Selling a Home

Mistakes to Avoid

When competing with numerous homes on the market, making a mistake can lead to a delayed sale and possibly less money. These guidelines should give you insight on what not to do when selling your home.

Pricing incorrectly
Don't allow your emotional ties to influence pricing rather than market conditions. The first 2-4 weeks is when you'll see the most action. If your home is not competitively priced, you could miss an opportunity to sell.

Failing to "show case" the home
Pet and cigarette odors and cracking paint don't make for good first impressions. Your home should look, feel and smell its best. The fewer problems buyers see, the easier it is for them to picture themselves as the new owners. Buyers look for homes, not houses!

Using the "hard sell" during showings
Don't follow lookers around pointing out improvements and great features. People want to view the house on their own to see if they feel comfortable in it.

Not knowing your rights and obligations
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 in repairs and inspections. Know which repairs and closing costs are your responsibilities.

Signing a listing contract with no way out
Even though an agent may have every intention of selling your home, unforeseen circumstances may prevent them from completing the sale. Therefore, you should have the right to terminate your contract with them at any time. Always protect yourself by getting a guarantee of performance with the right to cancel.

Limiting the marketing and exposure of the property
The two most obvious marketing tools (open houses and classified ads) are only moderately effective. Homes aren't generally sold by using these mediums – less than 1 percent for open houses; 3 percent for ads. You need a broad spectrum marketing plan.

Choosing the wrong agent
Choose a real estate professional who is familiar with your neighborhood and has excellent marketing skills. You should be contacted often with updates about your property. A good agent will tell you what you should hear, not what you want to hear.

Not asking for a marketing plan from your agent
There are many ways to market your house, and your agent will know the most effective methods. Ask for a specific plan of attack before signing on the dotted line with any agent.