Mistake #1 -- Pricing Your Property Too High

Every seller obviously wants to get the most money for his or her product.  Ironically, the best way to do this is NOT to list your product at an excessively high price!  A high listing price will cause some prospective buyers to lose interest before even seeing your property.  Also, it may lead other buyers to expect more than what you have to offer.  As a result, overpriced properties tend to take an unusually long time to sell, and they end up being sold at a lower price.  Your New Age Realtor will provide a comprehensive market survey prior to listing your home to help you determine the most likely sale price of your property given current, local market conditions.

Mistake #2 -- Mistaking Re-finance Appraisals or Tax Assessments for the Market Value

Unfortunately, a re-finance appraisal may have been stated at an untruthfully high price. Often, lenders estimate the value of your property to be higher than it actually is in order to encourage re-financing. The market value of your home could actually be lower. Your best bet is to ask your Realtor for the most recent information regarding property sales in your community. This will give you an up-to-date and factually accurate estimate of your property value. Market value is what buyers have been willing to pay for comparable properties.

Mistake #3 -- Forgetting to "Showcase Your Home"

In spite of how frequently this mistake is addressed, and how simple it is to avoid, its prevalence is still widespread.  When attempting to sell your home to prospective buyers, do not forget to make your home look as pleasant as possible.  Make necessary repairs.  Clean. Make sure everything functions and looks presentable.  A poorly kept home in need of repairs will surely lower the selling price of your property and will even turn away some buyers.  A simplified strategy for home selling is to be the best home at the best price, and rise above the competition in any market.

Mistake #4 -- Trying to "Hard Sell" While Showing

Buying a house is always an emotional and difficult decision.  As a result, you should try to allow prospective buyers to comfortably examine your property.  Don't try haggling or forcefully selling.  Instead, be friendly and hospitable.  A good idea would be to point out any subtle amenities and be receptive to questions.  A better idea is to leave the property during showings so buyers and their agents can privately review the property and make decisions based on what the home has to offer, and not the arm-twisting in which you may be tempted to engage.

Mistake #5 -- Trying to Sell to "Looky-Loos"

A prospective buyer who shows interest because of a "for sale" sign he saw may not really be interested in your property. Often buyers who do not come through a Realtor are a good 6-9 months away from buying, and they are more interested in seeing what is out there than in actually making a purchase. They may still have to sell their house, or may not be able to afford a house yet.  They usually have not gone through the mortgage pre-approval steps, and may not have any idea what, if any, buying power they actually have.  They may still even be unsure as to whether or not they want to relocate.

Your Realtor should be able to distinguish realistic potential buyers from mere lookers. Realtors should find out a prospective buyer's savings, credit rating, and purchasing power in general. If your Realtor fails to find out this pertinent information, you should do some investigating and questioning on your own. This will help you avoid wasting valuable time marketing towards the wrong people. If you have to do this work yourself, consider finding a new Realtor. Buyers must be three things: Ready, Willing and Able.  If any one of these three ingredients is missing, you are not dealing with a qualified purchaser.

Mistake #6 -- Not Knowing Your Rights & Responsibilities

It is extremely important that you are well-informed of the details in your real estate contract. Real estate contracts are legally binding documents, and they can often be complex and confusing. Not being aware of the terms in your contract could cost you thousands for repairs and inspections. Know what you are responsible for before signing the contract. Can the property be sold "as is"? How will deed restrictions and local zoning laws will affect your transaction? What are your disclosure obligations?  Not knowing the answers to these kind of questions could end up costing you a considerable amount of money.  Your New Age Realtor is well-versed in the obligations of a seller client, and can advise you in negotiations to help you keep as much of your net proceeds where they belong-in your pocket!

Mistake #7 -- Limiting the Marketing and Advertising of the Property

Your Realtor should employ a wide variety of marketing techniques. Your Realtor should also be committed to selling your property; he or she should be available for every phone call from a prospective buyer. Most calls are received, and open houses are scheduled, during business hours, so make sure that your Realtor is working on selling your home during these hours. Chances are that you have a job, too, so you may not be able to get in touch with many potential buyers. New Age Realtors have many ways for buyers to be in contact with them anytime of the day or night; office phone, cell phone, text and email alerts when a prospective buyer wants more information from the website, and more.  At New Age Real Estate, we understand that real estate is a very competitive business-for agents and sellers!  We are committed to being there for you, and for every buyer who shows an interest in your home!