How Not to Sell Your Home

by Jacque on April 13, 2010

How Not to Sell Your Home in North San Diego!

1.  Hiring a Realtor that no other Realtors want to do business with!  This is one most sellers don’t even consider.  Buyer’s agents know who the “good” listing agents are and who’s listings they don’t want to show because they know that paperwork won’t be handled timely or properly, ethics and standards adhered to, and sometimes huge egos to deal with. Some of the “biggest” listing agents fall into this category!

2. Hiring a Realtor because they give you a higher value of worth on your home. Sounds good right?  Wrong!  The Realtor doesn’t set the value of the home, the buyer’s do. Eventually you will have to reduce the price and “chase” the market down.  The final answer on value will be given by the lender’s appraiser.  It’s a good idea to have an appraisal  before putting the home on the market if there are any doubts about it being overpriced.  Realtors know that they can get you to hire them if they “overprice” your home and often do so.  Once you are working with them, they will say that the market has changed and you need to reduce your price.  Better to hire someone who can be honest with you upfront.  Houses sell for the highest price within the first 30 days of listing them.  After that it is downhill so price it right to begin with and maximize your profit.

3. Hiring an out of the community Realtor because they were referred by someone.  Realtors familiar with your community have buyers looking in your area and know the community history and local prices. Out of area Realtors frequently overprice or underprice a home because they are just not familiar with what is going on in your community, the number of buyers out looking, or the demand for homes.

4. Hiring a Realtor without technology skills or internet marketing experience.  Buyers are online, your home needs to be too.  Not just listed online, but complete with photos, virtual tour, maps, and open house schedules. Some older more established Realtors just are not able to learn these “new” skills.  Does your potential Realtor have a website?  Do they give a special web address for your listing.  Do they update the standard listing with a customize marketing flyer? All are important to buyers.

5. Insisting on no “open houses”!  Open houses do sell homes!  Buyers are out looking before they hire a Realtor to help them.  If a buyer walks into your home and falls in love with it, they will take the necessary steps to buy it.  More showings means more offers means higher price!

6. Insisting on 24 hour notice to show the property.  Most buyer’s agents make appointments the day before to show a home, but many times a buyer’s agent  will see something last minute and want to add it too.   If the listing says that 24 hour notice is needed,  the buyer’s agent may just bypass this listing or add it at a future time.  Less showings means less offers means lower selling price!

7. Insisting on accompanying potential buyers on their viewing of your home so you can point out the great features of the home. By doing this the buyer’s agent and buyers cannot speak freely and possibly solve some buyer hesitancy with this property that you may not be aware of.  The decision to buy your home or not will not depend upon them knowing upfront about the water recirculating system or the hard to find floor covering.  Most listings have those things on the flyers or MLS and if a buyer is interested after the first impression, those items will only confirm their impression. Best to leave the home when it is being shown.

8.  Offering less than 3% commission to the buyer’s agent.  Buyer’s agents want to maximize their return with their clients by showing them only the homes that will bring them a fair commission.  They bypass homes that don’t.  Less showings means less offers means lower selling price!

9.  Not cleaning, staging, and repairing your home to make a good first impression.  Buyers decide within the first 10 seconds of entering a home whether they like it or not and the rest of the tour only confirms that.  Opinions can change upon closer inspection but not often.  Brightly colored walls and dark rooms can immediately send a negative impression to a buyer and they won’t care if there is a water recirculating system or upgraded carpeting.

10. Not heeding  your Realtor’s opinion and thinking you know best about selling your home since you’ve sold lots of homes in the past!  Unless you’ve been in the Real Estate business full time in recent past, you do not know best!  That’s why you hired someone to help you.  Good idea to pay attention to your Realtor’s opinion.

How Not to Sell Your Home

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