Mistakes Home Sellers Make
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9 Deadly Mistakes Home Sellers Make
Mistakes Home Sellers Make #1. USING A REAL ESTATE AGENT INSTEAD OF A REALTOR®
When you’re looking for help buying or selling a property, it’s important to remember that the
terms “real estate agent” and “Realtor®” are not synonymous. Realtors can provide an extra
level of service and to be a Realtor® you must be a member of the National Association of
Realtors® (NAR). The equivalent organization in Canada is the Canadian Real Estate
Association (CREA). Both are non-profit trade organizations that promote real estate
information, education and professional standards. The National Association of Realtors also
has earned a strong reputation for actively championing private property rights and working
to make home ownership affordable and accessible.
The CREA members adhere to a strict code of ethics founded on the principle of
providing fair and honest service to all consumers.
Realtor® business practices are monitored at local board levels.
Arbitration and disciplinary systems are in place to address complaints from the public or
board members. This local oversight keeps Realtors® directly accountable to the individual
consumers they serve and therefore the consumer is more likely to find better service and
accountability by using a Realtor®.
Mistakes Home Sellers Make #2. COMPLACENT MARKETING WHEN SELLING A HOME
When selling your home there are no guarantees that the ultimate buyer of your home will
have simply walked through the front door. In many cases, you may have to bring your home
to the buyer. Effective marketing will help ensure that your property receives maximum
exposure to attract a ready, willing and able buyer in the shortest period of time.
Ask your Realtor to list for you all of the ways he/she intends to market your home and on
what timeline. Also, be sure to ask about the home being advertised on the Internet.
Mistakes Home Sellers Make #3. TAKING FOR GRANTED THE “CURB APPEAL” OF YOUR HOME
When you’re preparing your house for sale, remember the importance of first impressions. A
buyer’s first impression can make or break whether they even want to go inside for a look. It
is estimated that more than half of all houses are sold before the buyers even get out of their cars.
With that in mind, be sure to stand outside of your home and take a realistic “fresh look” and
then ask yourself what can be done to make the “curb appeal” improve. Also, ask your
Realtor’s opinion as to how to improve the curb appeal. It could make a huge difference in
your final sales price.
Mistakes Home Sellers Make #4. FORGETTING ABOUT HEALTH AND SAFETY ISSUES
Be upfront and disclose to your Realtor any problems with the property. The problems are
going to be discovered anyway. A decade ago, health and safety issues were rarely a part of
the typical real estate transaction. Today, however, it’s common for inspections relating to
health, safety, and even environmental concerns to be a part of most sales contracts.
Moreover, in many states, the seller must disclose to the buyer any knowledge of existing
property problems. In many cases, these issues have been or can be factored into the home’s
listing price.
Mistakes Home Sellers Make #5. FORGETTING WHAT YOU WOULD WANT TO SEE IF YOU
WERE THE BUYER OF YOUR HOME
Remember that although people can be different in personality, they tend to be the same
when it comes to expectations at someone else’s expense. In other words, a prospective buyer
would probably like to see a perfect home from top to bottom, inside and out, when it comes
to your home. Try to do as many of the following items as possible to improve the likelihood
of your home sale in an expedient way.
On the outside
1) Sweep front walkway.
2) Remove newspapers, bikes and toys.
3) Park extra cars away from the property.
4) Trim back the shrubs.
5) Apply fresh, clean paint throughout.
6) Clean windows and window coverings throughout.
7) Keep plumbing and all appliances in working order.
8) Maintain all sealant (window, tub, shower, sink, etc.) in good
condition.
9) Make sure roof and gutters are clean and in good condition.
10) Mow the lawn frequently and plant flowers.
11) Keep pet areas clean.
On the inside
1) The kitchen and bathroom should shine.
2) Quick once-over with the vacuum; carpets should be clean.
3) Place fresh flowers in the main rooms.
4) Put dishes away, unless setting a formal display for decoration.
5) Make all beds and put all clothes away.
6) Open the drapes and turn on lights for a brighter feel.
7) Straighten closets.
8) Put toys away.
9) Turn off the television.
10) Play soft music on the radio/stereo.
11) Keep pets out of the way and pet areas clean and odour-free.
12) Secure jewelry, cash, prescription medication and other valuables.
13) Enhance the spaciousness of each room.
Mistakes Home Sellers Make #6. THINKING YOU NEED TO BE IN THE HOME TO EXPLAIN
THINGS TO A PROSPECTIVE BUYER
You will be better served if you allow your Realtor to do their job without you there. Most
potential buyers usually feel more comfortable if they can speak freely to the real estate
professional without the owners being present.
If people unaccompanied by an agent request to see your property, you should refer them to
your real estate professional for an appointment.
Mistakes Home Sellers Make #7. NOT KNOWING HOW TO PRICE YOUR HOME TO SELL
Perhaps the most challenging aspect of selling a home is listing it at the correct price. It’s one
of several areas where the assistance of a skilled real estate agent can more than pay for
itself. Listing the home too high can be as bad as too low. If the listing price is too high,
you’ll miss out on a percentage of buyers looking in the price range where your home should be.
This is the flaw in thinking that you’ll always have the opportunity to accept a lower offer.
Chances are the offers won’t even come in, because the buyers who would be most interested
in your home have been scared off by the price and aren’t even taking the time to look.
By the time the price is corrected, you’ve already lost exposure to a large group of potential
buyers. The listing price becomes even trickier to set when prices are quickly rising or
falling. It’s critical to be aware of where and how fast the market is moving – both when
setting the price and when negotiating an offer. Again, an experienced, well-trained agent is
always in touch with market trends – often even to a greater extent than appraisers, who
typically focus on what a property is worth if sold as-is, right now.
Mistakes Home Sellers Make #8. NOT PLANNING YOUR MOVE EARLIER ENOUGH
Many sellers simply don’t plan their move early enough and then feel totally overwhelmed at
the time of moving out of the house. If you are able to move at any time of the year, don’t
wait until summer, the peak-moving season.
Consider also that the first and last few days of the month are extra busy. If you plan to sell
your house, get it on the market as soon as possible. Keep a record of all expenses related to
the move, some of which may be tax deductible.
Fill out the Personal Household Inventory for each room. This is important for establishing
the amount of declared valuation for the shipment and as a permanent inventory for insurance
purposes. List, as nearly as possible, the year of purchase and the original cost of each item.
Attach any invoices or records of purchase to the completed inventory.
Prepare a separate high-value inventory if the shipment will contain articles of
“extraordinary” value. The following list includes items that might fall into this category:
* Antiques
* Art Collections
* Cameras
* China Collections
* Computer Equipment
* Crystal
* Figurines
* Firearms
* Jewelry
* Manuscripts
* Oriental Rugs
* Silver
* Stones Or Gems
* Tapestries
* TVs Or Stereos
Also, unless you have been given a binding moving estimate where a firm cost is established
in advance, the exact cost of a move cannot be determined until after the shipment has been
loaded on the van and weighed.
The weight on which charges are based is calculated by weighing the van before and after
loading. The total cost of the move will include transportation charges, any charges for
declared valuation, plus charges for any extra services performed at your request.
All of these charges are based on tariff rate schedules.
Mistakes Home Sellers Make #9. USING A “CONVENIENT” REALTOR® RATHER THAN USING AN
EXPERIENCED REALTOR®
When working with a real estate agent, it’s critical that you have full confidence in that
agent’s experience and education. A skilled, knowledgeable agent should be able to explain
to you exactly why your home needs to be priced at a certain level – compared to recent
listings and sales of homes similar to yours.
Experienced agents also know exactly what the current pool of buyers are looking for in
relation to particular styles and price ranges of properties. A skilled agent can recommend
changes that will enhance the salability of your home, thus increasing the price – and/or
decreasing the length of time before a sale.
1. If we can’t bring you an offer for our guaranteed price in 90 days, we’ll SELL your property for FREE. You will only pay the buyer’s agent portion of the commission* (Conditions apply)
2. If another Realtor® or Brokerage offers you a more comprehensive marketing program, we’ll SELL your property for FREE. You will only pay the buyer’s agent portion of the commission.*(Conditions apply)
3. ANY BUYERS in your area will know that your property is for sale. Thanks to our Referral Fee incentive program, the rest of the public, will be encouraged to recommend your property to friends, relatives or colleagues.
4. At ANY TIME during the listing agreement, on your request, we will CANCEL it. No questions asked.
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