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1. Pricing Incorrectly
Don't let emotional ties influence pricing rather than market conditions. The first two to four is when you'll see the most action. If your home is not competitively priced, you could miss an opportunity to sell.
2. Failing to "Showcase" the Home
Pet, cigarette odors and cracking paint don't make good first impressions. The fewer problems buyers see, the easier it is for them to picture themselves as the new owners.
3. 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.
4. 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.
5. 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. Use a broad spectrum marketing plan.
6. 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.
7. 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 with any agent.
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