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Avoid Common Seller Mistakes
With expert advice and representation from Christian, Paul and Fran you will successfully avoid mistakes often made by sellers.
- Pricing Incorrectly (too high or too low) It is essential the correct market value of your home be determined. If your asking price is more than the market will bear, many buyers will view similar but lower priced homes first. This not only limits your pool of potential buyers but also increases the chances your home will sell for less than its actual value due to the "discount" associated with properties that have been on the market for a longer than average time. Buyers often wonder... "What's wrong with that home, it's been for sale forever?" Alternatively, if your asking price is too low, you are literally giving away your hard-earned equity simply because you did not know what the market would bear.
- Failing to "showcase" your home A little work can improve the first impression of your home immensely. First impressions are lasting impressions and can dramatically affect a property's perceived value. Read some tips on getting ready.
- Using a bank appraisal or tax assessment as your home's market value Bank appraisals and tax assessments are based on general guidelines such as lot size and square footage, not the specific qualities of your home. Using either of these as a baseline could cause you to over- or under-price your property. Accurately assessing market value requires detailed knowledge of all recent neighbourhood sales and listings.
- Selecting the realtor with the highest estimate of your home’s value You must have full confidence in your Realtor's experience and abilities. Avoid choosing a realtor simply because he/she gives the highest estimate of your home's value. To achieve the best sale price within a reasonable period of time you need an accurate assessment of the true market value of your property is. Knowing this allows you to properly price your home, thus maximizing your chances of selling and allowing you to make your future plans with the sure knowledge that your goals can be attained.
- Failing to take current market conditions and trends into account Is it a Buyer's market, a Seller's market, a Balanced market? What do future trends look like?
- Not taking advantage of market fluctuations Keep your eye on the big picture. Are you moving up in a market downturn? If your $150,000 home has dropped 10% in value, so has your $300,000 dream home. Yes, you lose $15,000 on your current home, but you save $30,000 on your next purchase! Always buy and sell in the same market.
- Using "hard sell" during showings No one likes to be pressured and buyers wonder why you are so anxious to sell. Let your home speak for itself.
- Mistaking "lookers" for "buyers" Many people who look at homes for sale are just getting a feel for the market, seeing how others "showcase" their homes – some are just looking for decorating ideas. Christian, Paul and Fran deal with these situations on a full-time basis and separate the "lookers" from the actual "buyers".
- Limiting the marketing and exposure of your property Christian, Paul and Fran ensure your property is showcased and marketed in the best and most productive manner possible. Not allowing a "For Sale" sign on the front yard, or limiting viewing times can dramatically reduce the number of prospective purchasers seeing your home and have a serious impact on your bottom line.
