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This list of frequent seller’s mistakes regarding house listing pricing can help you avoid the pitfalls involved in selling your home. If setting a price was simple and straightforward, you would not need assistance in pricing your home correctly. Save yourself time and money by avoiding these costly mistakes. Pricing Mistakes: The first several seller mistakes involve the issue of pricing.
Guessing vs Researching
Basing your home price on what the neighbor down the street listed his home for isn’t a reliable method. Nothing loses potential buyer faster than an overpriced home. Subsequent price lowering makes it look like you’re getting desperate to sell, which will increase low ball offers. Contrarily, you do not want to underprice. A lower listing price may decrease the time to sell a bit; however, you might leave several thousand dollars on the table. Learn how to price your home for sale the right way, based on research.
The Comparison Market Analysis is your best source for setting an asking price. If a home in your area sells for a low price, don’t assume yours is worth the same amount. That home may have had condition issues or a personal issue requiring a very swift sale. Your home might have something to offer that the other one did not. Let the Comparison Marketing Analysis (CMA) be your guide with the advice of a real estate professional.
Hiring a Realtor from Highest Price Suggestion
Choosing a real estate agent simply because of higher end price for your home than other agents have suggested is not in your best interest. A good Realtor will know more about the market for your home than you do. Pick an agent who can provide you with real numbers and solid marketing plans for your home. The person you choose to sell your home should be knowledgeable in the local area, trustworthy, and quick to answer questions of concerns regarding the entire selling process. Avoid this mistake by interviewing several agents and selecting the one who offers sales data and strategic listing price, and not the highest price.
Excerpted from my book “Selling Secrets – You Can’t Afford to Miss”
Ricardo Parente, Realtor®
Coldwell Banker Realty | Winter Park, FL
