Mistake #1: Selling for the Wrong Price
Of course, every seller wants to get the most money out of their property. However, this will not happen if you price your property too high. A high listing price will cause buyers to lose interest before they even look at your property. Alternatively, a listing price that is too low will cause buyers to think that there is something wrong with the property, or you are hiding something. In general, your property should be priced according to its fair value, taking market conditions as well as other factors into consideration.
Mistake #2: Failing to Properly Showcase your Home
As obvious as this mistake may seem, it is still very widespread among home sellers. If you are trying to sell your home, it is imperative that you make your home as pleasant looking as possible. Failing to ensure your home is clean, presentable and welcoming will quickly turn away potential buyers.
Mistake #3: Trying to Hard Sell During a Showing
Buying a home is a very emotional experience. After all, it is likely the largest investment anyone will ever make. As a result, you should allow prospective buyers to comfortably examine your property. Trying to forcefully sell your home during a showing will take away from the pleasant home buying experience. This will make any potential buyer look elsewhere. If you are home when a buyer comes for a showing, go for a walk around the neighbourhood to give them the opportunity to feel comfortable walking through your home.
Mistake #4: Trying to Sell to “Window Shoppers”
Not everyone who comes to your open house is a prospective buyer. A good real estate agent will be able to distinguish between a “window shopper” and a real interested buyer. Trying hard to sell to the wrong people is very inefficient and time consuming. This will result in missed opportunities to focus your attention on real interested buyers.
Mistake #5: Signing a Contract with Your Agent with No Escape
Hopefully you take your time to pick the right real estate agent to represent you. However, as we can relate, circumstances sometimes do in fact change. Before signing a contract with your agent, make sure you are not bound to that realtor in any way. You should know the exact terms of the contract, so in circumstances where you want to find another agent, you can easily do so without any penalties.
Mistake #6: Ineffective Marketing and Advertising
Your real estate agent should have the experience to employ the necessary marketing techniques to help sell your home. Currently, the internet is the number one method to attract prospective buyers. When searching for an agent, make sure they have the necessary skills and resources to use the internet effectively to attract buyers. Otherwise, you will risk your home being on the market longer than it should be.