Selling Mistakes To Avoid
These are 5 common mistakes that sellers make when they list their property. Avoiding these mistakes can save you time and money.
Listing at the wrong price
When putting your home on the market, you want to sell it for the highest possible price to generate the most net proceeds. However, listing your home at an excessively high price is usually not the best way to proceed. Doing this can cause some prospective buyers to lose interest before even seeing your home, it can also create an expectation of your home that is too high. Overpriced properties tend to take an unusually long time to sell, and they end up being sold at a lower price.
Not understanding market value
Market value is really the price a buyer is willing to pay for your home. Reviewing recently sold comparable homes in your neighborhood, the length of time these homes were on the market, and any seller concessions. This will give you an accurate and factual estimate of your property value.
Being ignorant of your rights & responsibilities
It is important that you are well informed of the details in your real estate contract. Real estate contracts are legally binding documents, and they can often be complex and confusing. Not understanding the terms in your contract could cost you thousands of dollars for repairs. Make sure that you know what you are responsible for prior to signing the contract.
Restricting the marketing and advertising of the property
There are obvious marketing tools that nearly every seller uses: classified ads. Unfortunately, this is rather ineffective. Growing trends and markets means to get a good price your property has to be marketed to a wider audience. We can offer you many unique and effective marketing tools such as, on-line marketing and open houses. We aim to reach the growing global market.
Selecting the wrong Estate Agent
Selling your home could be one of the largest and most important financial transactions you will ever complete. Take your time when selecting a estate agent. Interview agents and ask them key questions. A knowledgeable and experienced agent will be able to bring you a higher price in less time and with fewer hassles but remember they come at a cost of around 7.5% of the sell price for good one. Another reason to list your property online and sell it yourself
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July 5th, 2007 13:58
Very usefull and relevant article! Thanks!
But i would have to sugest something else, its to do with your last point about Estate Agents, buying property this way is the old fashioned way. There are sites that you can use to find property for you and then you buy that property online, easy-peasy!
With these sort of sites you can find flats to rent in Glasgow even!
There are also sites that can help you work out the right price to pay for a particular property like HomeTrack and even HousePriceCrash!
So my point is the internet has a wealth of information (like this article) so it shouldn’t be overlooked!