Things Sellers Should Not Do in Today’s Market

As the real estate market begins to show signs of improving sellers must be prepared to do whatever it takes to get their home sold.  The market is not as great as it was in previous years, but as it continues to grow the possibility of your home selling quickly has increased.  And it can increase even more if you avoid making some of the most common mistakes made by sellers.

The first thing you should avoid doing is not taking your first buyer seriously.  In most cases your first buyer is your best buyer.  The potential home buyer who makes the first offer on your home is generally more motivated than other buyers looking at your home.  While this first buyer may submit an offer that is lower than your asking price, that is all part of the negotiation process.  You may choose to wait for a better offer, but with so many homes on the market you may end up regretting your decision to wait for a better buyer.  By the time you realize your mistake the first buyer who submitted an offer on your home has most likely moved on and already purchased a home.  Never ignore the offer of the first buyer, you may regret it later.

The next most common mistake made by seller is to offer buyers credits for work that they would prefer not to do themselves.  Many buyers do not want to have to deal with repairs or maintenance on a home they are selling.  While they are often aware of these problems, they are ready to move on.  This leads many sellers to offer credits to buyers instead of performing the necessary work on the home.  Instead of having to offer credits to buyers, it is recommended that you invest some money into your home before you even list it.  This will help your home sell faster and you can benefit from a higher asking price.

Another common mistake that many sellers regularly make is pricing their home too high.  Choosing to price your home at a high price does not fool anyone.  Knowledgeable buyers know what homes in the area are selling for, and if they don’t their agents do.  If you price your home too high it may end up sitting on the market without receiving any serious offers.  After you home has been sitting for a while you may be forced to reduce the price, in many cases this may be done more than once.  While your price may now be lower, buyers take into consideration how long your home has been listed.  If they feel that it has been on the market too long, they may overlook the listing and choose a newer listing over yours.  Listing your home at a reasonable asking price from the beginning can save you months of waiting for a serious offer to be submitted.

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>