Anyone who is selling a home has probably made mistakes that caused a sale to be lost. Of course,there are levels of mistakes that can be made. The results of some mistakes have more impact on losing a sale than others. There are many reasons why this happens. At least it is a good thing that there is a lot of data that has been accumulated over the years. Information exists on just about any type of mistakes you,as a home seller,can make. And don’t harbor the false belief that real estate agents don’t make mistakes because they can and do. That’s why a lot of them carry Errors and Omissions insurance.
It’s important to have an understanding of how homes are priced so you will avoid common mistakes. A common mistake is listing your home at an unreasonable price in your area. You need to make a reasonable guess in regard to how much your house will sell for. By taking into account average selling price for a home in your area,you are factoring in some important information. Basically,your real estate agent needs to do the best job possible,which means they need to be aware of all of the factors involved. You should have your house professionally appraised by a couple different appraisers to see if they are different or not. The selling price that you receive from each appraiser will be determined in a subjective manner many times.
It is typical that most home sellers do not research their local market before listing their house in their area. Anyone that has problems doing this on their own should ask their realtor for help. You really need to find out if your market is declining in your area or not.
On the other hand,if you the market is rising,or at least steady,this can be very beneficial. If you happen to be in a declining market,then your asking price will be affected. The price of your house should be listed around mid range if you happen to be in a declining market when you start to sell. Your house will not sell,in most cases,if you decide to list it at a higher price comparative to other listings.
It’s never a good idea to try to talk your agent into accepting a lower commission than what is normal in your area. The standard commission will be spelled out in the listing agreement. Talk to other people and discover what the normal commission percentage is in your market place. Then compare that with what you see in the agreement. The easiest way to handle this is to see what your agent says when you ask if the commission they are asking is standard in your area. Give this some serious thought. If you offer them less money to sell your home,they will do less work to sell it. This is common sense. Their motivation for showing your home to potential buyers will be less than showing a home with a higher commission. It’s simple street economics as well as human nature so do keep this in mind.
You really need to find a good agent and stay clear of the majority of home selling mistakes that are typically made. Setting the right price to sell your house at is what a knowledgeable agent will be able to do. If you really want to sell your home,this needs to be set appropriately. Basically,if the price isn’t appropriate,you may end up losing on the deal.