Many times, in order to save on the commission of a real estate agent, individuals decide to put their house up for sale on their own. Nowadays, spreading the word about a listing is very simple and can be done on a website in just a few minutes. Today we are going to detail the 5 most common mistakes that undoubtedly lead to failure.
- Price: The market value of a property is determined by various factors such as its location and condition, but also by the time of year, interest rates, economic outlook, and much more. Coming to the market with an inappropriate price will result in the market quickly overlooking our property, and it will be difficult to generate interest again, especially if too much time has passed.
- No Rush: Many clients tell me they are not in a hurry to sell their house. They think that being in a rush means a lower selling price. The reality is that the best price is usually obtained in the early stages of marketing.
- Neglecting Presentation: Buying a home is a highly emotional moment. The buyer is looking for a love at first sight, and experience shows us that often people end up buying a different property from what they initially had in mind. It is said that the sale is made in the first 10 seconds of the visit, but it actually starts before that. Investing time, money, and effort to optimize the appearance of the property is essential to get the best possible price.
- Getting Upset with the Buyer: When visiting a property or making an offer, the potential buyer of your house will have doubts and questions. The objections or criticisms they make about your house are not personal attacks. They are about to make the biggest investment of their life, sometimes indebting themselves for half of their life, and they want to feel secure. Keeping calm and responding to questions objectively is very important.
- Neglecting Paperwork: We place this aspect last, but chronologically, it is the first thing that should be addressed. Ensuring the legal security of the transaction involves verifying that there will be no surprises when it comes time to sign the sale. There may still be a mortgage registered that was paid off years ago. The description may not match reality, there could be a lien, a disciplinary record, etc. Having all aspects of the transaction under control is essential.
For any questions, feel free to contact me or inquire about our monthly talks.