The 10 Most Deadly Mistakes You Can Make When Selling Your Home
Deadly Mistake Number #1:
Incorrectly Pricing Your Home
Every seller wants to net as much money as possible when selling their
home. Unfortunately, a listing price that is too high often gets the
seller less than a listing priced at market value. If your house is
not priced competitively, people looking in your price range will reject
your house in favor of other larger homes for the same price.
At the same time, the people who should be looking at your house will not
see it because it is priced over their heads. Overpricing usually increases
the time on the market and that adds to the seller's carrying costs.
Ultimately, many overpriced properties sell below market value. Once you
understand the principles of pricing your home, you will know how to sell
your house for the best price. To help you avoid costly mistakes related
to pricing your home - just call our office at 314-378-8287 and we will
deliver to you a FREE Market Evaluation of your home.
Deadly Mistake Number #2:
Failing to "Showcase" your home
Buyers are looking for homes, not houses, and they buy the home in which
they would like to live. They buy emotionally and then back up that emotional
decision logically.
Owners who fail to make necessary repairs and don't spruce up the house
inside and out, touch up the paint and landscaping and keep it neat and
clean, chase buyers away as rapidly as Realtors can bring them.
Call us at 314-378-8287 for FREE information on how to get your property
ready for sale.
Deadly Mistake Number #3:
Staying at home during a showing
As we mentioned above, buying a house is an emotional decision. People
like to "try on" a house and see if it is comfortable for them. This is
difficult for buyers to do if you are present and even harder if you follow
them around, pointing out every improvement you have made.
It will probably have the opposite effect you want. They may feel uncomfortable
because they are intruding on your private space rather than making them feel
at home. The best strategy is to leave the house when a prospective buyer
is scheduled. Even a good Realtor knows that he won't "sell" the house
- the house must sell itself. Once you have prepared your house for showing,
let your house do its job.
Deadly Mistake Number #4:
Mistaking "Lookers" for Buyers
Folks who try to sell their home themselves always get more activity than
houses listed with an agent... no question about it. Realtors will only
bring qualified buyers and these will be fewer than if you open your front
door to everyone who walks down the street.
Fully 96% of the responses you receive on ads and open houses are not bona
fide buyers (these statistics come from the National Association of Realtors).
Seventy percent (70%) have a house to sell first, 18% live in the neighborhood
and are interested in the value of their home and 8% are just looking for
decorating ideas or shopping.
That means that only 4 calls out of 100 are buyers that are ready and able
to buy a home. These 4 prospects will look at an average of 18-23 homes
before they buy.
Agents pre-qualify buyers before bringing them to your home. An agent does
not get paid unless he or she helps someone buy a home. This makes it
unproductive for a Realtor to show properties to unqualified prospects.
A Realtor will ask a buyer how much he can really spend for a house, how
much he has to put down, how good his credit is, how much he can pay each
month, how much he will realize when he sells his present home and about
two dozen other similar questions.
Deadly Mistake Number #5:
Not knowing your rights and obligations
Real estate law is extensive and complex. A Purchase Agreement is a legally
binding contract. If improperly written, the contract can cause the sale
to fall through or cost you thousands of dollars for repairs, inspections,
taxes and remedies for items included or excluded in the offer. You must
be certain of which repairs and closing costs you are responsible for.
You also need to know if the property can legally be sold "as is" and how
deed restrictions and local zoning will affect the transaction. If there
are defects in your title or your property is in conflict with local
restrictions, you or your Realtor must remedy them to avoid losing money.
Deadly Mistake Number #6:
Signing a listing contract with no way out!
Many times an agent will have good intentions about marketing your house but
circumstances change. There might be a death in the agent's family or
the agent may decide to quit the business. In these cases where the agent
couldn't or wouldn't perform, you must have the right to fire your agent.
In some companies, the broker will assign your listing to someone else
in the office, someone you didn't personally select. Always protect yourself
by getting a guarantee of performance with the right to cancel.
If you are not 100% satisfied with the service we provide, we will cancel
your listing with 24 hours notice -- "no questions asked". Call us at
314-378-8287 for a copy of this guarantee.
Deadly Mistake Number #7:
Limiting the marketing and exposure of the property
The two most obvious marketing tools, open houses and ads in the Homes Magazines,
are very ineffective. Surprisingly, less that 1% of all homes sold are
sold at an open house. Agents use them to attract future prospects, not
to sell your house.
Advertising in newspapers and magazines sell only 3% of all homes sold.
Some ads are better than others (ask about my direct marketing ads).
You need to spend your advertising dollar on effective marketing. To find
out what is effective, you need to understand the philosophy of advertising
and then you need to test your ads. Test the publication, test the placement,
test the text, test the pictures and then quantify the results into a
coherent marketing strategy.
Forty percent (40%) of homes are sold through salesperson contact or firm
name recognition. Twenty percent (20%) are sold through the "For Sale"
sign that sits in your front yard. Eighteen percent (18%) of all houses
are sold through "Direct or indirect" referrals and since most agents pay
no attention to this source at all, just imagine what percentage it could
be if you had a systematized plan to attract these referrals.
Call us at 314-378-8287 to find out how our home selling system works - we
have success stories already on file.
Deadly Mistake Number #8:
Believing that a Bank Appraisal is the real Market Value
An appraisal is an opinion of value that is used for a particular purpose.
If a lender wants to lend you money (say on a 2nd mortgage or refinance),
they may be motivated to make the appraisal come in high. The appraiser
May ignore foreclosure, distress sales or highly motivated sellers in order
to justify a higher price.
Unfortunately, a real buyer in the real world will not ignore these properties.
These properties will, in fact, be your competition. Don't make the mistake
of thinking that the value you were given even 6 months ago when you refinanced
is what a real buyer would pay. The value of your home must be determined by
what comparable houses in your neighborhood have sold for. Look at all
of the SOLDS in the area and then decide.
Deadly Mistake Number #9:
Not getting Performance Guarantees from your Realtor
Realtors don't guarantee anything. If they get your home sold, great -
they get paid, but if they don't, tough luck. Thirty-three percent (33%)
of all listings that are put in the Multiple Listing System DO NOT SELL!
Make sure that your Realtor has a better track record than that and make
sure that he will be accountable to you if he doesn't do his job.
Call our office at 314-378-8287 for details on our unique real estate services.
Deadly Mistake Number #10:
Choosing the wrong Realtor
It is likely that you don't interview people very often but, in order to
find the right Realtor you may interview several. The quality of your
home selling experience is dependent upon your skill at selecting the
person best qualified.
Getting an experienced, competent agent with your best interests in mind
generally costs the same as hiring someone who is inexperienced. Bringing
that experience to bear on your transaction could mean a higher price at
the negotiating table and selling in less time and with a minimum of headaches.
There are many Realtors who are wrong for you. For example, the part-time
agent who sells an occasional house because they need a little pocket change
or the insurance salesman who believes he can handle two careers or perhaps
your cousin George who really needs your business.
The sale of your home could be the most important financial transaction
you will ever make. The person you select can make it a satisfying and
profitable activity or a costly, terrible experience. It is your home
and your money... the choice of your Realtor is up to you. Make your
selection wisely.
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Let's Talk Straight
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We want you to know that we only work with serious sellers. In fact,
our straight forward style isn't for everyone - but it's just what the
doctor ordered for most people. We sell a lot of homes. We would love
to get your home sold for you and we are very interested in earning your
business.
So What Do You Do NOW?
Call us now at 314-378-8287. There is no obligation and we'll be totally
straight with you. Even if you don't list with us, we guarantee it will
be time well spent.
So, it's your decision on what to do from here. It's totally up to you.
We will get your home sold, you just need to take action and call us!
We look forward to hearing from you.
Sincerely,
Roland L Hauhe
Roland & Linda Hauhe
www.RolandOne.com
P.S. Remember, all of our services come with a satisfaction guarantee -
this way you have absolutely nothing to lose by calling us...
except more time and money!
This letter is not intended to solicit currently listed properties.