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

$289,000
Condo For Sale
Pending
2
BED
1
TOTAL BATHS
900
SQFT
Lindsy #12
960 Taft Avenue NE
Atlanta, GA 30309
New Listing - a week online
$308,000
Condo For Sale
Active
1
BED
1
TOTAL BATHS
770
SQFT
Wilburn House #107
266 11th Street NE
Atlanta, GA 30309
$1,125,000
Multi-Family For Sale
Pending
0.075
ACRES
FULTON
COUNTY
968 Argonne Avenue NE
Atlanta, GA 30309
Midtown Subdivision
New Listing - a week online
$350,000
Condo For Sale
Pending
2
BED
2
TOTAL BATHS
1,182
SQFT
Park Gate #101
1078 Piedmont Avenue NE
Atlanta, GA 30309
$262,000
Condo For Sale
Active
1
BED
1
TOTAL BATHS
895
SQFT
Piedmont Park West Lofts #104
1029 Piedmont Avenue NE
Atlanta, GA 30309
Price Change - 4 weeks ago
$425,000
Condo For Sale
Pending
2
BED
2
TOTAL BATHS
1,237
SQFT
Piedmont Park West Lofts Condo #201
1029 Piedmont Avenue NE
Atlanta, GA 30309
$419,900
Condo For Sale
Pending
2
BED
3
TOTAL BATHS
1,242
SQFT
Ansley Above The Park #1004
1130 Piedmont Avenue
Atlanta, GA 30309
Price Change - 2 weeks ago
$549,500
Condo For Sale
Active
2
BED
3
TOTAL BATHS
1,536
SQFT
Ansley Above The Park #413
1130 Piedmont Avenue NE
Atlanta, GA 30309
$639,900
Condo For Sale
Pending
2
BED
3
TOTAL BATHS
1,732
SQFT
Luxe #1402
222 12th Street NE
Atlanta, GA 30309
New Listing - 3 weeks online
$795,000
Condo For Sale
Active
2
BED
3
TOTAL BATHS
1,732
SQFT
Luxe #1502
222 12th Street
Atlanta, GA 30309
Price Change - 2 weeks ago
$530,000
Condo For Sale
Active
2
BED
2
TOTAL BATHS
1,329
SQFT
Luxe #1508
222 12th Street NE
Atlanta, GA 30309
New Listing - a week online
$572,000
Condo For Sale
Active
2
BED
2
TOTAL BATHS
1,515
SQFT
Lofts At The Park Ii #303
1058 Piedmont Avenue NE
Atlanta, GA 30309
Price Change - 2 weeks ago
$424,900
Condo For Sale
Active
2
BED
2
TOTAL BATHS
1,424
SQFT
Lofts At The Park Ii #201
1058 Piedmont Avenue NE
Atlanta, GA 30309
New Listing - yesterday
$499,000
Condo For Sale
Active
1
BED
2
TOTAL BATHS
1,424
SQFT
Lofts At The Park Ii #301
1058 Piedmont Avenue NE
Atlanta, GA 30309
$249,887
Condo For Sale
Pending
1
BED
1
TOTAL BATHS
765
SQFT
Parc Vue #603
275 13th Street NE
Atlanta, GA 30309
Price Change - 6 days ago
$249,000
Condo For Sale
Active
1
BED
1
TOTAL BATHS
780
SQFT
Parc Vue #505
275 13th Street NE
Atlanta, GA 30309
Open House 08/18 at 2PM
$269,000
Condo For Sale
Active
1
BED
1
TOTAL BATHS
860
SQFT
Parc Vue #809
275 13th Street NE
Atlanta, GA 30309
New Listing - 2 days online
$259,900
Condo For Sale
Active
1
BED
1
TOTAL BATHS
765
SQFT
Parc Vue #404
275 13th Street NE
Atlanta, GA 30309
New Listing - 22 hours online
$279,900
Condo For Sale
Active
1
BED
1
TOTAL BATHS
765
SQFT
Parc Vue #103
275 13th Street
Atlanta, GA 30309
$262,500
Condo For Sale
Active
1
BED
1
TOTAL BATHS
850
SQFT
Parc Vue #307
275 13th Street NE
Atlanta, GA 30309
New Listing - 3 weeks online
$399,000
Condo For Sale
Active
2
BED
2
TOTAL BATHS
1,350
SQFT
Parc Vue #211
275 13th Street NE
Atlanta, GA 30309
New Listing - 4 weeks online
$238,000
Condo For Sale
Pending
1
BED
1
TOTAL BATHS
765
SQFT
Parc Vue #304
275 13th Street NE
Atlanta, GA 30309
$289,900
Condo For Sale
Pending
2
BED
1
TOTAL BATHS
960
SQFT
Parc Vue #402
275 13th Street NE
Atlanta, GA 30309
$590,900
Townhouse For Sale
Active
2
BED
2
TOTAL BATHS
1,653
SQFT
199 12th Street #7
199 12th Street NE
Atlanta, GA 30309
New Listing - yesterday
$599,000
Townhouse For Sale
Active
2
BED
2
TOTAL BATHS
1,824
SQFT
199 12th Street #6
199 12th Street NE
Atlanta, GA 30309
$775,000
Single Family Home For Sale
Pending
2
BED
3
TOTAL BATHS
2,301
SQFT
972 Myrtle Street
Atlanta, GA 30309
Midtown Subdivision
$275,000
Condo For Sale
Pending
1
BED
1
TOTAL BATHS
792
SQFT
Park View #8
272 14th Street NE
Atlanta, GA 30309
$375,000
Condo For Sale
Pending
1
BED
1
TOTAL BATHS
940
SQFT
Lofts At The Park #701
206 11th Street NE
Atlanta, GA 30309
$349,900
Condo For Sale
Active
1
BED
1
TOTAL BATHS
1,038
SQFT
Lofts At The Park #204
206 11th Street NE
Atlanta, GA 30309
$425,000
Condo For Sale
Pending
1
BED
1
TOTAL BATHS
1,005
SQFT
Luxe #2105
222 12th Street NE
Atlanta, GA 30309
$1,499,000
Condo For Sale
Active
2
BED
3
TOTAL BATHS
1,820
SQFT
Luxe #1806
222 12th Street NE
Atlanta, GA 30309
$1,075,000
Condo For Sale
Active
2
BED
3
TOTAL BATHS
1,820
SQFT
Luxe #906
222 12th Street NE
Atlanta, GA 30309
$637,500
Condo For Sale
Pending
2
BED
3
TOTAL BATHS
1,727
SQFT
Luxe #707
222 12th Street NE
Atlanta, GA 30309
Price Change - 4 weeks ago
$649,000
Condo For Sale
Active
2
BED
3
TOTAL BATHS
1,732
SQFT
Luxe Condo #1103
222 12th Street NE
Atlanta, GA 30309
Price Change - 6 days ago
$189,000
Condo For Sale
Active
1
BED
1
TOTAL BATHS
620
SQFT
Midtown On 8th #3
317 8th Street NE
Atlanta, GA 30309
New Listing - a week online
$185,900
Condo For Sale
Active
1
BED
1
TOTAL BATHS
640
SQFT
Midtown On 8th #6
317 8th Street NE
Atlanta, GA 30309
$346,000
Condo For Sale
Pending
2
BED
1
TOTAL BATHS
1,082
SQFT
Parkview #23
272 14th Street NE
Atlanta, GA 30309
$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
Price Change - yesterday
$247,000
Condo For Sale
Active
1
BED
1
TOTAL BATHS
693
SQFT
Mayfair Renaissance #1404
195 14th Street NE
Atlanta, GA 30309
New Listing - 2 weeks online
$325,000
Condo For Sale
Pending
1
BED
2
TOTAL BATHS
1,055
SQFT
Mayfair Renaissance #811
195 14th Street NE
Atlanta, GA 30309
$249,900
Condo For Sale
Pending
1
BED
1
TOTAL BATHS
750
SQFT
Mayfair Tower #809
199 14th Street NE
Atlanta, GA 30309
New Listing - 3 weeks online
$250,000
Condo For Sale
Active
1
BED
1
TOTAL BATHS
750
SQFT
Mayfair Tower #2509
199 14th Street NE
Atlanta, GA 30309
New Listing - 2 weeks online
$375,000
Condo For Sale
Active
2
BED
2
TOTAL BATHS
1,007
SQFT
Mayfair Tower #1508
199 14th Street NE
Atlanta, GA 30309
Price Change - 3 weeks ago
$230,000
Condo For Sale
Active
1
BED
1
TOTAL BATHS
750
SQFT
Mayfair Tower #906
199 14th Street NE
Atlanta, GA 30309
$299,000
Condo For Sale
Pending
2
BED
2
TOTAL BATHS
1,103
SQFT
Mayfair Tower #305
199 NE 14th Street NE
Atlanta, GA 30309
New Listing - 3 days online
$369,900
Condo For Sale
Active
2
BED
2
TOTAL BATHS
1,161
SQFT
Park Central #604
1101 Juniper Street NE
Atlanta, GA 30309
New Listing - 2 weeks online
$379,900
Condo For Sale
Active
2
BED
2
TOTAL BATHS
1,158
SQFT
Park Central #921
1101 Juniper Street NE
Atlanta, GA 30309
New Listing - a week online
$319,900
Condo For Sale
Pending
2
BED
1
TOTAL BATHS
1,008
SQFT
Park Central #72
1101 Juniper Street NE
Atlanta, GA 30309
New Listing - 3 days online
$300,000
Condo For Sale
Active
1
BED
1
TOTAL BATHS
1,072
SQFT
Park Central #727
1101 Juniper Street NE
Atlanta, GA 30309
Price Change - 5 days ago
$234,900
Condo For Sale
Active
1
BED
1
TOTAL BATHS
723
SQFT
Park Central #708
1101 Juniper Street NE
Atlanta, GA 30309
$239,900
Condo For Sale
Pending
1
BED
1
TOTAL BATHS
764
SQFT
Park Central #1512
1101 Juniper Street NE
Atlanta, GA 30309
New Listing - 2 weeks online
$385,000
Condo For Sale
Pending
2
BED
2
TOTAL BATHS
1,161
SQFT
Park Central #54
1101 Juniper Street NE
Atlanta, GA 30309
$379,900
Condo For Sale
Pending
2
BED
2
TOTAL BATHS
1,169
SQFT
Park Central #319
1101 Juniper Street NE
Atlanta, GA 30309
Price Change - 2 weeks ago
$799,000
Single Family Home For Sale
Active
3
BED
3
TOTAL BATHS
3,287
SQFT
877 Penn Avenue NE
Atlanta, GA 30309
MIDTOWN Subdivision
$509,831
Condo For Sale
Pending
2
BED
2
TOTAL BATHS
1,502
SQFT
1023 Juniper Lofts #305
1023 Juniper Street NE
Atlanta, GA 30309
New Listing - 2 weeks online
$330,000
Condo For Sale
Active
1
BED
1
TOTAL BATHS
930
SQFT
1023 Juniper Lofts #105
1023 Juniper Street NE
Atlanta, GA 30309
Price Change - a week ago
$295,000
Condo For Sale
Active
1
BED
1
TOTAL BATHS
1,024
SQFT
Juniper Lofts #104
1023 Juniper Street NE
Atlanta, GA 30309
$224,900
Condo For Sale
Pending
1
BED
1
TOTAL BATHS
877
SQFT
Ansley Arms #307
1230 Piedmont Avenue NE
Atlanta, GA 30309
$299,000
Condo For Sale
Active
2
BED
1
TOTAL BATHS
858
SQFT
Piedmont Crescent #15
907 Piedmont Avenue NE
Atlanta, GA 30309