Selling your home can be a nerve racking, exhausting experience.  Last minute calls, inconvenient showings, price adjustments, and the uncertainties of being stuck with a house that doesn’t sell for months on end can all take their toll.  If you are not completely prepared you could end up losing thousands of dollars in profit!

The differernce between a profitable, smoot transaction and a miserable expericene is often a fine line.  The majority of home selling nightmares are caused by a lack of knowledge.

1.    Improper pricing- Improper pricing is by far the most common mistake that unsuccessful home-sellers make.  If you set the price too high, your home will sit unsold and become “shopworn.”  This will only help to sell homes competing with yours as buyers who see your home will compare it to properly price comparables and will obviously choose the better value.  On the other hand, if you price it too low, you may give away thousands of dollars to a total stranger.  You must keep in mind that the market value is set by the market-not by Realtors, appraisers or sellers – but by what buyers have paid for comparable properties.
2.    Not Providing easy access – Accessibility is a major key to a profitable sale. The more accessible your home, the more showings, and the better the odds are of finding a person willing to pay top dollar.  In today’s competitive market, buyers who can’t get a viewing will go on to other homes, and purchase elsewhere.
3.    Bad House Keeping – First impression are probably more important in real estate than in any other field.  A staggering amount of home sales have been lost to cluttered rooms, un-mowed lawns, dirty kitchens and bathrooms, stained carpets and unpleasant odors.  It is inperative that you clean every nook and cranny so that everything sparkles as when it was new.
4.    Failure to Make repairs – Many times minor improvements will set the home-owner back thousands of dollars during negotiations.  A leaky faucet, paint on trim, a cracked tile, any of these minor details can be used as leverage when dealing with offers and counter-offers.  Another thing to keep in mind is that since there are so many homes for sale, what may seem to be a small fix-up job can make the difference between a closed sale at top dollar and a home that just sits on the market for months on end.
5.    Poor Showing Techniques – Your home should be neat and clean, but that’s just the beginning.  There are lots of little details that make a big difference.  Knowing exactly what to say and do when buyers come through your home is crucial.

6.    Relying on Traditional Methods – The days of putting a sign in the yard and placing an add in the newspaper to get you home sold are long gone.  Today, agents need to design specific marketing plans that will maximize the odds of you home being seen by that one special buyer.
7.    Making decision on emotion – You must realize that selling you home is a business transaction, not an emotional one.  This focus should stay clear throughout the entire home selling process.  The buyer sees no benefit in the intrinsic value that you have created in your property.  They are buying a property to make it their own.
8.    Not understanding the market – There is only one thing that determines value – that is the market.  Basically it’s what buyers are willing to pay for comparable properties in your area.  This figure fluctuates by supply and demand just like any other commodity.  Since the buyers are out there shopping – comparing values, it is very difficult to find a buyer willing to pay more than current market value.  No single person, firm or agent has any control over the market!
9.    Unqualified Prospects – A buyer who can’t purchase your home is not really a buyer at all. It sounds simple but thousands of hours are wasted everyday by showing properties and negotiating with precisely this type of “buyer.”  Buyers should be pre-approved for a loan before you begin to work with them.
10.    Choosing the wrong agent – The vast majority of all homes are sold by real estate agents but not all agents are the same.  The agent’s experience, knowledge, and marketing plan will have an enormous impact on your success.  Choosing the right agent will make all the difference in the world.