In a buyer’s market like today, home sellers have little room for error when putting their home on the market or they risk having their property stay on the market for so long that their only solution is to reduce their price. Sellers should take caution to avoid the following common traps.
1. Overpricing the home. Home values have dropped considerably since its peak in 2006, but sellers still are often tempted to list a home based on what they paid for it. Eventually they realize their error and have to reduce their price, sometimes several times. In the past month, 23% of homes listed for sale have reduced their price. There is a financing strategy seldom used by real estate agents that can considerably reduce the needed price reduction. For more information contact us at 1-877-APPLYFREE.
2. Relying too much on just comps. Size up your competition currently on the market, not just the homes that have already sold. Evaluate homes with a listing price similar to yours to see how well yours stacks up against the competitions and how you can differentiate. You must be better than your competition if you want to sell your home. For more information on how to set yourself apart from your competition, contact us at 1-877-APPLYFREE.
3. Failing to take into account the home’s web appeal. Photos are key when marketing a home online. 90% of buyers start their search on the Internet before they decide which ones to visit. If your photograps don't appeal to the public, you won't get any visitors. Be sure to include lots of high-resolution photos of the interior, including of the areas in a home that buyers most care about, such as kitchen, living spaces, and bathrooms.
4. Hovering during showings. Sellers certainly shouldn’t be home for showings, but as a seller’s agent, either should you. Lurking sellers or seller agents may make buyers nervous. Other real estate agents often want privacy with their buyers so they can gather true feedback about the house.
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