Biggest Home Seller Mistakes

ilisthomesSo your thinking about listing your home and selling. A hundred different scenarios go off in your head and a clear path to a successful closing seems a bit cloudy. Jim and his family sold their home down the road and got 10k over asking while your other neighbors home is still on the market. How do you compete with your listing and how can you make a profit off of the biggest transaction of your life? When selling any property here are somethings to avoid.

Home is overpriced.

  • One of the biggest reasons your home may not get any offers is pricing.

Lets say your home looks a bit like the one down the street yet is 12k higher. Buyers don’t see sentimental value or necessarily care that your grass looks better or that your fridge is top of the line. Buyers think big picture most of the time when looking for a home. How can they get the best bang for their buck and what kind of deal can they receive. The best advice is do your research on other homes in your area.

Avoid sites like Zillow or Trulia. WHY? Those sites are not actual brokerages and do not have access to accurate information on all listing statuses. Yes its free, but will lead you astray in pricing your home either way under value or over value.

To do a truly free evaluation of real time data in your neighborhood simply put in your address at www.ilisthomes.com.

Due to HAR regulations you are required to verify your email to see real time data, but they don’t ask for any other information. You will see other homes active and pending in your area to get accurate comps to compare to.

This  will give you a proper pricing evaluation to get your home listed to attract serious buyers!

Home seems under the weather.

  • When you go to sell, you don’t have to go spend thousands of dollars in repairs.

Think of your selling goals. If your trying to sell at decent price and your home value AS IS reflects that price, then relax and focus on the little things. Flippers or those who are using their properties as investments of course should take the other route and highly consider staging, appliance updating and landscaping to attract the highest offers they can. Lets assume though, your house is in fair condition and you simply want to get what you have put into it.

Think of buyers walking into your home. How does it smell? How does It feel? What are some of the first things they see? These are things to consider and approach first and foremost before ever having showings. Not that you need hundreds of offers, you only really need one. But don’t let the pet hair floating across the floor come between you and a qualified buyer.

Home isn’t marketed correctly.

With so many options out there, most first time home sellers opt for an agent. Where as other experienced sellers tend to go for the FSBO approach in which they list and market their home themselves. For any home to have a chance on the market though, it needs to be technically put on the “market”.

MLS  is the database for every listing that ever was or ever will be. Every state, every county is connected to this online portal that only licensed agents have access to. To get on this database and to get qualified buyers represented by other agents, you have to do business with a broker of some caliber. Sorry guys. There is no way around this.

Yet there are newer options available to sellers now to get the best of both worlds. Now you can market your home with the perks that come from being listed on MLS, but not have to pay an arm and a leg to an agent to represent you. ilisthomes is a new company that allows users to do just that.

You have an inexperience agent.

  • This means a rocky, questionable road ahead.

Why? Your agent could over price your home where buyers may not come or worse you get a full price offer and the appraisal comes back way under.

This means that your seller could say, hey, yes I want the house for what your asking. Then once contracts get signed and you finally sit back and relax, the bank comes back and says we will only give you X amount for it. You then either have to fight the under appraised value, or once again if your agent isn’t deal savvy, you must accept the lesser value and bite your tongue.

Think of the awkwardness at the closing table when you know your agent wasn’t completely prepared to represent you to the fullest. They will still get their commission either way, so choose wisely.

You don’t let go with the flow.

  • Be flexible, you never know that random showing at 7 p.m. on a Tuesday night might be your Cinderella.

A lot of clients will want to randomly pop in for a showing if they find your home online. Be open to leaving for an hour to let people come in a view your property. When an agent is ready and willing to show your home, be grateful and welcome them to it. Being flexible with showings means they can get into your property before going into another one!

So if you want to sell your house fast…

  • be mindful.

Put yourself in others shoes and see your home as they would. Price well, take care of your home and do some research on which marketing method will work best for you. Remember, the housing market is different than it was 10 years ago. No real estate transaction will ever be seamless, but the more knowledge you have typically the better decisions you can make that effect your outcomes in a positive way!

 

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