlanta, GA 30309
Price Change - 4 days ago
$244,000
Condo For Sale
Active
1
BED
1
TOTAL BATHS
693
SQFT
Tuscany #2317
955 Juniper Street NE
Atlanta, GA 30309
$250,000
Condo For Sale
Active
1
BED
1
TOTAL BATHS
821
SQFT
Tuscany #2228
955 Juniper Street NE
Atlanta, GA 30309
$275,000
Condo For Sale
Pending
2
BED
1
TOTAL BATHS
1,031
SQFT
Tuscany #3125
955 Juniper Street NE
Atlanta, GA 30309