6 Mistakes Sellers Should Avoid

Emotions play many important roll in our lives, it’s what drive us to succeed and what drive us astray. Emotions get in our way when it comes to real estate. Buyers can’t negotiate in their favor because they get emotionally attach to the house they want to purchase and sellers can’t close a deal because they are to emotionally connected to the property they are trying to sell.

 

When it comes to negotiating the person that has the greatest control of their emotions will have the upper hand and the person with the most knowledge will come out on top. That is why it’s important for a seller selling FSBO to have a professional involved in the sale of their home. A Realtor will help put everything into perspective and can help you avoid costly mistakes.

Here are some other common mistakes to avoid.

 

Decided to do it FSBO – A 2007 study by the National Association of Realtor’s shows that when selling FSBO (a.k.a. private sale), those sellers will typically net an average of 16% less, then if they where to sell with the assistance of a real estate Broker.

Established their own value- If a property is not priced correctly when it’s put on the market that property will spend more time on the market and result in a lower sales price.

Rejected the first offer- There are many sad stories about sellers regretting to accept the first offer that was presented to them.

Seller is not motivated – In a buyers market non-motivated sellers tend to saturate the market with more homes, ultimately bringing home prices down. 

Failing to interview more than one agent- Like doctors and lawyers there are good and bad Realtors out there. In order to eliminate your chances of working with a bad agent it’s good practice to interview at least three.

Putting the home on the market before its ready- The first month or two is when a new listing gets its most activity. In order to take full advantage of that window of opportunity the property needs to be ready to sell prior to being put on the market. In order to do so it needs to be cleaned, de-cluttered, and de- personalized