Seller's Top Ten Mistakes
This list of the top ten mistakes are geared towards you, the potential seller. Selling a home can and still is quite profitable in today's changing market.
MISTAKE #1: FSBO (For Sale By Owner) - Could you sell your home yourself? Certainly... thousands of people across the country do it everyday. Could you sell your home for top dollar, with less hassles and ensure that all the paperwork is completed correctly and the required disclosures are provided to the buyer? Most likely not.
- By trying to sell your home without the help of a professional agent, you limit the exposure of your home. Most realtors will not show a FSBO, you will not have access the same resources that a professional real estate agent has such as; Multiple Listing Services, Realtor.com and other online resources
- The number of forms/disclosures required to sell a home is mind boggling. Contracts are changed and updated annually by the Minnesota Association of Realtors. Realtors take continuous classes to stay on top of the most current legal requirements. Most of our files are 2 to 3 inches thick.
- Negotiation - it's not easy selling a home and it's definately not a simple matter of getting the buyer to offer the highest price. Experienced realtors understand that selling a home is a factor of PRICE and TERMS and how to focus on getting you the best options for both.
MISTAKE #2: Hiring an Out of the Area Realtor to sell your home - It is critical that you find a realtor that specializes in your neighborhood, knows the city requirements, studies and understands the market trends on a regular basis and has a great reputation in the real estate community.
MISTAKE #3: Hiring a SOLO Real Estate Agent to sell your home. I am not saying that you have to hire a Realtor that is part of a huge team. But, the Realtor that you hire should have a group of experts on THEIR team. The Diana Johnson team has dozens of years of experience and have managed 100's of real estate transactions.
MISTAKE #4: Hiring a PART TIME Real Estate Agent - To be honest... that's even worst than selling your home For Sale By Owner - the agent will rarely have the knowlege and experience required to sell your home and will still charge you a commission for it.
MISTAKE #5: Not having your home STAGED - Staged homes sell faster and for more money - period! I am a complete believer in staging. It is critical that your home shows its best and is optimized to create the most positive response with the potential buyers.
MISTAKE #6: Not getting a physical inspection performed prior to putting your home on the market. By inviting a physical inspector, you are able to foresee and address potential issues down the road and avoid cancelled escrows.
MISTAKE #7: Putting your home on the market too quickly! - Putting a house on the market is an event that requires careful planning and orchestration. We implement a marketing plan for each and every home we list giving you the peace of mind that your home will receive the very best marketing inthis highly competitive market.
MISTAKE #8: Not using the internet to the fullest - According to the National Association of Realtors, over 74% of all buyers start their search on the internet. Multiple photos, Virtual Tours, Blogs - all these SELL YOUR HOME! Make sure that your agent utilizes the most advanced technology. Make sure that your home is entered in every local Multiple Listing Service in your area. Make sure your agent posts your home information anywhere and everywhere! It's critical.
MISTAKE #9: Ignoring your neighbors - Chances are that your neighbor knows someone - a friend, a family member - that wants to live next to them. Have Open Houses for neighbors only. Send out special invitations for them and their loved ones. Let them know that they're welcome to visit and to tell all their friends about your home.
MISTAKE #10: Overpricing your home. Many sellers are under the wrong impression that if they start out high, they will eventually sell at the price they want. That strategy simply does not work. A home needs to be priced correctly the moment it hits the market. Work with your Real estate agent and review the current market condition for your area. Take a look at your competition, as well as the closed sales.