5 Most Common Selling Mistakes
The top five selling mistakes and what steps you can take to avoid them
Every seller naturally wants to get the most money for his or her product. The most common mistake that causes sellers to get less than they hope for, however, is listing too high. Listings reach the greatest proportion of potential buyers shortly after they reach the market. If a property is dismissed as being overpriced early on, it can result in later price reductions. Overpriced properties tend to take an unusually long time to sell, and they end up being sold at a lower price than they likely would have had they been priced properly in the first place.
Failing to “Showcase”
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, and remove as many possessions as you can prior to showing. A poorly kept home, or one with too much clutter, will make it dramatically more difficult for buyers to become emotionally interested in your property.
Trying to Sell to Lookers
A prospective buyer who shows interest because of a For Sale sign or an internet ad may not really be interested in your property. Often, buyers who are not accompanied by a Realtor® at a showing are 1-2 years away from buying, IF you’re lucky!
Usually, they’re more interested in seeing what is out there than in actually making an offer. They may still have to sell their house or may not be able to afford a house yet. 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; purchasing power from window shoppers.
In general, if your Realtor® fails to find out this key information, you should do be inquiring & questioning their prequalification process. This will help you avoid wasting valuable time marketing to the wrong people. And if you have to do this work yourself, consider finding yourself a new Realtor®.
Two marketing tools sellers used to use were open houses and classified ads. Unfortunately, these two tools are rather ineffective. Less than 1% of homes are sold at open houses, and less than 3% are sold because of classified ads. In fact, Realtors® often use open houses solely to attract future prospects, not to sell that particular house.
In today’s day and age, 98% of all real estate searches begin online. Does your Realtor® have a professional website? Do they advertise across several real estate platforms or do they ONLY publicize on social media channels? There are VERY FEW successful real estate professionals who don’t, and for good reason.
Your Realtor® should have a vast network of agents he or she works with but more importantly they should employ a wide variety of marketing techniques to both Buyers AND other other buyer’s agents. This will get the most eyes on your property as possible & demonstrate true commitment to selling your property.
Choosing the Wrong Realtor®
Selling your home could the most important financial transaction in your lifetime. As a result, it is imperative you select a professional Realtor® with a proven sales track record who is a good match for you. Experienced real estate agents often have support teams and systems in place to get through selling your property as seamlessly as possible.
Take your time when selecting a real estate agent. Interview them and ask several key questions about their experience & processes, just as you would any professional in their field, albeit a Lawyer or a Surgeon.
Ask for referrals and availability. He or she should be available for every phone call from a prospective buyer, if not someone from their team should be. Most calls are received, and appointments are scheduled during business hours, so make sure that your Realtor® is working on selling your home during these hours (many Realtors® work part-time). In Baja selecting the right Realtor® will likely bring you a higher sales price in less time and with fewer hassles.