9 Costly Mistakes a Seller Makes When Selling Their Home
July 9th, 2007 categories: Selling San Diego Real Estate
MISTAKE #1. USING A REAL ESTATE AGENT INSTEAD OF A REALTOR
When you’re looking for help buying or selling property, it’s important to remember that the terms “real estate agent” and “REALTOR” are not synonymous.
I am a REALTOR. As a REALTOR, I provide an extra level of service and to be a REALTOR you must be a member of the National Association of REALTORS (NAR). NAR is non-profit trade organizations that promotes real estate information, education and professional standards.
The National Association of REALTORS also has earned a strong reputation for actively championing private property rights and working to make home ownership affordable and accessible. The NAR members adhere to a strict code of ethics founded on the principle of providing fair and honest service to all consumers.
REALTOR business practices are monitored at local board levels. Arbitration and disciplinary systems are in place to address complaints from the public or board members. This local oversight keeps REALTORS directly accountable to the individual consumers they serve and therefore the consumer is more likely to find better service and accountability by using a REALTOR.
MISTAKE #2. COMPLACENT MARKETING WHEN SELLING A HOME
When selling your home there are no guarantees that the ultimate buyer of your home will have simply walked through the front door.
In many cases you may have to bring your home to the buyer. Effective marketing will help ensure that your property receives maximum exposure to attract a ready, willing and able buyer in the shortest period of time.
Ask me your “ REALTOR for Life ” to list for you all of the ways I intend to market your home and on what time-line. Also, be sure to ask me about how I advertise the home on the Internet. Most Buyers check the Internet before they begin to actual process of engaging a REALTOR. A good Internet marketing plan is essential to sell today.
MISTAKE #3. TAKING FOR GRANTED THE “CURB APPEAL” OF YOUR HOME
When you’re preparing your house for sale, remember the importance of first impressions. A buyer’s first impression can make or break whether they even want to go inside for a look. It is estimated that more than half of all houses are sold before the buyers even get out of their cars. With that in mind, be sure to stand outside of your home and take a realistic “fresh look” and then ask yourself what can be done to make the “curb appeal” improve. Also be sure to ask my opinion as to how to improve the curb appeal. It could make a huge difference in your final sales price.
MISTAKE #4. FORGETTING ABOUT HEALTH AND SAFETY ISSUES
Be up front and disclose any problems with the property. Yes, even the ones that don’t seem all that important to you. They may be to the Buyer. The problems are going to be discovered anyway so the sooner they are dealt with the sooner the settlement can take place.
A decade ago, health and safety issues were rarely a part of the typical real estate transaction. Today, however, it’s common for inspections relating to health, safety, and even environmental concerns to be a part of most sales contracts. Moreover, the seller must disclosure to the buyer any knowledge of existing property problems. In many cases, these issues have been or can be factored into the home’s listing price. If not, some critical decision making will need to be done at or before listing the property for market.
MISTAKE #5. FORGETTING WHAT YOU WOULD WANT TO SEE IF YOU WERE THE BUYER OF YOUR HOME
Remember that although people can be different in personality, they tend to be the same when it comes to expectations at someone else’s expense. In other words, a prospective buyer would probably like to see a perfect home from top to bottom, inside and out, when it comes to your home. Try to do as many of the following items as possible to improve the likelihood of your home sale in an expedient way.
On the outside1) Sweep and hose down the front walkway. Clean the front door.
2) Remove newspapers, bikes and toys.
3) Park extra cars away from the property and out of the driveway.
4) Trim back the shrubs.
5) Apply fresh, clean paint throughout.
6) Clean windows and window coverings throughout.
7) Keep plumbing and all appliances in working order.
Maintain all sealant (window, tub, shower, sink, etc.) in good condition.
9) Make sure roof and gutters are clean and in good condition.
10) Mow the lawn frequently and plant flowers, Lots of them!
11) Keep pet areas clean. 1) Sweep and hose down the front walkway. Clean the front door. 2) Remove newspapers, bikes and toys.3) Park extra cars away from the property and out of the driveway.4) Trim back the shrubs.5) Apply fresh, clean paint throughout.6) Clean windows and window coverings throughout.7) Keep plumbing and all appliances in working order.8) Maintain all sealant (window, tub, shower, sink, etc.) in good condition.9) Make sure roof and gutters are clean and in good condition.10) Mow the lawn frequently and plant flowers, Lots of them!11) Keep pet areas clean.On the inside1) All surfaces in the kitchen and bathroom should shine.
2) Quick once-over with the vacuum; carpets should be clean. Don’t forget the baseboards.
3) Place fresh flowers in the main rooms.
4) Put dishes away, unless setting a formal display for decoration.
5) Make all beds especially attractive and put all clothes away.
6) Open the window coverings and turn on the all the lights.
7) Straighten and organize the closets. Really Important!
Put childrens toys away.
9) Turn off the TV.
10) Turn on the stereo and set it for soft music.
11) Remove pets and be sure pet areas clean and odor-free.
12) Secure jewelry, cash, prescription medications and any other valuables.
13) Enhance the spaciousness of each room by de-cluttering.
MISTAKE #6. THINKING YOU NEED TO BE IN THE HOME TO EXPLAIN THINGS TO A PROSPECTIVE BUYER1) All surfaces in the kitchen and bathroom should shine.2) Quick once-over with the vacuum; carpets should be clean. Don’t forget the baseboards.3) Place fresh flowers in the main rooms.4) Put dishes away, unless setting a formal display for decoration.5) Make all beds especially attractive and put all clothes away.6) Open the window coverings and turn on the all the lights.7) Straighten and organize the closets. Really Important!8) Put childrens toys away.9) Turn off the TV.10) Turn on the stereo and set it for soft music.11) Remove pets and be sure pet areas clean and odor-free.12) Secure jewelry, cash, prescription medications and any other valuables.13) Enhance the spaciousness of each room by de-cluttering. THINKING YOU NEED TO BE IN THE HOME TO EXPLAIN THINGS TO A PROSPECTIVE BUYERYou will be so much better served if you allow me to do that job without you being there. Most potential buyers usually feel more comfortable if they can speak freely to the real estate professional without the owners being present.
1) All surfaces in the kitchen and bathroom should shine.2) Quick once-over with the vacuum; carpets should be clean. Don’t forget the baseboards.3) Place fresh flowers in the main rooms.4) Put dishes away, unless setting a formal display for decoration.5) Make all beds especially attractive and put all clothes away.6) Open the window coverings and turn on the all the lights.7) Straighten and organize the closets. Really Important!8) Put childrens toys away.9) Turn off the TV.10) Turn on the stereo and set it for soft music.11) Remove pets and be sure pet areas clean and odor-free.12) Secure jewelry, cash, prescription medications and any other valuables.13) Enhance the spaciousness of each room by de-cluttering. THINKING YOU NEED TO BE IN THE HOME TO EXPLAIN THINGS TO A PROSPECTIVE BUYERYou will be so much better served if you . Most potential buyers usually feel more comfortable if they can speak freely to the real estate professional without the owners being present.If people unaccompanied by an agent request to see your property, you should always refer them to me, your real estate professional for an appointment. NEVER , NEVER, NEVER allow a stranger in your home no matter what they say. They must make an appointment with me to see the home.
MISTAKE #7. NOT KNOWING HOW TO PRICE YOUR HOME TO SELL
Perhaps the most challenging aspect of selling a home is listing it at the correct price. It’s one of several areas where my skills as your REALTOR for Life, can more than pay for itself. Listing the home too high can be a tragic mistake.
If the listing price is too high, you’ll miss out on a percentage of buyers looking in the price range where your home should be. This is the flaw in thinking that you’ll always have the opportunity to accept a lower offer.
Chances are the offers won’t even come in, because the buyers who would be most interested in your home have been scared off by the price and aren’t even taking the time to look. By the time the price is corrected, you’ve already lost exposure to a large group of potential buyers.
The listing price becomes even trickier to set when prices are quickly rising or falling. It’s critical to be aware of where and how fast the market is moving – both when setting the price and when negotiating an offer. Again, an experienced, a well-trained agent like myself is always in touch with market trends – often even to a greater extent than appraisers, who typically focus on what a property is worth if sold as-is, right now.
MISTAKE #8. NOT PLANNING YOUR MOVE EARLIER ENOUGH
Many sellers simply don’t plan their move early enough and then feel totally overwhelmed at the time of moving out of the house. If you are able to move at any time of the year, don’t wait until summer, the peak-moving season.
Consider also that the first and last few days of the month are extra busy. In fact , I try never to schedule a closing on a Friday. A little unexpected glitch and no one is going to move in or out over the weekend as planned. If you are planning to sell your house, get it on the market as soon as possible.
Keep a record of all expenses related to the move, some of which may be tax deductible. Fill out the Personal Household Inventory for each room. Take lots of pictures if you have a digital camera. ( One useful way it to decide what goes in each box. Lay very thing out and take a picture of the contents. Before sealing the box , print out the photos and put one in the box and keep one set aside in a folder).
This is important for establishing the amount of declared valuation for the shipment and as a permanent inventory for insurance purposes. List, as nearly as possible, the year of purchase and original cost of each item. Attach any invoices or records of purchase to the completed inventory. Prepare a separate high-value inventory if the shipment will contain articles of “extraordinary” value. The following list includes items that might fall into this category:
Antiques
Art Collections
Cameras
China Collections
Computer Equipment
Crystal
Porcelains
Jewelry-should be packed separately and carried personally.
Manuscripts
Oriental Rugs
Silver
Stones Or Gems
Tapestries
TV’s and Stereos
Also, unless you have been given a binding moving estimate where a firm cost is established in advance, the exact cost of a move cannot be determined until after the shipment has been loaded on the van and weighed. The weight on which charges are based is calculated by weighing the van before and after loading. The total cost of the move will include transportation charges, any charges for declared valuation, plus charges for any extra services performed at your request. All of these charges are based on tariff rate schedules.
MISTAKE #9. USING A “CONVENIENT” REALTOR RATHER THAN USING AN EXPERIENCED REALTOR
When working with a real estate agent, it’s critical that you have full confidence in that agent’s experience and education. A skilled, knowledgeable agent like myself will be able to explain to you exactly why your home needs to be priced at a certain level – compared to recent listings and sales of homes similar to yours.
Experienced agents also know exactly what the current pool of buyers are looking for in relation to particular styles and price ranges of properties. As a skilled agent, I can recommend changes that will enhance the salability of your home, thus increasing the price – and/or decreasing the length of time before a sale. When you want the best in Knowledge, Experience, Dedication and Satisfaction, I would ask you to consider and select me to represent you and your most valuable asset. Thanks for allowing me to earn your Trust and be your “REALTOR for Life“.
