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Mistakes That
Delay Sales
We provide real estate services to buyers
and sellers in Pennsylvania (Berks County, Chester County, Delaware County,
Montgomery County, Philadelphia, Drexel Hill, Haverford Township, Havertown and Upper Darby) as well as in
New Jersey (Brigantine, Atlantic City, Ocean City, Camden County and Gloucester
County).
Delays in the settlement or closing of home sales are not uncommon. Being
aware of these mistakes will help you avoid delays.
Mistake #1: Not taking the time to
enhance your home’s showing.
When potential buyers drive past your home, their first impression will be based
on what they see on the outside. If the buyer is disappointed, they probably
won’t want to take the time to go inside, no matter how nice the inside may
look. Many sales are already closed before the buyer walks inside, based solely
on the outside appeal of the house. There are many things you can’t change,
such as location or lot size, but you can enhance the appearance of your home
with a few minor alterations and some serious cleaning. Ask your REALTOR what
can be done to make your home more attractive. A good agent will know what
buyers look for.
Mistake #2: Insisting that your home is shown only when it is convenient for
you.
While no one wants their dinner disturbed by strangers trooping through the
house, often the only time buyers can see your home is after work hours or on
weekends. Plan ahead. Keep the house orderly and make time away from home. If
possible, plan events to take weary children away from home showings. Sure, a
last minute showing might be a minor inconvenience, but it also may be the last
buyer who sees your house before deciding to buy it.
Mistake #3: Attempting to hide problems with your home.
Be honest with your REALTOR and your potential buyers with regards to the
property relating to health, safety, or environment. It’s common today for
inspections to be a part of the sales contract, and during the inspections most
problems will be discovered anyway, but hiding the truth can kill a sale and
land you in court. It’s much better to factor the costs of repairs into the
sale rather than face lawsuits after the fact.
Mistake #4: Inadequate marketing methods.
In most cases, you will have to advertise your home. Marketing today requires
much more than a “for sale” sign on the lawn. Prospective buyers with their
busy schedules don’t have the time to simply look through the classified ads.
Your home should be marketed 24/7 hours a day with virtual home tour on the Internet
where most buyers start their search -- including those who are actively working
with agents. Ask your REALTOR what strategies are in
place so that you can be sure your property is generating potential leads 24/7.
Mistake #5: Failing to look at your home from the buyer’s perspective.
Sellers tend to become too comfortable with the clutter that surrounds their
home. Buyers may tolerate such mess in their own homes, but the homes they
are looking at to buy must be spotless. A repair, no matter how small, is
something the buyer will look at as an added expense and inconvenience when
purchasing the home, and can thus use it to negotiate a lower price (typically,
at an amount much higher than the actual repair cost).
Mistake #6: Offering explanations about your home during showings.
Potential buyers usually feel more comfortable when the homeowners are not
present. If you do remain home, resist the urge to offer explanations, point
out perceived flaws or offer to repair items that the buyer might not have
noticed or question your REALTOR about. People differ in preferences.
The less
said, the better.
Mistake #7: Not understanding how to price your home properly.
Determining the market value of your home is one of the most challenging aspects
of the entire selling process. If the list price is too high, you’ll limit
showings and offers. Some home sellers believe they have to price the property
high so that they can accept a lower offer or have room to negotiate. Potential
buyers who may have otherwise liked the home don’t bother to come by because of
the high asking price. It’s important to know and understand how the current
market works. A buyer is more likely to make a full price offer on a home that
is priced right before making a low offer on a home that is priced too high. A
top-producing agent will know how to advise you to price your property correctly
to generate the most profit.
Mistake #8: Not planning your move before your home sells.
Many sellers don’t plan their move early
enough, then they feel totally overwhelmed when it comes time to vacate the
property. Have your move organized before a contract is ever signed. Don’t
wait until the last minute to get an estimate from a moving company. When you
do things last minute, the price can skyrocket and you don’t have the time to
shop around. Be sure to keep a record of your expenses during the move. Many
of these expenses can be tax deductible. Take an inventory of everything you
own so that you know the proper things arrive at your new home.
Mistake #9: Being inflexible or unwilling to compromise.
Sometimes it is necessary to be flexible when it comes to the sale of your
home. If you’re not willing to budge about the date you move out, price,
necessary repairs, etc, the buyers can become discouraged or even angry.
Agreeing to a repair that might cost a couple of hundred dollars might actually
save you much more on interest on your home loan in the long run. While you
don’t have to give away hard-earned equity, often sellers must look at the
overall savings involved. Again, ask your real estate agent for advice.
Choose
your listing agent wisely. Working with a full-time professional real estate
agent is a must. Choose your agent by asking questions of him/her. Find out
how knowledgeable they are about houses currently for sale in your price range
and also of houses that have recently sold.
Choosing your Agent wisely. Any agent will show enthusiasm and will want to list
your house for sale but choose your agent based upon:
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Experience at
listing and marketing houses for sale.
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Ability to use technology to market your house world wide to buyers 24/7.
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Reviewing with you a comprehensive Marketing Analysis of home sales in your
area.
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Ability to offer a written detailed 30-DAY MARKETING PLAN that will get your
house sold at the highest possible price.
Working with a full-time professional real
estate agent is a must. Choose your agent by asking questions of him or her.
Find out how knowledgeable they are about houses currently for sale in your
price range and also of houses that have recently sold. Can your agent recommend
a good lender that has the reputation of excellent customer service and low
rates to assist your new buyer with financing? A good listing agent can get
your house sold quickly at TOP DOLLAR and help you find a new home.
To receive
your FREE copy of Homebuyer's Handbook or Homeseller's Handbook, click here.
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