Every seller wants to receive as much money as possible when they sell their home. But a listing price that is too high often gets the seller less than a price that is at market value. If your house is not priced competitively, people looking in your price range will reject your house in favour of other, larger homes for the same price. At the same time, the people who should be looking at your house will not see it because it is priced over their heads! Overpricing usually increases time on the market, and that adds to the carrying costs. Ultimately, many overpriced properties sell below market value. Most potential buyers won’t even look at a home if they feel it’s out of their range.
Since the appraisal is often required in financing a property, it’s futile to price a property for more than its worth.
Those buyers who do look are shopping for comparisons, and looking at your home may convince them to make a bid on another property.
Mistake #2 – Failing to “Show Case” the Home
Buyers look for homes, not houses, and they buy the home in which they would like to live. Owners who fail to make necessary repairs, who don’t spruce up the house inside and out, touch up the paint and landscaping, and keep it clean and neat chase buyers away as rapidly as Realtors can bring them.
If you were selling a car, you would wash it, or maybe even detail it to get the highest price. Houses are no different.
Mistake #3 – Using the “Hard Sell” During Showings
Buying a house is an emotional decision. People like to “try on” a house and see if it is comfortable for them. It’s difficult for them to do that if you follow them around pointing out every improvement that you’ve made. It may even have the opposite effect you want, by making them feel they are intruding on your private space. Resist the temptation to be present when a potential buyer is there. This will give the potential buyer the opportunity to view the home in an appropriate manner. Ross Cooper and his team will ensure the best qualities of your home are highlighted.
Mistake #4 – Mistaking Lookers For Buyers
An agent will ask a buyer how much he can really spend for a house, how much he has to put down, how good his credit is, how much he can pay each month, how much he will realize (realistically!) when he sells his present home – and about a dozen other questions like that. This gives you a better idea about your buyers. Are they serious or out “looking” on a Sunday afternoon?
Mistake #5 – Not Knowing Your Rights & Obligations
Real estate law is extensive and complex; the contract for sale and purchase is a legally binding document. An improperly written contract can cause the sale to fall through, or cost you thousands for repairs, inspections, and remedies for title defects. You must be certain which repairs and closing costs you are responsible for. You
Mistake #6 – Limiting the Marketing and Exposure of the Property
The two most obvious marketing tools (open houses and classified ads) are only moderately effective. Advertising studies show that less than 3% of people purchased their home because they called on an ad. And if a machine answers, most callers just hang up without leaving a message.
The Cooper Approach employs a broad spectrum of marketing activities, emphasizing the ones we believe will work best for you. There are dozens of more effective ways to find buyers than just open houses and advertising. Being available to answer telephone inquiries, and referrals are a few.
Mistake #7 – Believing that an Appraisal is the Market Value of Your Home
Don’t make the mistake of thinking that the value you were told 6 months ago when you refinanced is what a real buyer would pay. Ask your Realtor for ALL of their active and sold listings in your area, discuss market trends and then decide. Get all the information first.
The Cooper Approach employs a broad spectrum of marketing activities, emphasizing the ones we believe will work best for you. There are many more effective ways to find buyers than just open houses and advertising. Being available to answer telephone inquires and referrals are a few.
Mistake #8 – Choosing the Wrong Realtor, or Choosing Him for the Wrong Reasons
It’s likely that you don’t interview people very often. And yet in order to find the Realtor who is right for you, you may interview several. The quality of your home selling experience is dependent upon your skill at selecting the person best qualified.
It’s interesting that in the real estate business, someone with many successfully closed transactions usually costs the same as someone who is inexperienced. Bringing that experience to bear on your transaction could mean a higher price at the negotiating table, selling in less time, and with the minimum amount of hassles. All Agents are not alike.
The fact is it does matter which real estate agent you decide to list your home with. It’s important to have an agent with education, experience, and know how to anticipate problems. Ross Cooper will professionally manage all issues within an acceptable time frame. You should select an agent based on credentials and a past track record.
An Associate Broker designation with an Assistant and a website support group are all in play to provide the service expected by his clients in a fast paced real estate environment.
Ross has never given pause to adding to his team if the end result benefits his customers.
The same goes for the tools that are needed to deliver information to, and on behalf of, his customer base. If they are needed they will be provided.